Third quarter 2007 results: Lassonde Industries Announces Increase in Sales and Earnings

About this update from Lassonde Industries, Inc. Class A

[{"type":"text","content":"\n\n\n\nROUGEMONT, QC, Nov. 12 /CNW Telbec/ - Lassonde Industries Inc.\n(LAS.A-TSX) today announced that its net sales for the third quarter of 2007\ntotalled $98.2 million, representing a 7.9% increase over the amount of\n$91.0 million recorded for the same quarter in the preceding fiscal year. For\nthe first nine months of 2007, net sales were $288.2 million, an increase of\n10.2% over the corresponding first three quarters of 2006.\n\n\nOperating income as a percentage of net sales (operating margin)\nincreased in the third quarter as growth in net sales exceeded changes in cost\nof goods sold as well as operating expenses and amortization. Operating margin\nfor the first nine months of the current fiscal year stood at 7.7%, in line\nwith the 7.7% operating margin recorded during the same period of the previous\nfiscal year. Increases in the cost of certain commodities were in large part\ncompensated by the positive impact that the weakened U.S. dollar had on our\npurchases.\n\n\nLassonde's net earnings were $6.0 million for the third quarter of the\n2007 fiscal year, representing an increase of 38.5% over the result of\n$4.3 million garnered during the similar period of 2006. Net earnings for the\nfirst nine months of 2007 were $14.0 million, a 42.7% increase over the net\nearnings of $9.8 million reported in the previous fiscal year.\n\n\nIt should be pointed out that the financial results of Lassonde\nIndustries during the second quarter of 2006 were affected by non-recurring\nregulatory and legislative changes related to income taxes. These changes\nnegatively impacted the Company's financial results for the first nine months\nof 2006 by approximately $3 million. Without these factors, the increase in\nnet earnings for the first nine months would be 8.9%.\n\n\n"We are pleased to see that the demand for the different product lines in\nall our subsidiaries continues to grow and that consumers recognize the\nquality of our juices, drinks and foods," stated Pierre-Paul Lassonde,\nChairman of the Board and Chief Executive Officer of Lassonde Industries Inc.\n"However, the positive impact of the weakened U.S. dollar will continue to be\npartly compensated by significant pressures on the cost of certain basic\nproducts where definite imbalances between supply and demand exist," Lassonde\nadded.\n\n\n Key Fina...

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