Snyder's-Lance reports loss for Q2 2011

Snyder's-Lance for news

Snyder's-Lance

augustus 11, 2011

US-based snack food company Snyder's-Lance has reported $3.84m loss for the second quarter ended 2 July 2011, compared to a $12.4m profit during the same period last year.

The prior year results were reported by only Lance prior to its merger with Snyder's. The merger was completed on 6 December 2010.

Net revenue for the company increased 75% to $413m, compared to the prior year's net revenue of $235m. According to the company, the Q2 revenue growth is primarily due to the incremental net revenue, resulting from the merger.

Snyder's-Lance chief executive officer David V Singer said that although the second quarter profitability was disappointing, the company remains strong and on track to complete the integration plans laid out following the merger .

"With the exception of our private brands products, the company's sales and profitability are in line with our expectations,"Singer added.

Financial release Snyder's-Lance

Like to receive news like this by email? Join and Subscribe!
Join Our Telegram Channel for regular updates!
Sponsored Content

Uitgelichte Bedrijven

Sponsored Content

Sponsored Content
Sponsored Content
Sponsored Content
Sponsored Content

Waar

Sponsored Content