Lancaster Colony Q4 Profit Down, Misses Estimates - Quick Facts

(RTTNews) - Lancaster Colony Corp. (LANC) Thursday reported a decline in earnings for the fourth quarter, mainly on higher marketing and freight costs, and lower food service pricing.

The company's net earnings were down to $21.3 million or $0.78 per share from $25.5 million or $0.93 per share last year.

Income from continuing operations decreased to $20.9 million or $0.76 per share from $25.4 million or $0.93 a year ago. On average, three analysts polled by Thomson Reuters expected the company to report profit per share of $0.99 for the quarter. Analysts' estimates typically exclude special items.

The company's cost of sales stood higher at $200.94 million, compared with $187.48 million last year. Selling, general & administrative expenses grew to $25.55 million from $21.47 million a year ago.

Net sales however, rose by six percent to $259 million from $245 million in the year-ago quarter. Analysts expected revenue of $257.00 million.