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Lassonde Industries Inc. announces its preliminary unaudited results for the fourth quarter and fiscal year ended December 31, 2018
Lassonde Industries Inc. announces its preliminary unaudited results for the fourth quarte...
About this update from Lassonde Industries, Inc. Class A
[{"type":"text","content":"\n\n\n\nLassonde Industries Inc. announces its preliminary unaudited results for the fourth quarter and fiscal year ended December 31, 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nROUGEMONT, QC, Feb. 15, 2019\n\n\n\nROUGEMONT, QC, Feb. 15, 2019 /CNW Telbec/ - Lassonde Industries Inc. (TSX: LAS.A) (̎\"Lassonde\" or the \"Company\") is today announcing preliminary unaudited results for its fourth quarter and fiscal year ended December 31, 2018. These preliminary unaudited results are based on the information available to the Company on the release date of this press release and could vary once the preparation and audit work for the consolidated financial statements is completed. Lassonde expects that its financial results for the fourth quarter and fiscal year ended December 31, 2018 will be published on or around March 29, 2019.\n\n \n \n\n \nLassonde is providing this update to inform readers of downward variances between the preliminary estimates of its profit attributable to shareholders for fiscal 2018 and fourth-quarter 2018 and its actual profit attributable to shareholders for fiscal 2017 and fourth-quarter 2017.\nThe Company expects its fiscal 2018 sales to total $1,594 million compared to sales of $1,526.1 million in fiscal 2017, an increase of slightly more than 4%. Excluding the foreign exchange impact and the sales of Old Orchard Brands, LLC (\"OOB\") to maintain a comparable basis, the Company's sales should be approximately $1,528 million, an increase of approximately 0.1% when compared to fiscal 2017.\nThe Company's operating profit is expected to total approximately $105 million in fiscal 2018, down by approximately $28 million from $133.3 million in fiscal 2017. During fiscal 2018, OOB-acquisition-related expenses should be approximately $2 million. OOB expects to post operating profit of approximately $1 million. Excluding the impacts of the OOB acquisition, the decrease in the Company's operating profit should b...