Snyder's-Lance, Inc. Reports Results For Second Quarter 2015

CHARLOTTE, N.C., Aug. 10, 2015 /PRNewswire/ -- Snyder's-Lance, Inc. today reported second quarter net revenue growth of 8% over last year, with earnings of $0.27 per diluted share excluding special items and $0.24 per diluted share including special items. 

Second Quarter Financial Summary

• Net revenue for the second quarter of 2015 was $431.4 million, an increase of 8.0% compared to second quarter of 2014 net revenue of $399.6 million.
• Net income excluding special items for the second quarter of 2015 was $19.1 million, or $0.27 per diluted share, as compared to net income excluding special items of $15.8 million for the second quarter of 2014, or $0.22 per diluted share.
• Including special items, net income for the second quarter of 2015 was $17.3 million, or $0.24 per diluted share, as compared to net income including special items of $8.2 million for the second quarter of 2014, or $0.11 per diluted share.
• Special items for the second quarter of 2015 included after-tax expenses of $1.8 million primarily associated with legal fees and an accrual for the likely settlement of certain litigation involving industry wide packaging claims. Special items for the second quarter of 2014 included after-tax expenses of $7.6 million primarily associated with restructuring and impairment charges as well as certain transaction related expenses. Full report here.