Earnings Reports

Seneca Foods Corporation (NASDAQ: SENEA, SENEB) is pleased to report that for the quarter ended December 26, 2009, net earnings were $18.6 million, or $1.52 per diluted share, versus $13.8 million or $1.13 per diluted share in the quarter ended December 27, 2008. Excluding a non-cash after-tax LIFO charge of $2.6 million and $11.3 million, net earnings per diluted share were $1.73 and $2.05 during the quarters ended December 26, 2009 and December 27, 2008, respectively. Sales decreased 3.5% to $447.0 million compared to the third quarter of fiscal 2009.

Seneca Foods Corporation (NASDAQ: SENEA, SENEB) will release its fourth quarter and fiscal year 2010 earnings on Wednesday, May 26, 2010 after market close. In conjunction with this release, Seneca will host a conference call on Thursday, May 27, 2010 beginning at 8:00 a.m. EDT. Kraig Kayser, President and CEO, and Roland Breunig, CFO, will host the call.

View the entire press release >

Seneca Foods Corporation (the “Company”) (NASDAQ: SENEA, SENEB) is pleased to report that net earnings for the fiscal fourth quarter ended March 31, 2010 increased to $6.3 million, or $0.51 per diluted share, compared to $2.6 million or $0.22 per diluted share in the prior year. Excluding a non-cash after-tax LIFO credit of $1.4 million and a charge of $10.7 million, net earnings per diluted share were $0.40 and $1.09 during the quarters ended March 31, 2010 and 2009, respectively.

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.

Seneca Foods Corporation (NASDAQ: SENEA, SENEB) will release its second quarter fiscal 2011 earnings for the period ended October 2, 2010 on Thursday, October 28, 2010. In conjunction with this release, Seneca will host a conference call on Friday October 29, 2010 beginning at 8:00 a.m. EDT. Kraig Kayser, President and CEO, and Roland Breunig, CFO, will host the call.

View the entire press release >

Seneca Foods Corporation (NASDAQ: SENEA, SENEB) reported that net sales for the six months ended October 2, 2010 decreased from last year by $58.3 million, or 10.5%, to $495.4 million. The decrease is attributable to decreased selling prices and a less favorable sales mix of $30.2 million and decreased sales volume of $28.1 million attributable to lower alliance and co-pack sales. Net earnings decreased to $8.1 million, or $0.66 per diluted share, compared to $23.5 million, or $1.92 per diluted share, in the prior year.

Seneca Foods Corporation (NASDAQ: SENEA, SENEB) will release its third quarter fiscal 2011 earnings for the period ended January 1, 2011 on Thursday, January 27, 2011. In conjunction with this release, Seneca will host a conference call on Friday, January 28, 2011 beginning at 8:00 a.m. EST. Kraig Kayser, President and CEO, and Roland Breunig, CFO, will host the call.

View the entire press release >

Seneca Foods Corporation (NASDAQ: SENEA, SENEB) reported that net sales for the third quarter ended January 1, 2011 decreased from the third quarter ended December 26, 2009 by 0.2%, to $446.3 million. The decrease is attributable to decreased selling prices and a less favorable sales mix of $16.7 million mostly offset by increased sales volume of $16.0 million. Net earnings for the fiscal third quarter of 2011 decreased 38% to $11.5 million, or $0.94 per diluted share, compared to $18.6 million, or $1.52 per diluted share, in the fiscal third quarter of 2010.

Seneca Foods Corporation (NASDAQ: SENEA, SENEB) reported that net earnings for the fiscal year ended March 31, 2011 decreased 63.5% to $17.7 million, or $1.45 per diluted share, compared to $48.4 million, or $3.96 per diluted share, in the fiscal year ended March 31, 2010. Net sales for the fiscal year ended March 31, 2011 decreased from the fiscal year ended March 31, 2010 by 6.7%, to $1,194.6 million. The decrease is attributable to decreased selling prices and a less favorable sales mix of $59.2 million and lower sales volume of $26.3 million.

Seneca Foods Corporation (SENEA, SENEB) and Allens, Inc. are pleased to announce that they have signed a Memorandum of Understanding contemplating a merger of the two companies in a stock for stock transaction. The completion of the transaction is subject to the negotiation and execution of a definitive agreement between the two parties, customary closing conditions, including regulatory, shareholder and lender approvals and satisfactory completion of due diligence. Terms of the deal were not disclosed.