11 February 1999: US-based Lancaster Colony Corporation reported net income of US$ 28,213,000 for the second fiscal quarter ended 31 December 1998 or US$ 67 per basic and diluted share. This compares …
11 February 1999: US-based Lancaster Colony Corporation reported net income of US$ 28,213,000 for the second fiscal quarter ended 31 December 1998 or US$ 67 per basic and diluted share. This compares with US$ 28,967,000 or US$ 67 per basic and diluted share earned in the corresponding quarter a year ago after reflecting the 3-for-2 stock split paid on 27 January 1998. Net sales for the quarter remained level with the prior year at US$ 301 million. For the first six months, net income reached US$ 48,551,000 compared with US$ 49,828,000 earned in the corresponding period a year ago. Basic and diluted earnings per share were US$ 1.15 for the current year versus US$ 1.15 (US$ 1.14 diluted) a year ago. Net sales were US$ 545 million compared with US$ 538 million in the first half last year. “Sluggish sales and manufacturing inefficiencies at several plants caused performance in our glassware and candles and automotive segments to offset our food growth,” said John B. Gerlach, Jr., chairman and CEO of Lancaster Colony. “We expect to achieve improved results for the full fiscal year.”