Snyder’s-Lance Revenue Increases
November 3/York, Pa./Press Release -- Snyder's-Lance attributed its 77% increase in revenue this quarter to the December 2010 merger that created the new snack food company.
Net revenue for the third quarter, which ended October 1, was $422 million compared to $238 million reported by Charlotte, N.C.-based Lance Inc., prior to the merger with York County-based Snyder's of Hanover.
The company also announced a quarterly cash dividend of $0.16 per share of common stock, payable November 22 to stockholders on record at the close of business November 14.
Executives anticipate full-year 2011 earnings to be at the lower end of the previously announced range of $0.75-0.90, and net revenue is expected to be between $1.59 billion and $1.63 billion.
From the November 4, 2011, Prepared Foods' Daily News.
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