Snyder's-Lance Q2 Profit Decreases - Quick Facts

(RTTNews) - Snyder's-Lance, Inc. (LNCE) reported second-quarter net income to company of $13.0 million or $0.19 per share, compared to $19.3 million, or $0.28 per share, for the second quarter of 2012. Net income excluding special items in the second quarter of 2013 was $16.9 million, or $0.24 per share.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.28 for the quarter. Analysts' estimates typically exclude special items. Net revenue was $439 million, an increase of 9.9% compared to prior year net revenue of $399 million. Analysts expected revenue of $446.38 million for the quarter.

The company also announced the declaration of a quarterly cash dividend of $0.16 per share on its common stock. The dividend is payable on August 30, 2013 to stockholders of record at the close of business on August 21, 2013.

The company has maintained its estimates for the full year 2013. The company estimates that its net revenue for the full year 2013 will be up 10% to 12% and earnings per share will increase between 22% and 32%, excluding special items, compared to 2012. Analysts expect the company to report full year profit per share of $1.23.