Snyder's-Lance Q2 Profit Down, But Meets Estimates - Quick Facts

(RTTNews) - Snyder's-Lance, Inc. (LNCE) Thursday posted a decline in its second-quarter earnings to $11.7 million or $0.16 per share from $13.0 million or $0.19 per share last year.

However, excluding special items, which included after-tax expenses of $6.1 million for restructuring and impairment charges and $2.8 million in transaction related expenses, earnings amounted to $20.6 million or $0.29 per share. On average, 7 analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues rose by 4.8 percent to $460 million from $439 million a year ago, while analysts projected revenues of $450.23 million.

Looking ahead, for the fiscal year 2014, the group expects earnings per share, adjusted for the recent transactions, to be in the range of $1.10 - $1.18 and revenues in the range of $1.72 billion - $1.75 billion. Analysts forecast earnings per share of $1.23, on revenues of $1.73 billion.

Further, the board proposed a quarterly cash dividend of $0.16 per share, to be paid on August 29 to stockholders of record at the close of business on August 21.