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By Eric Veronikis
The Derry Township-based company reported earnings of 24 cents per diluted share, down from 65 cents at the end of last year’s fourth quarter.
Analysts had expected 55 cents per diluted share.
The company’s fourth-quarter performance was in line with Hershey’s expectations, David J. West, president and chief executive officer, said in a statement.
As it was throughout most of 2007, Hershey’s U.S. business was up against higher operating costs and increased competition in the fourth quarter, West stated.
Hershey’s goal in 2008 is to stabilize its U.S. business marketplace performance, West stated.
Hershey shares are traded on the New York Stock Exchange under the ticker symbol HSY.
