Business
Lassonde Industries Inc. announces its results for the second quarter of 2009
ROUGEMONT, QC, Aug. 7 /CNW Telbec/ - Lassonde Industries Inc. (LAS.A - TSX) announced today that ...
About this update from Lassonde Industries, Inc. Class A
[{"type":"text","content":"\n\n\n\nROUGEMONT, QC, Aug. 7 /CNW Telbec/ - Lassonde Industries Inc. (LAS.A -\nTSX) announced today that the Company's net sales grew by $8.2 million during\nthe second quarter of 2009 compared to the same quarter of 2008. Net earnings\nwere down $2.2 million from the second quarter of 2008, which was positively\naffected by reversals of provisions totalling $2.3 million following the\nsettlement of notices of assessment related to tax changes. Without these\nreversals, net earnings for the second quarter of 2009 would have been up $0.1\nmillion or 0.8% compared to the second quarter of 2008.\n\n\n-------------------------------------------------------------------------\nFinancial highlights Second quarters ended\n\n(in thousands of dollars except\nbasic and diluted earnings per share)\n-------------------------------------------------------------------------\n June 27, 2009 June 28, 2008\n (unaudited) (unaudited)\n (restated)(1)\n-------------------------------------------------------------------------\nNet sales $137,145 $128,952\n-------------------------------------------------------------------------\nOperating income 11,223 11,450\n-------------------------------------------------------------------------\nEarnings before income taxes 10,188 11,588\n-------------------------------------------------------------------------\nNet earnings 7,248 9,462\n-------------------------------------------------------------------------\nBasic and diluted earnings per share $ 1.09 $ 1.42\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 June 27, 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 with restatement of the prior period consolidated\nfinancial statements. Under this standard, the Company now accounts for\nacquisitions of deferred charges directly as a reduction to sales.\nPreviously, such deferred charges were reco...