Lancaster Colony Corp. recently reported fiscal results for the second quarter ended December 31, 2011. Net sales decreased 1% to $312 million, compared to $316 million in the second quarter last year. Net income totaled $30.4 million compared with $34.9 million for the corresponding quarter a year ago. For the six months ended December 31, 2011, net sales were $586 million, compared to $581 million for the first half last year. Net income was $51.6 million, vs. $57.6 million for the same period in 2011.
Glassware and Candles sales declined 26% to $45.6 million, reportedly reflecting the exiting of several lower margin programs.
“Our food segment grew its top line in the face of very unsettled consumer spending patterns,” said John B. Gerlach, Jr., chairman and CEO. “As expected, marked increases in input costs and lower candle sales impacted our operating income.”
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