* Q4 EPS $0.81 vs est $0.98 * Revenue misses estimates *
Specialty Food sales fall 4 pct
* Shares fall 11 pct
Aug 19 Consumer products company Lancaster
Colony Corp (LANC.O) reported quarterly results that missed
market expectations, hurt by weaker demand at its specialty
Shares of the company, which also has a glassware and
candles business segment, fell as much as 11 percent in early
trade Thursday on Nasdaq.
Lancaster Colony said earnings optimism for 2011 is
tempered by economic hurdles faced by consumers, and
potentially higher food commodity and packaging costs.
The company, however, said new products in its specialty
foods business could boost sales.
For the fourth quarter ended June 30, Lancaster Colony
earned $22.8 million, or 81 cents a share. [ID:nASA00O9N]
Shares of the Columbus, Ohio-based company, which lost
about 10 percent of its value in the past three months, were
down 3 percent at $46.90 morning trade on Nasdaq. They touched
a low of $43.28 earlier in the session.
More than half a million shares changed hands, more than
three times the 50-day moving average volume of the stock.
(Reporting by Renju Jose in Bangalore)