Feb 17 (Reuters) - J.M. Smucker Co reported a bigger-than-expected drop in quarterly revenue, hurt by lower sales of its Folgers coffee and pet snacks.
The company’s net income fell to $134.6 million, or $1.16 per share, in the third quarter ended Jan. 31 from $185.3 million, or $1.55 per share, a year earlier.
Smucker took a $75.7 million non-cash charge in the quarter related to certain trademarks within its pet foods business.
Net sales fell 5 percent to $1.88 billion, their third straight decline. Analysts on average had expected revenue of $1.92 billion, according to Thomson Reuters I/B/E/S. (Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Saumyadeb Chakrabarty)