Lancaster Colony's automotive operating income up 30 percent over year-earlier quarter

COLUMBUS, Ohio (Jan. 31)—Lancaster Colony Corp. posted total net income of $52 million for its second fiscal quarter ended Dec. 31, compared with net income of $17.4 million during the year-earlier quarter. Net sales during the most recent three-month period decreased 1 percent to $307.7 million. For the six-month period, Lancaster's net income nearly doubled to $72.5 million on sales that were up only 1 percent at $583.5 million. Lancaster's automotive segment, which includes Pretty Products mats, saw a 6-percent net sales increase during the quarter. Operating income for the segment increased 30 percent in the quarter to $4.5 million. "This sales increase coupled with continued cost reduction efforts helped operating income as a percentage of sales rise to 7.4 percent compared to 6 percent a year ago," said John B. Gerlach Jr., Lancaster chairman and CEO.