Key Developments For Lance Inc
Lance Inc (LNCE.O) (Nasdaq)
Lance, Inc. Comments On FY 2010 Outlook-Conference Call
Lance, Inc. announced that for fiscal 2010, it expects revenue to grow at least 6% and earnings per share (EPS) to grow at least 30%. According to Reuters Estimates, analysts on an average are expecting the Company to report EPS of $1.56 on revenue of $982 million for the same period.
Lance, Inc. Declares Quarterly Cash Dividend; Lowers Upper End Of Prior FY 2009 EPS Guidance To A Range Below Analysts' Estimates; Narrows FY 2009 Revenue Guidance
Lance, Inc. announced the declaration of a quarterly cash dividend of $0.16 per share on the Company's common stock. The dividend is payable on November 20, 2009 to stockholders of record at the close of business on November 10, 2009. The Company also announced that based on its assessment of the current operating environment, the Company tightened its fiscal 2009 diluted earnings per share (EPS) estimate to a range of $1.15 to $1.20. The Company's fiscal 2009 sales estimate to a range of $915 to $925 million. These estimates include the operating impact of the Stella D'oro brand acquisition, which is anticipated to add less than $5 million in revenue and be neutral to earnings. Prior estimates, which were previously announced on July 24, 2009, included a full year diluted EPS estimate range of $1.15 to $1.25 and sales estimate range of $910 to $930 million. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.23 on revenue of $923 million for fiscal 2009.
Lance, Inc. Announces Completion of Acquisition of Stella D'oro Brand
Lance, Inc. announced that it has completed the purchase of the Stella D'oro brand as well as certain manufacturing equipment and inventory from Stella D'oro Biscuit Co., Inc. Terms of the purchase agreement were not disclosed. Lance used available liquidity under its current credit facilities to fund the acquisition.
Lance, Inc. To Purchase Stella D'oro Brand
Lance, Inc. announced that it has entered into an agreement with Stella D'oro Biscuit Co., Inc. to purchase the Stella D'oro brand as well as certain manufacturing equipment and inventory. The Company plans to close on the purchase early in the fourth quarter. Terms of the purchase agreement were not disclosed
Lance, Inc. Raises FY 2009 EPS Guidance; Reaffirms FY 2009 Revenue Guidance
Lance, Inc. announced that it has raised its fiscal 2009 diluted earnings per share estimate to a range of $1.15 to $1.25 from the previous range of $1.10 to $1.20. The Company also reaffirmed the sales guidance. The Company expects net sales to range between $910 and $930 million. According to Reuters Estimates, analysts were expecting the Company to report EPS of $1.20, revenue of $921 million for fiscal 2009.
