Aug. 4, 2010 | Earnings Reports
Seneca Foods Corporation (the “Company”) (NASDAQ: SENEA, SENEB) reported net earnings for the fiscal first quarter ended July 3, 2010 of $5.3 million, or $0.43 per diluted share, compared to $11.1 million or $0.91 per diluted share in the prior year. Net sales for the quarter ended July 3, 2010 decreased from last year by $10.6 million, or 4.6%, to $219.9 million. The decrease in sales is attributable to decreased selling prices and a less favorable sales mix of $35.4 million partially offset by an increase in sales volume of $24.8 million. Pre-tax results for the fiscal quarter ended July 3, 2010 included a $0.1 million gain on the sale of unused equipment.