US: Snyder's-Lance Q3 profits climb, ups FY forecast
- Net profit reaches US$17.8m
- EBIT at $31.2m
- Net sales slide 3.6%
Snyder's-Lances said it expects EPS to increase between 30% to 35%
US snacks firm Snyder's-Lance has booked an increase in third-quarter profit and upped its full-year earnings forecast, despite sliding sales.
Earnings in the three months ended 29 September reached US$17.8m from $8.8m last year. EBIT climbed to $31.2m versus $18.4m in 2011.
Sales, however, fell 3.6% to $407m. Snyder's said its decision to discontinue non-branded sales to "certain customers who did not accept price increases" reduced revenue.
For the full year, the company said it expects sales to be "flat to about 2% down" compared to 2011 and EPS to increase between 30% to 35%.
Snack maker Snyder's-Lance is expanding its line-up of peanut butter filled sandwich crackers this month....
- What US companies might Nomad Foods buy?
- Competition intensifies among UK burger chains
- Soda draws fire from food in Mexico obesity battle
- Why investors are concerned about water risk
- Why Flowers Foods organic bread deal is a killer
- Mondelez CEO Rosenfeld defends moves on costs
- Just Mayo under fire from US FDA after complaint
- Ajinomoto "eyes acquisitions in Europe"
- FrieslandCampina H1 earnings up despite flat sales
- Hearthside to buy nutrition bar maker VSI
- Management briefing: just-food’s industry outlook for 2015
- Nestle USA, Inc.: Consumer Packaged Goods - Company Profile & SWOT Analysis
- The Coca-Cola Company : Consumer Packaged Goods - Company Profile, SWOT & Financial Analysis
- Chocolate and Chocolate Candy Manufacturing Industry (U.S.): Analytics, Extensive Financial Benchmarks, Metrics and Revenue Forecasts to 2022
- Food Flavourings & Colourings (UK) - Industry Report