Aug. 1, 2013 | Earnings Reports
Seneca Foods Corporation (NASDAQ: SENEA, SENEB) reported net earnings for the fiscal quarter ended June 29, 2013 of $1.3 million, or $0.12 per diluted share, compared to $8.2 million, or $0.67 per diluted share for the same period in the prior year. In the first quarter of fiscal 2014, net sales increased $1.1 million, or 0.5% to $232.1 million. The increase in net sales is attributable to higher sales volume of $12.5 million partially offset by lower selling prices/unfavorable sales mix of $11.4 million. Excluding a non-cash after-tax LIFO charge of $3.8 million, net earnings per diluted share were $0.46 during the quarter ended June 29, 2013 versus $0.74 during the quarter ended June 30, 2012, which included a non-cash LIFO charge of $0.8 million.