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LANCASTER COLONY REPORTS FISCAL 1993 SALES AND EARNINGS

 COLUMBUS, Ohio, Sept. 1 /PRNewswire/ -- Lancaster Colony Corporation (NASDAQ:LANC) today reported that sales, earnings and earnings per share were all at record levels for the fiscal year and fourth quarter ended June 30, 1993.
 For the year, net earnings reached $46,225,000 or $2.02 per share on sales of $631 million. For the prior year, the company earned $32,371,000 or $1.42 per share on sales of $556 million. The year-ago per-share figure has been adjusted for a 4-for-3 stock split paid in April 1993.
 For the fourth quarter, net earnings increased 31 percent to $14,020,000 or 61 cents per share compared with $10,664,000 or an adjusted 47 cents per share earned in the corresponding three months a year ago. Net sales were $159 million versus $146 million last year.
 John B. Gerlach, president of Lancaster Colony, said, "All major units of the company--food, auto and truck accessories and housewares-- contributed to these excellent results."
 He added, "We were pleased with our sales growth in a very tough business year. Through extra effort by all of our employees, we were able to improve our sales and earnings during a non-inflationary period."
 Gerlach said, "We see the same tough climate for growth in fiscal 1994 and it will be hard to improve on 1993. However, we do expect to increase both sales and earnings again in fiscal 1994. We continue to look for acquisitions that will help us grow our specialty foods business."
 LANCASTER COLONY CORPORATION
 CONSOLIDATED SUMMARY OF SALES AND EARNINGS
 (In thousands except per-share amounts)
 Fiscal Year Ended Three Months Ended
 June 30, June 30,
 1993 1992 1993 1992
 -------- -------- -------- --------
 Net Sales $630,627 $555,793 $158,757 $145,895
 Income before income
 taxes $ 74,319 $ 53,852 $ 22,165 $ 17,766
 Provision for income
 taxes $ 28,094 $ 21,481 $ 8,145 $ 7,102
 Net income $ 46,225 $ 32,371 $ 14,020 $ 10,664
 Net income per common
 share (A) (B) $ 2.02 $ 1.42 $ .61 $ .47
 Cash dividends per
 common share (B) $ .50 $ .43 $ .13 $ .11
 Weighted average
 common shares
 outstanding (B) 22,863 22,876 22,828 22,850
 (A) -- Based on the weighted average number of shares outstanding during each period.
 (B) -- Adjusted for the 4-for-3 stock split in April 1993.
 -0- 9/1/93
 /CONTACT: John B. Gerlach, president of Lancaster Colony Corporation, 614-224-7141, or Investor Relations Consultants, Inc., 813-796-1452, for Lancaster Colony/
 (LANC)


CO: Lancaster Colony Corporation ST: Ohio IN: SU: EAR

RC -- FL006 -- 7830 09/01/93 09:46 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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