This Week
  • Elizabeth Schirmer Shores uses travelers as vehicles for technology in remote locales.

  • North American Breweries CEO sees plenty of potential to grow again.

  • It's not business as usual in building relationships with millennials.

  • Premium Mortgage has grown considerably in the past seven years.

  • MCC Foundation's Diane Shoger knows "how philanthropy works."

  • The 2015 edition features an exclusive interview with Paychex CEO Martin Mucci.

Seneca Foods reports boost in sales but declining profit in Q1

Rochester Business Journal
August 1, 2013

Seneca Foods Corp. reported a decrease in first-quarter profit, despite an increase in sales.

The Marion, Wayne County food processor posted net earnings of $1.3 million, or 12 cents a share, compared with net earnings of $8.2 million, or 67 cents a diluted share, a year ago.

Sales were up less than 1 percent to $232.1 million. The increase was due to higher sales volume of $12.5 million partially offset by lower selling prices/unfavorable sales mix of $11.4 million, the company reported.

Excluding a non-cash after-tax last in first out charge of $3.8 million, net earnings per diluted share were 46 cents during the quarter versus 74 cents during last year’s quarter, which included a non-cash last in first out charge of $800,000.

 (c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google