Snyder's-Lance, Inc. (LNCE), a manufacturer and marketer of snack foods, Tuesday reported an increase in its earnings for the first quarter, above analysts' estimate, and said the acquisition of Snack Factory Pretzel Crisps brand is proving positive for the firm.
For the three-month period, the company reported net income of $19.8 million or $0.28 per share for the quarter, compared with $14.2 million or $0.21 per share during the comparable period last year.
On average, seven analysts polled by Thomson Reuters expected earnings per share of $0.25 for the quarter. Analysts' estimates typically exclude one-time items.
Net revenue for the quarter increased 6.5 percent to $419 million from he prior year's figure of $393 million. The Street expected the firm to report revenues of $431.8 million for the first quarter.
Furthermore, the company declared a quarterly cash dividend of $0.16 per share on the company's common stock, payable on May 30, 2013 to stockholders of record on May 22, 2013.
The company said it has maintained its guidance for the full year 2013. The Company estimates that its net revenue for the full year 2013 will be up 10 percent to 12 percent and earnings per diluted share will increase between 22 percent and 32 percent, excluding special items, compared to 2012. Capital expenditures for 2013 are projected to be between $78 and $83 million.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.