Business
Lassonde Industries Inc. announces its Q2 2010 results
Lassonde Industries Inc. announces its Q2 2010 results
About this update from Lassonde Industries, Inc. Class A
[{"type":"text","content":"\n\n\n\n Aug. 6, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nROUGEMONT, QC, Aug. 6 /CNW Telbec/ - Lassonde Industries Inc. (TSX symbol: LAS.A) today announced that its 2010 net earnings reached $7.3 million, up 1.4% from the second quarter of 2009. The Company's net sales experienced a slight 2.8% decline in the second quarter of 2010 compared to the same quarter of 2009. "Despite a more challenging competitive environment, we are satisfied with the second quarter results" said Pierre-Paul Lassonde, Chairman of the Board and Chief Executive Officer of Lassonde Industries Inc.\n\n\n >\n\n\nThe Company's net sales stood at $133.3 million in the second quarter of 2010, down $3.8 million from net sales of $137.1 million reported in the second quarter of 2009. This decrease in net sales was mainly attributable to higher trade spending and to unfavourable exchange rates that affected sales denominated in U.S. dollars. The total amount of net sales in the first six months of fiscal 2010 was $259.0 million, up 0.7% from net sales of $257.2 million for the first six months of fiscal 2009.\nOperating income grew from $11.2 million for the second quarter of 2009 to $11.3 million for the second quarter of 2010, up $0.1 million. The increase in operating income was mostly attributable to lower selling and marketing expenses partly offset by the unfavourable impact of the lower net sales. Operating income for the first six months of 2010 was $20.9 million, up 2.3% from $20.4 million posted at the end of the first six months of 2009.\nThe Company's financial expenses went from $1.0 million in the second quarter of 2009 to $0.9 million in 2010, down $0.1 million. The reduction in financial expenses is explained by a favourable movement of $0.4 million in exchange gains and losses partly offset by an additional interest expense of $0.3 million resulting from higher long-term debt. Financial expenses for the first six months of 2010 grew ...