Business
Lassonde Industries Inc. announces its Q3 2009 results
Lassonde Industries Inc. announces its Q3 2009 results
About this update from Lassonde Industries, Inc. Class A
[{"type":"text","content":"\n\n\n\nNov. 6, 2009 (Canada NewsWire Group) -- ROUGEMONT, QC, Nov. 6 /CNW Telbec/ -- Lassonde Industries Inc. (TSX symbol: LAS.A) today announced that the Company's net sales increased by $3.2 million (+2.5%) during the third quarter of 2009 compared to the third quarter of 2008, while net earnings were $1.3 million (+20.8%) higher than the third quarter of 2008.-------------------------------------------------------------------------Financial highlights Third quarters ended(in thousands of dollars exceptbasic and diluted earnings per share)-------------------------------------------------------------------------September 27,September 26, 20082009 (unaudited)(unaudited) (restated)(1)-------------------------------------------------------------------------Net sales $127,523 $124,364-------------------------------------------------------------------------Operating income 11,545 9,637-------------------------------------------------------------------------Earnings before income taxes 10,539 8,842-------------------------------------------------------------------------Net earnings 7,282 6,026-------------------------------------------------------------------------Basic and diluted earnings per share $1.10 $0.90-------------------------------------------------------------------------Note: These are financial highlights only. Management's Discussion andAnalysis, the unaudited consolidated financial statements of LassondeIndustries Inc. and the notes thereto for the quarter ended September 26,2009 will be available on the SEDAR website at www.sedar.com and on thewebsite of Lassonde Industries Inc.(1) The comparative figures of the year-earlier quarter have beenrestated to reflect a new accounting standard on goodwill and intangibleassets that was applied as of January 1, 2009. This new standard wasapplied retroactively with restatement of the prior period consolidatedfinancial statements. Under this standard, the Company now accounts foracquisitions of deferred charges directly as a reduction to sales.Previously, such deferred charges were recorded at cost and amortizedover periods ranging from 12 to 24 months. The amortization was appliedagainst sales.Financial results-----------------The Company's net sales for the third quarter of 2009 totalled $127.5 million, up 2.5% from net sales of $124.4 million for the same period of 2008. Th...