COLUMBUS, Ohio (Oct. 30)—Lancaster Colony Corp. reported net sales of $267 million for the first fiscal quarter ended Sept. 30, a 3-percent decline from the record $276 million achieved last year. Net income was $19.7 million vs. $20.6 million during the same quarter of 2002. The company's automotive net sales were $56 million for the quarter, down 7 percent. The automotive segment's operating income, however, remained about 7 percent of sales at $3.7 million, and included just less than $500,000 from the sale of an undisclosed idle facility, the company reported. Original equipment sales were impacted negatively by reduced production levels and higher raw materials costs lowered floor mat margins. Automotive OEM customers are "more actively reviewing existing programs," something that could be both an opportunity and a challenge, said John B. Gerlach Jr., Lancaster chairman and CEO.
Lancaster Colony's overall, automotive sales down slightly for quarter
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