Lassonde Industries Inc. announces its first quarter 2009 results

About this update from Lassonde Industries, Inc. Class A

[{"type":"text","content":"\n\n\n\nROUGEMONT, QC, May 8 /CNW Telbec/ - Lassonde Industries Inc. (LAS.A -\nTSX) today announced that it recorded a slight increase in net sales during\nthe first quarter of 2009.\n\n\n-------------------------------------------------------------------------\nFinancial highlights First quarters ended\n(in thousands of dollars except\nbasic and diluted earnings per share)\n-------------------------------------------------------------------------\n March 28, 2009 March 29, 2008\n (unaudited) (unaudited and\n restated)(1)\n-------------------------------------------------------------------------\nNet sales $120,099 $118,985\n-------------------------------------------------------------------------\nOperating income 9,182 10,017\n-------------------------------------------------------------------------\nEarnings before income taxes 8,459 9,019\n-------------------------------------------------------------------------\nNet earnings 5,837 6,104\n-------------------------------------------------------------------------\nBasic and diluted earnings per share 0.88 0.92\n-------------------------------------------------------------------------\n\nNote: These are financial highlights only. Management's Discussion and\nAnalysis, the unaudited consolidated financial statements and notes\nthereto of Lassonde Industries Inc. for the quarter ended March 28, 2009\nwill be available on the SEDAR website at www.sedar.com and on the\nwebsite of Lassonde Industries Inc.\n\n(1) The comparative figures of the year-earlier quarter have been\nrestated to reflect a new accounting standard on goodwill and intangible\nassets that was applied as of January 1, 2009. This new standard was\napplied retroactively and the corresponding prior period consolidated\nfinancial statements have been restated accordingly. Under this standard,\nthe Company now accounts for acquisitions of deferred charges directly as\na reduction to sales. Previously, such deferred charges were recorded at\ncost and amortized over periods ranging from 12 to 24 months. The\namortization was applied against sales.\n\n\nFinancial results\n\n\n-----------------\n\n\nAs reported in the Company's consolidated financial statements, net sales\nduring the first quarter of 2009 were $120.1 million, a 0.9% increase over the\n$119.0 million in net sales recorded in the same quarter of 2008.\n\n\n&...

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