Nov. 4, 2008 | Earnings Reports
Seneca Foods Corporation (SENEA, SENEB) is pleased to report a 14.9% increase in second quarter net sales to $315.4 million compared to last year. The increase in sales is attributable to increased selling prices/improved sales mix of $43.8 million which were offset, in part, by reduced volume of $2.9 million. Net earnings per diluted share were up 33.3% to $4.4 million or $0.36 per share compared to $3.2 million or $0.26 per share. Excluding an after-tax LIFO charge of $9.3 million and $4.1 million, net earnings per diluted share was $1.11 and $0.60 during the three months ended September 27, 2008 and September 29, 2007, respectively.