Lancaster Colony: rise in 3Q 2004 profit across segments

Fiscal 2004 3Q earnings by Lancaster Colony Corp. improved slightly on higher sales across all the company“s activities, the manufacturer of candles, glassware and automotive accessories said on 29 A…

Fiscal 2004 3Q earnings by Lancaster Colony Corp. improved slightly on higher sales across all the company“s activities, the manufacturer of candles, glassware and automotive accessories said on 29 April 2005. The firm said its net income rose to USD 16.1 million, or USD 0.46 per share, from USD 16 million, or USD 0.45 per share, a year earlier. Net sales increased 3% to USD 276.8 million versus USD 269.4 million in 2004. The current results include non-cash asset impairment charges related to non-food operations that totaled USD 1.6 million before taxes, or USD 0.03 per share. The results for 3Q fiscal 2003 included pretax income of USD 800,000, or USD 0.01 per share, related to the liquidation of inventories. Lancaster“s specialty foods sales rose 4% to USD 163.7 million from USD 156.7 million a year ago, while sales at its glassware and candles segment increased marginally to USD 55.8 million from USD 55.6 million. Automotive segment sales improved slightly to USD 57.3 million from USD 57 million in the previous year. Looking ahead to the 4Q, Lancaster anticipates slower seasonal sales in its glassware and candles segment.