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LANCE, INC. ANNOUNCES RESULTS

 CHARLOTTE, N.C., Feb. 16 /PRNewswire/ -- Results of consolidated operations of LANCE, INC.(NASDAQ-NMS: LNCE), Charlotte, N.C., for the 52 weeks of 1992 show the following as compared with the same period of 1991 (in thousands except share data):
 16 Weeks 16 Weeks 52 Weeks 52 Weeks
 Dec. 26, Dec. 28, Dec. 26 Dec. 28,
 1992 1991 1992 1991
 Net Sales and
 Other Operating
 Revenue $140,612 $137,605 $461,449 $449,861
 Income Before
 Income Taxes 16,229 17,822 60,162 58,673
 Net Income 10,420 11,249 39,144 37,712
 Net Income Per Share
 Outstanding .33 .36 1.25 1.21
 Common Shares
 Outstanding at
 End of Period 31,278,758 31,282,790 31,278,758 31,282,790
 For the quarter net sales and other operating revenue were up $3.0 million (2.2 percent) due primarily to increased unit volume. Cost of sales were up in dollars and as a percent of sales due to higher production costs associated with the start-up of the Vista Bakery plant (VISTA). Other income was down due to the loss on sale of fixed assets and lower interest income due to generally lower interest rates. Net income was down for the quarter due primarily to the higher production costs associated with VISTA.
 For the year net sales and other operating revenue were up $11.6 million (2.6 percent) due primarily to increased unit volume. Cost of sales was down slightly as a percent of sales due to lower production costs, especially lower raw material (including goods purchased for resale) and packaging costs. Other income was down for the same reasons noted for the quarter. Net income was up due to increased sales, lower operating costs as a percent of sales and a refund of income taxes recorded in the first quarter of 1992.
 -0- 2/16/93
 /CONTACT: J.W. Helms, Jr., Secretary and Assistant Treasurer, LANCE, INC., 704-554-1421/
 (LNCE)


CO: LANCE, INC. ST: North Carolina IN: FOD SU: ERN

CM -- CH007 -- 6850 02/16/93 11:18 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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