Lancaster Colony Corp. Q1 Net Income Rises; Net Sales Up 8.5%

(RTTNews) - Lancaster Colony Corp. (LANC) reported that its first quarter net income improved to $37.6 million, or $1.36 per share, from $30.7 million, or $1.11 per share, last year. Expenditures for Project Ascent reduced net income by $7.1 million, or $0.26 per share, in the current-year quarter compared to $7.2 million, or $0.26 per share, in the prior-year quarter.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $1.14, for the quarter. Analysts' estimates typically exclude special items.

Consolidated net sales increased 8.5% to $425.5 million. Analysts on average had estimated $421.57 million in revenue. For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.