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Snyder's-Lance profit misses consensus by 35.1% in fiscal Q3


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Snyder's-Lance profit misses consensus by 35.1% in fiscal Q3

Snyder's-Lance Inc. said its normalized net income for the fiscal third quarter ended Oct. 3 amounted to 22 cents per share, compared with the S&P Capital IQ consensus estimate of 33 cents per share.

EPS climbed year over year from 21 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $15.4 million, a gain from $14.7 million in the third quarter ended Sept. 27, 2014.

The normalized profit margin rose to 3.7% from 3.6% in the year-earlier period.

Total revenue climbed on an annual basis to $416.8 million from $409.3 million, and total operating expenses climbed year over year to $389.1 million from $382.7 million.

Reported net income grew 16.7% on an annual basis to $15.7 million, or 22 cents per share, from $13.4 million, or 19 cents per share.