Wednesday August 8, 2012

Snyder’s-Lance Reports Q2 Results

Charlotte, NC — Snyder’s-Lance, Inc. is reporting $399 million in second-quarter net revenues, a decrease of 3.2 percent compared with the same period in 2011, the result of costs associated with converting away from a DSD network, the company explains.

When adjusted for the conversion to an independent business owner system, net revenue increased 1.3 percent year-on-year, Snyder’s-Lance says.

Additionally, revenue from branded products grew 4.3 percent, excluding conversion costs, driven primarily by core brands including Snyder’s of Hanover pretzels and Cape Cod kettle chips.

David Singer, CEO, says: “With this conversion effort behind us, we will become more focused on top line growth and anticipate wider profit margins in the back half of 2012.”