This Week
  • Pa.-based S&T Bank Pa. plans to open an office in downtown Rochester.

  • Administrator John Garvey is moving Ontario County forward.

  • Employers are shifting to stricter ways of determining pay and benefits packages.

  • Sarah Costello wants the flower-buying experience more ecologically friendly.

  • Avani Technology Solutions' revenues are still soaring.

  • See the 20th anniversary edition of the Forty under 40 supplement.

Sales rise, profit falls in second quarter for Seneca Foods

Rochester Business Journal
October 24, 2013

Seneca Foods Corp. reported a drop in second-quarter profit, despite an increase in sales.

The Marion, Wayne County-based food processor reported a profit of $6.6 million, or 59 cents a diluted share, compared with net income of $14.5 million, or $1.22 a diluted share, a year ago.

Excluding a non-cash, after-tax last in first out charge of $5.6 million, net earnings per diluted share were $1.09, up from $1.02, which included a non-cash LIFO credit of $2.4 million.

Net sales increased by 6 percent to $336.6 million. The company said the increase was attributable to a sales volume increase of $26.9 million partially offset by a less favorable sales mix and lower selling prices of $7.9 million.

Seneca Foods employs nearly 400 local workers.

 (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