Business
Lassonde Industries Inc. announces its Q1 2014 results
ROUGEMONT, QC , May 9, 2014 /CNW Telbec/ - Lassonde Industries Inc. (TSX: LAS.A) ("...
About this update from Lassonde Industries, Inc. Class A
[{"type":"text","content":"\n\n\nROUGEMONT, QC, May 9, 2014 /CNW Telbec/ - Lassonde Industries Inc.\n (TSX: LAS.A) (\"Lassonde\") posted sales of $244.2 million in the first\n quarter of 2014, a 1.5% increase year over year. Profit attributable to\n the Company's shareholders for this period totalled $7.1 million, up\n $1.2 million from the first quarter of 2013.\n\n\n\n\nFinancial highlights\n(in thousands of dollars)\n\n\nFirst quarters ended\n\n\n\n\n \n\n\nMarch 29,\n2014\n\n\nMarch 30,\n2013\n\n\n\n\nSales\n\n\n$  244,232\n\n\n$  240,578\n\n\n\n\nOperating Profit\n\n\n14,307\n\n\n13,830\n\n\n\n\nProfit before income taxes\n\n\n10,256\n\n\n7,722\n\n\n\n\nProfit attributable to the Company's shareholders\n\n\n7,092\n\n\n5,851\n\n\n\n\nBasic and diluted earnings per share (in $)\n\n\n$        1.01\n\n\n$        0.84\n\n\n\n\nNote: These are financial highlights only. Management's Discussion and\n Analysis, the unaudited interim condensed consolidated financial\n statements and notes thereto for the quarter ended March 29, 2014 will\n be available on the SEDAR website at www.sedar.com and on the website of Lassonde Industries Inc.\n\n\n\n\n\n\"We are pleased to be beginning 2014 on a positive note despite\n difficult market conditions. We have adjusted our mode of operation to\n maintain our competitive position and ensure sound operational\n flexibility. I am also pleased to report that the indebtedness of\n Clement Pappas was reduced to US$160.0 million as at March 29, 2014\n from US$254.6 million as at August 13, 2011,\" said Pierre-Paul\n Lassonde, Chairman of the Board and Chief Executive Officer of Lassonde\n Industries Inc.\n\n\nFinancial results\nThe Company's sales totalled $244.2 million in the first quarter of\n 2014, up $3.6 million or 1.5% from $240.6 million in the same period of\n 2013. This increase was primarily driven by a favourable foreign\n exchange impact partly offset by a slight decrease in the sales volume\n of national brands.\n\n\nThe Company's operating profit for the first quarter of 2014 stood at\n $14.3 million, up $0.5 million or 3.4% from operating profit of\n $13.8 million in the same quarter last year. This increase was mostly\n due to an improvement in the profitability of CPC...