Lancaster Colony Corporation reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported net sales of $326.155 million compared to $311.786 million a year ago. Operating income was $52.625 million compared to $43.710 million a year ago. Income before income taxes was $52.879 million compared to $46.449 million a year ago. Net income was $35.277 million or $1.28 per diluted share compared to $30.373 million or $1.11 per diluted share a year ago. Capital expenditures for the quarter totaled $5 million with primary project being the expansion of crouton production capacity. Sales grew primarily due to pricing of about $3 million and a bit less promotional spend as volume mix was relatively flat in the quarter.

For six months, the company reported net sales of $617.131 million compared to $586.302 million a year ago. Operating income was $93.197 million compared to $76.222 million a year ago. Income before income taxes was $93.465 million compared to $78.957 million a year ago. Net income was $61.939 million or $2.26 per diluted share compared to $51.631 million or $1.11 per diluted share a year ago. Full-year capital expenditures will total about $25 million. Cash flows provided from operations for the most recent six months totaled almost $68 million, which is similar to the $67 million reported in the prior year s comparable period.

The company provided tax rate guidance for the fiscal year 2013. The company expects effective tax rate run a little bit below 34%.