Lancaster Colony Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2015; Provides Effective Tax Rate Guidance for the Second Half of 2016 and Provides Capital Investment Outlook for the Fiscal Year 2016
For the six months, the company reported net sales of USD 618.854 million compared to USD 563.398 million a year ago. Operating income was USD 94.003 million compared to USD 84.820 million a year ago. Income before income taxes was USD 93.920 million compared to USD 84.781 million a year ago. Net income was USD 62.139 million compared to USD 55.715 million a year ago. Diluted net income per share was USD 2.26 compared to USD 2.04 a year ago.
The company anticipates effective tax rate to resume a more historical rate of around 34% for the second half of 2016.
For the year 2016, the company said that its capital investment outlook looks to be in the range of USD 15 million to USD 20 million.