10 September 1998: US-based Lancaster Colony Corp. said it expects growth in all segments of its business in fiscal 1999 after reporting record high year-end sales and earnings.
The company“s fourt…
10 September 1998: US-based Lancaster Colony Corp. said it expects growth in all segments of its business in fiscal 1999 after reporting record high year-end sales and earnings. The company“s fourth quarter net income meanwhile dipped to US$ 23.5 million from US$ 24.0 a year ago with both basic and diluted earnings per share flat at US$ 0.55 this year and last. For the fiscal year ended 30 June, net earnings increased 8% to US$ 96.1 million from US$ 88.7 million a year ago. Both basic and diluted earnings per share were US$ 2.22 versus US$ 2.01 a year ago, falling short of Wall Street expectations by US$ 0.02. The automotive division was hurt by the General Motors strike at year end and a generally sluggish aftermarket, the company said. The glassware and candles division showed modest improvement over last year“s results, the company said.