Seneca Foods Reports Earnings of $13.8 Million or $1.38 per Diluted Share for the Fourth Quarter of Fiscal Year 2016
Topic: Financial - Jun 08, 2016
Seneca Foods Corporation (NASDAQ: SENEA, SENEB) reported that net earnings for the fiscal fourth quarter of 2016 was $13.8 million, or $1.38 per diluted share, compared to $2.8 million, or $0.26 per diluted share, in the fiscal fourth quarter of 2015. Net sales for the fourth quarter ended March 31, 2016, increased from the fourth quarter ended March 31, 2015, by 9.3%, to $303.7 million. The increase is attributable to increased sales volume of $52.4 million partially offset by lower selling prices/less favorable sales mix of $26.7 million.