Nov. 4, 2020 | Earnings Reports
Net sales increased 5.5% to $390.3 million while gross margin percentage increased from 6.5% to 12.5% as compared to the prior year three months due to higher selling prices and higher sales volume in the second quarter of 2021.
Aug. 5, 2020 | Earnings Reports
“During the first quarter, we continued to see improved results from our extensive restructuring undertaken over the last few years. In addition, pantry loading due to the COVID-19 pandemic helped drive our sales.” -Kraig Kayser, President and CEO
Jul. 2, 2020 | Earnings Reports
“During Fiscal 2020 we completed two years of restructuring that included plant consolidations, divestitures including exiting the canned fruit business. As expected, the Company improved its margins when compared to the prior year. In addition, we had an unexpected sales lift in the last month of the fiscal year as consumers pantry loaded as a result of the coronavirus pandemic,” stated Kraig Kayser, President and Chief Executive Officer.
Feb. 5, 2020 | Earnings Reports
Gross margin percentage from continuing operations income increased from 2.7% to 9.3% as compared to the prior year nine months. Higher sales volume, lower cost increases and a decrease in the LIFO charge all contributed to the higher gross margin percentage.
Nov. 6, 2019 | Earnings Reports
“Our financials continue to show improvement compared to the prior year. I am pleased with our year-to-date results and that our restructuring efforts from the prior year are having a favorable impact,” stated Kraig Kayser, President and Chief Executive Officer.
Aug. 7, 2019 | Earnings Reports
“During the first quarter, we began to see improved results from our extensive restructuring undertaken last year. We expect the improvements to continue as the year progresses.” stated Kraig Kayser, President and Chief Executive Officer.
Jun. 13, 2019 | Earnings Reports
Net sales increased 3.2% to $1,199.6 million, compared to the prior year. Gross margin percentage from continuing operations decreased from 7.0% to 3.3% as compared to the prior year twelve months. Cost increases and a $40.5 million LIFO charge all contributed to the lower gross margin percentage.
Feb. 1, 2019 | Earnings Reports
Net sales increased 4.9% to $372.2 million for the quarter ended December 29, 2018, compared to net sales of $354.9 million for the third quarter of 2017. The gross margin percentage from continuing operations decreased from 8.1% to (0.4) % as compared to the prior third quarter. Cost increases and a $25.8 million LIFO charge all contributed to the lower gross margin percentage.
Nov. 9, 2018 | Earnings Reports
“As we anticipated, we have sold the Modesto facility subsequent to the quarter end and are in the process of completing the orderly liquidation of the Modesto operations. We are expecting a third quarter pre-tax gain on the sale of the Modesto facility of approximately $53.9 million. Continuing operations results are lagging behind the prior year primarily due to higher steel and transportation costs,” stated Kraig Kayser, President and Chief Executive Officer.
Jul. 31, 2018 | Earnings Reports
Seneca Foods reported a net loss for the fiscal first quarter of 2019 of $(8.8) million, or $(0.90) per diluted share, compared to a net loss of $(0.8) million, or $(0.09) per diluted share, in the fiscal first quarter of 2018. Net sales for the first quarter ended June 30, 2018, increased from the first quarter ended July 1, 2017, by 22.4%, to $343.4 million. The increase is attributed to a favorable sales volume variance of $56.8 million and a favorable sales mix and higher selling price variance of $5.9 million. The volume increase is primarily attributable to the Pacific Coast Producers sale of fruit which contributed $55.8 million to net sales.