Seneca Foods Reports a Sales Increase of 14.1% or $44.0 Million and a Net Earnings of $6.1 Million for the Quarter Ended October 1, 2016

Topic: Financial - Nov 07, 2016

Seneca Foods Corporation (NASDAQ: SENEA, SENEB) reported for the second quarter of 2017, net earnings of $6.1 million, or $0.62 per diluted share, compared to net earnings of $6.5 million, or $0.65 per diluted share, in the fiscal second quarter of 2016.   Net sales for the second quarter ended October 1, 2016 increased from the second quarter ended September 26, 2015 by 14.1%, or $44.0 million to $357.2 million.  The increase is attributable to a sales volume increase of $87.0 million partially offset by an unfavorable sales mix and lower selling prices of $43.0 million.

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