Jun. 11, 2009 | Earnings Reports
Seneca Foods Corporation (SENEA, SENEB) is pleased to report that net sales increased from last year by $200.0 million, or 18.5%, to $1,280.7 million. The increase in sales is attributable to increased selling prices/improved sales mix of $160.3 million and increased sales volume of $39.7 million. Net earnings increased to $18.8 million, or $1.53 per diluted share, compared to $8.0 million or $0.65 per diluted share in the prior year. Excluding a non-cash after-tax LIFO charge of$37.9 million and $18.3 million, net earnings per diluted share were $4.62 and $2.15 during the years ended March 31, 2009 and 2008, respectively.