Lancaster Colony Q1 Profit Declines - Quick Facts

(RTTNews) - Lancaster Colony Corp. (LANC) reported first-quarter net income of $24.80 million or $0.91 per share, down from the prior-year's $26.66 million or $0.98 per share. The company said the lower sales, combined with higher trade promotion costs and a less favorable sales mix in the Specialty Foods segment, led to this decline.

On average, four 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.

Net sales were $286 million, off two percent from prior-year first quarter sales of $291 million. Analysts expected revenue of $296.90 million for the quarter.