Net sales increased four percent to $1,131 million versus $1,090 million last year.

Net income totaled $95.8 million or $3.51 per diluted share, compared to the prior year’s net income of $106.4 million, or $3.84 per diluted share. For fiscal 2012, results included pretax income of $2.7 million (approximately six cents per share after taxes) associated with a second quarter distribution under the Continued Dumping and Subsidy Offset Act (CDSOA). Fiscal 2011 results included pretax income of $14.4 million (approximately 34 cents per share after taxes) associated with CDSOA distributions in the second and fourth quarters.

The cash dividend was increased for the 49^th consecutive year.

The balance sheet remained strong with no debt outstanding and over $191 million in cash and equivalents.

Net sales increased seven percent to $274 million versus $256 million in the year ago quarter.

Specialty Foods net sales set a fourth-quarter record of $248 million, up eight percent over the prior year’s fourth quarter total. Both retail and foodservice sales posted increases, reflecting higher pricing, improved foodservice volume and lower trade and consumer-directed promotional costs. Higher pricing contributed over 2% of the sales growth. Retail sales were adversely affected by this year’s early Easter, but benefited from recent product introductions. Segment operating income rose 23 percent to $42.0 million from $34.2 million a year ago primarily due to improved pricing, higher sales volumes and lower consumer-driven marketing and promotional costs. These costs declined by approximately 2% of segment net sales, due in part to various Easter programs falling in the third quarter. The above factors were partially offset by a less favorable sales mix and higher material costs, the increase of which approximated 2% of segment net sales. Fourth quarter income also included approximately $1 million in vendor recoveries associated with a fiscal 2010 product recall.

Glassware and Candles sales of $25.6 million were essentially even with year ago levels. The segment’s quarterly operating loss of $0.2 million compared to a loss of $1.3 million a year ago. Results reflected an improved sales mix and modestly improved wax input costs.

Fourth quarter net income totaled $26.0 million, or $.95 per diluted share, versus the year ago net income of $29.3 million, or $1.07 per diluted share. The year ago results included a pretax CDSOA distribution of $13.4 million (approximately 33 cents per share after taxes).

the potential for loss of larger programs or key customer relationships;

the effect of consolidation of customers within key market channels;

the success and cost of new product development efforts;

the lack of market acceptance of new products;

the reaction of customers or consumers to the effect of price increases we may implement;

changes in demand for our products, which may result from loss of brand reputation or customer goodwill;

the possible occurrence of product recalls or other defective or mislabeled product costs;

price and product competition;

fluctuations in the cost and availability of raw materials;

adverse changes in energy costs and other factors that may affect costs of producing, distributing or transporting our products;

maintenance of competitive position with respect to other manufacturers, including import sources of production;

dependence on key personnel;

stability of labor relations;

dependence on contract copackers and limited or exclusive sources for certain goods;

changes in estimates in critical accounting judgments;

the outcome of any litigation or arbitration; and

risks related to other factors described under “Risk Factors” in other reports and statements filed by us with the Securities and Exchange Commission, including without limitation our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q (available at www.sec.gov).

Three Months Ended

June 30,

Fiscal Year Ended

June 30,

Net sales

Cost of sales

Gross margin

Selling, general & administrative expenses

Operating income

Interest income and other – net

Income before income taxes

Taxes based on income

Net income

Net income per common share:(a)

Net income – basic and diluted

Cash dividends per common share

Weighted average common shares outstanding:

Basic

Diluted

Three Months Ended

June 30,

Fiscal Year Ended

June 30,

NET SALES

Specialty Foods

Glassware and Candles

OPERATING INCOME (LOSS)

Specialty Foods

Glassware and Candles

Corporate expenses

ASSETS

Current assets

Cash and equivalents

Receivables – net of allowance for doubtful accounts

Total inventories

Deferred income taxes and other current assets

Total current assets

Net property, plant and equipment

Other assets

Total assets

LIABILITIES AND SHAREHOLDERS’ EQUITY

Current liabilities:

Accounts payable

Accrued liabilities

Total current liabilities

Other noncurrent liabilities and deferred income taxes

Shareholders’ equity

Total liabilities and shareholders’ equity