Lancaster Colony Third Quarter Net Sales Grow 3%
Lancaster Colony Corp. recently reported results for the third fiscal quarter ended March 31, 2013. Net sales increased 3%, from $271 million in the third quarter last year to $280 million.
Net income totaled $21.8 million, vs. $18.2 million for the corresponding quarter a year ago. The company’s Glassware and Candles sales declined 4% to $32.4 million on lower candle volume. However, the segment’s operating income increased from $1 million in the third quarter last year to $1.6 million.
“We were again pleased to achieve improved operating income in both our business segments,” said John B. Gerlach, Jr., chairman and CEO. “It was also encouraging to see continued growth in Specialty Foods sales during a period of unsettled consumer demand. Lower material and promotional costs further contributed to the quarterly improvement.”
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