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LANCASTER COLONY SALES AND EARNINGS

 COLUMBUS, Ohio, May 5 /PRNewswire/ -- Lancaster Colony Corporation (NASDAQ: LANC) today reported record high sales and earnings for both the third fiscal quarter and nine months ended March 31, 1993.
 For the three months, net earnings increased 52 percent to $9,627,000 compared with $6,349,000 earned in the corresponding three months a year ago. Earnings per share, reflecting the 4-for-3 stock split effective April 15, 1993, were 42 cents vs. 28 cents for the third quarter of the prior year. Net sales for the quarter were $149 million, up 14 percent over sales of $131 million in the third quarter last year.
 For the nine months, net earnings reached $32,205,000, up 48 percent from the $21,707,000 earned in the corresponding nine months a year Earnings per share, after reflecting the stock split, rose to $1.41 from 95 cents a year ago. Net sales were $472 million vs. $410 million in the corresponding nine months last year.
 John B. Gerlach, president of Lancaster Colony, stated, "Our much-improved third quarter was the result of sales and earnings gains in all major operations."
 Gerlach pointed out that the company's balance sheet is also in its best position ever. He noted that, early in the fourth quarter, all short-term bank debt had been eliminated and that higher-rate long-term debt had been retired wherever possible.
 Looking ahead, Gerlach said, " We continue to expect a good fourth quarter and a record year ending June 30, 1993."
 LANCASTER COLONY CORPORATION
 CONSOLIDATED SUMMARY OF SALES AND EARNINGS (Unaudited)
 (In thousands except per-share amounts)
 Three Months Ended Nine Months Ended
 March 31, March 31,
 1993 1992 1993 1992
 Net sales $148,795 $130,917 $471,870 $409,898
 Income before income taxes $ 15,505 $ 10,548 $ 52,154 $ 36,086
 Provision for income taxes $ 5,878 $ 4,199 $ 19,949 $ 14,379
 Net income $ 9,627 $ 6,349 $ 32,205 $ 21,707
 Earnings per common
 share(A)(B) $ .42 $ .28 $ 1.41 $ .95
 Cash dividends per
 common share(B) $ .1275 $ .11 $ .3675 $ .32
 Weighted average common
 shares outstanding(B) 22,894 22,820 22,876 22,858
 (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. Subject to year-end audit.
 -0- 5/5/93
 /CONTACT: John B. Gerlach, president of Lancaster Colony Corporation, 614-224-7141; or Investor Relations Consultants, 813-796-1452, for Lancaster Colony Corporation/
 (LANC)


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

AW -- FL007 -- 4775 05/05/93 10:14 EDT
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Publication:PR Newswire
Date:May 5, 1993
Words:425
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