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Seneca Foods reports loss in first quarter

Rochester Business Journal
August 7, 2014

Seneca Foods Corp. posted a net loss for the first-quarter fiscal 2015.
 
The Marion, Wayne County, food processor reported its financial results after markets closed Wednesday. The company posted a net loss of $100,000, or a penny a diluted share, compared with net earnings of $1.3 million, or 12 cents a share, during the prior year’s first quarter.

Excluding a non-cash after-tax credit of $200,000, the net loss per diluted share was 3 cents for the recent quarter. That compares with 46 cents earnings per diluted share for the year ago first quarter, which included a non-cash charge of $3.7 million.

Net sales were up 3.4 percent to $240 million, from $232 million a year ago. The increase was the result of a favorable sales mix and higher selling prices of $10 million, partially offset by a sales volume decrease of $2.l million, the company said.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or e-mail service@rbj.net.
 

 


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