US-based Lancaster Colony Corporation has reported record high net income of US$ 33,120,000 for the second fiscal quarter ended December 31, 1999, or 83 cents per basic and diluted share. This compare…
US-based Lancaster Colony Corporation has reported record high net income of US$ 33,120,000 for the second fiscal quarter ended December 31, 1999, or 83 cents per basic and diluted share. This compares with US$ 28.21 million or 67 cents per basic and diluted share earned in the corresponding quarter a year ago. Net sales were a record US$ 324 million compared with US$ 301 million in the second quarter last year. Sales and earnings also set new record highs for the six months ended December 31, 1999. Six months net income reached US$ 55.7 million compared with US$ 48.55 million earned in the corresponding period a year ago. Basic and diluted earnings per share were US$ 1.39 for the current year versus US$ 1.15 a year ago. Net sales were US$ 585 million compared with US$ 545 million in the first half last year. “We are very pleased with our record performance for the second quarter of fiscal 2000,” said John B. Gerlach, Jr., chairman and CEO of Lancaster Colony. “Both our specialty foods, glassware and candles segments contributed with strong sales and earnings growth. The added seasonal strength of several of our branded food products, candles and gift glassware made these record results possible. Our automotive business, while achieving good sales growth, continued to be hurt by weak product mix and operating performance.” “At the halfway point,” Gerlach added, “we feel we are on our way to another record year in fiscal 2000.”