Lancaster Colony Corp. Q4 Net Income Declines; Net Sales Up 17.3%

(RTTNews) - Lancaster Colony Corporation (LANC) reported fourth quarter net income per share of $1.06 compared to $1.15, last year. The restructuring and impairment charges reduced net income by $0.29 per share, during the quarter. Net income decreased to $29.0 million from $31.7 million.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.80, for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter net sales increased 17.3% to $452.4 million. Retail segment net sales grew 8.8% in the quarter to $233.1 million while Foodservice segment net sales rose 28.1% to $219.3 million. Analysts on average had estimated $410.82 million in revenue.

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