US-based Lancaster Colony Corp., a maker of specialty foods, automotive products, glassware and candles, reported a 5.2% drop in earnings for its fiscal fourth quarter.
For the quarter ended June 30,…
US-based Lancaster Colony Corp., a maker of specialty foods, automotive products, glassware and candles, reported a 5.2% drop in earnings for its fiscal fourth quarter. For the quarter ended June 30, Lancaster said net income came to US$ 23.5 million, or 61 cents a share, compared with US$ 24.7 million, or 61 cents a share, in the year-earlier period. Sales edged up 1% to US$ 256.6 million. Company chairman and CEO John Gerlach said the company saw strong performance in its specialty foods unit. However, weak results from its automotive, glassware and candle businesses, driven by production inefficiences, softer sales and higher energy costs, offset the food unit“s strength.