Enlarged snack food manufacturer Snyder’s-Lance said its first full first-quarter post-merger sales were up on the inclusion of Snyder’s sales.

The US group today (5 May) reported a 75% increase in net revenue to reach US$388m during the quarter ended 2 April, against Lance’s same period of the previous year.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

It attributed the growth to an increase in incremental revenue, resulting from the merger, but that it was supported by “solid growth” across its core products.

The company reported $10.8m in net income against a $685,000 loss in the previous year. Excluding special items, net income reached $11.8m against $1.2m in the previous year.

CEO David Singer said the company continues to be “very excited about the merger which has created Snyder’s-Lance”.

See Also:

“Our first quarter results were strong, and I am extremely proud of everyone at Snyder’s-Lance for delivering these great results while making real progress toward integration. Our branded products showed solid growth for the first quarter, and we anticipate good performance for the balance of 2011,” he said.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Singer said that most major operational decisions following the merger have been announced and that it is “focused on serving our customers, continuing to plan, and execute our integration plans, and working to realise the synergies and cost savings anticipated from the merger”.

The company anticipates that it will deliver a portion of its cost and revenue synergies in the latter half of 2011, with most of the integration plan set to be completed by mid-2012.