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These costs, which were announced in the first quarter of 2007, resulted from the streamlining of the Company's management structure and reduction in workforce in order to improve operating efficiencies across the Company's business. Net income in the fourth quarter of 2006 included the favorable impact of $4.9 million, or basic net income per share of $.54, related to reduced income tax expense resulting from the settlement of tax positions with certain states.
J. Frank Harrison, III, Chairman and CEO, said, "In 2007 we continued to face unprecedented challenges in raw material costs, energy costs and consumer refreshment choices...
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