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Lancaster Colony Corp. Reports Operating Results (10-Q)

November 06, 2012 | About:

Lancaster Colony Corp. (NASDAQ:LANC) filed Quarterly Report for the period ended 2012-09-30.

Lancaster Colony Corporation has a market cap of $1.99 billion; its shares were traded at around $75.07 with a P/E ratio of 19.6 and P/S ratio of 1.8. The dividend yield of Lancaster Colony Corporation stocks is 2%. Lancaster Colony Corporation had an annual average earning growth of 3.3% over the past 10 years.

Highlight of Business Operations:

Net sales for the three months ended September 30, 2012 increased 6% to approximately $291.0 million from the prior-year total of $274.5 million. This sales increase reflects higher sales in both operating segments. The Specialty Foods segments increase reflects higher retail and foodservice sales. The increase in sales of the Glassware and Candles segment primarily reflects higher seasonal sales.

As a percentage of net sales, our consolidated gross margin for the three months ended September 30, 2012 was 22.6%, as compared to 20.2% achieved in the prior-year comparative period.

Consolidated selling, general and administrative costs of approximately $25.1 million for the three months ended September 30, 2012 increased by 10% from the $22.9 million for the three months ended September 30, 2011, and were generally comparable as a percentage of net sales compared to the same period in the prior year.

For the three months ended September 30, 2012, net cash provided by operating activities totaled approximately $16.4 million as compared to $17.6 million in the prior-year period. The decrease resulted from the relative changes in working capital, particularly inventory, offset somewhat by higher net income. The increase in receivables since June 2012 primarily related to seasonal influences on sales within the Glassware and Candles segment.

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