Satisfaction over recent figures at Lancaster Colony was marred by the death of Mr. John B. “Bernie” Gerlach, the chairman and chief executive of the US firm, who died last Friday after a recent illne…
Satisfaction over recent figures at Lancaster Colony was marred by the death of Mr. John B. “Bernie” Gerlach, the chairman and chief executive of the US firm, who died last Friday after a recent illness. Mr. Gerlach, 70, founded Lancaster in 1961 with his father, and directed its growth as a manufacturer and marketer of glassware, candles and other products. In the last week of January, Lancaster Colony announced that sales and earnings had set new record highs during the company“s second fiscal quarter which ended 31 December 1996. Second quarter net income increased 14% to US$ 25.4 million or 86 cents per share compared with net income in the corresponding three months a year ago of US$ 22.37 million or 75 cents per share. Net sales were US$ 259 million compared with US$ 239 million in the second quarter in 1995. For the first six months, net income reached a record US$ 43.66 million, up 16% from the US$ 37.7 million earned in the corresponding period a year earlier. Earnings per share were US$ 1.48 versus US$ 1.27. Net sales were US$ 478 million, an increase of 9% from net sales of US$ 440 million a year earlier.