Lancaster Colony Corp. Posts Q3 Loss; Net Sales Up 12.9%

(RTTNews) - Lancaster Colony Corp. (LANC) posted a third quarter net loss of $4.5 million, or $0.17 per share, compared to net income of $28.90 million or $1.05 per share, last year. The company noted that its the current year operating income was unfavorably impacted by a restructuring and impairment charge of $22.7 million for the Bantam Bagels business. The restructuring and impairment charge reduced net income by $0.63 per share.

Analysts polled by Thomson Reuters expected the company to report profit per share of $1.03, for the quarter. Analysts' estimates typically exclude special items.

Consolidated net sales increased 12.9% to $403.5 million. Analysts on average had estimated $390.85 million in revenue.