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Lancaster Colony fiscal Q2 profit falls 10.6% YOY

Lancaster Colony Corp. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to $1.15 per share, compared with the S&P Capital IQ consensus estimate of $1.28 per share.

EPS decreased 10.6% year over year from $1.28.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $31.4 million, a decline of 10.6% from $35.1 million in the prior-year period.

The normalized profit margin fell to 10.3% from 12.0% in the year-earlier period.

Total revenue climbed year over year to $303.4 million from $292.3 million, and total operating expenses rose 7.2% from the prior-year period to $253.2 million from $236.1 million.

Reported net income decreased 11.7% on an annual basis to $32.8 million, or $1.20 per share, from $37.1 million, or $1.36 per share.