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Current Position:Home » News » Agri & Animal Products » Fruits & Vegetables » Topic

Seneca Foods' net income declined 36.3%

Zoom in font  Zoom out font Published: 2012-06-13  Origin: FBR
Core Tip: US-based canned fruits and vegetables processor Seneca Foods has reported a decline of 36.3% in net income to $11.3m for the year ended 31 March 2012, compared to $17.7m for the fiscal year ended 31 March 2011.

Net sales for the year increased by 5.6% to $1.26bn, compared to $1.19bn in 2011. The company attributed the increase in net sales to increased selling prices and improved sales.

Net sales for the fourth quarter ended 31 March 2012 increased by 7.2% to $271.2m, compared to $252.9m for the same period in 2011.

The company posted net loss of $2.2m for the fourth quarter, compared to $1.9m in the same period of 2011.

Seneca Foods sells its products under Libby's, Aunt Nellie's Farm Kitchen, Stokely's, READ, Seneca Farms, and Seneca labels and through private label markets. Seneca produces canned and frozen vegetables that are sold by General Mills Operations under the Green Giant label.

 

 
 
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