Lancaster Colony Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Effective Tax Rate Guidance for the Second Half of 2016 and Provides Capital Investment Outlook for the Fiscal Year 2016
January 28, 2016 at 05:50 pm IST
Share
Lancaster Colony Corporation reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported net sales of USD 324.769 million compared to USD 303.411 million a year ago. Operating income was USD 52.115 million compared to USD 50.216 million a year ago. Income before income taxes was USD 51.910 million compared to USD 50.169 million a year ago. Net income was USD 34.511 million compared to USD 32.954 million a year ago. Diluted net income per share was USD 1.25 compared to USD 1.20 a year ago. Capital investment for the second quarter was about USD 4 million.
For the six months, the company reported net sales of USD 618.854 million compared to USD 563.398 million a year ago. Operating income was USD 94.003 million compared to USD 84.820 million a year ago. Income before income taxes was USD 93.920 million compared to USD 84.781 million a year ago. Net income was USD 62.139 million compared to USD 55.715 million a year ago. Diluted net income per share was USD 2.26 compared to USD 2.04 a year ago.
The company anticipates effective tax rate to resume a more historical rate of around 34% for the second half of 2016.
For the year 2016, the company said that its capital investment outlook looks to be in the range of USD 15 million to USD 20 million.
Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company operates through two segments: Retail Segment and Foodservice Segment. Its Retail Segment manufactures and sells frozen breads, refrigerated dressings and dips, and shelf-stable dressings and croutons under the brand names New York BRAND Bakery, Marzetti, Marzetti Simply, Cardiniâs, Girardâs and others. It also manufactures and sells other products pursuant to brand license agreements, including Chick-fil-A sauces and dressings, Olive Garden dressings and Buffalo Wild Wings sauces. Its Foodservice segment manufactures and sells salad dressings, sandwich and dipping sauces, frozen breads and yeast rolls. Its products are sold through sales personnel, food brokers and distributors in the United States. Its products are also sold under private label to restaurants. It also manufactures and sells various branded foodservice products to distributors.
Lancaster Colony Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Effective Tax Rate Guidance for the Second Half of 2016 and Provides Capital Investment Outlook for the Fiscal Year 2016