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Lancaster Colony fiscal Q3 profit climbs 9.9% YOY

Lancaster Colony Corp. said its normalized net income for the fiscal third quarter ended March 31 was 72 cents per share, compared with the S&P Capital IQ consensus estimate of 74 cents per share.

EPS climbed 9.8% year over year from 66 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $19.7 million, an increase of 9.9% from $17.9 million in the prior-year period.

The normalized profit margin dropped to 7.4% from 7.4% in the year-earlier period.

Total revenue grew 8.9% on an annual basis to $263.4 million from $241.8 million, and total operating expenses rose 8.8% year over year to $231.8 million from $213.0 million.

Reported net income rose 8.8% from the prior-year period to $20.5 million, or 75 cents per share, from $18.8 million, or 69 cents per share.