Aug. 6, 2014 | Earnings Reports
Seneca Foods Corporation (NASDAQ: SENEA, SENEB) reported for the first quarter of 2015, a net loss of $0.1 million, or $(0.01) per diluted share, compared to net earnings of $1.3 million, or $0.12 per diluted share, in the fiscal first quarter of 2014. Net sales for the first quarter ended June 28, 2014 increased from the first quarter ended June 29, 2013 by 3.4%, or $7.9 million to $240.0 million. The increase is attributable to favorable sales mix and higher selling prices of $10.0 million partially offset by a sales volume decrease of $2.1 million.
Excluding a non-cash after-tax LIFO credit of $0.2 million, net loss per diluted share was $(0.03) during the quarter ended June 28, 2014 versus $0.46 net earnings per diluted share during the quarter ended June 29, 2013, which included a non-cash LIFO charge of $3.7 million.