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LANCE ANNOUNCES RESULTS AND DECLARES DIVIDEND

 CHARLOTTE, N.C., April 16 /PRNewswire/ -- Results of consolidated operations of LANCE, INC. (NASDAQ-NMS: LNCE), Charlotte, N.C., for the first 12 weeks of 1993 show the following as compared with the same period of 1992 (in thousands except share data):
 12 Weeks Ended
 (Subject to Year-End Audit) March 20, 1993 March 21, 1992
 Net Sales and Other Operating
 Revenue $ 106,423 $ 105,397
 Income Before Income Taxes 11,779 14,769
 Net Income Before Accounting Changes 7,436 9,884
 Net Income 7,058 9,884
 Net Income Per Share Before Accounting
 Changes .24 .32
 Net Income Per Share .23 .32
 Common Shares Outstanding at
 End of Period 31,313,175 31,294,302
 Net sales and other operating revenue were up $1.0 million (1.0 percent) compared to the first quarter of 1992. Bad weather throughout most of the company's sales territories had a major impact on sales.
 Net income was down $2.8 million for the quarter ($.09 per share) compared to the first quarter of 1992. This decrease resulted from the operations of Vista Bakery, Inc., lower interest income due to lower rates and fewer marketable securities, a refund of a prior year's income taxes recorded in the first quarter of 1992, and the cumulative effect on prior years of changes in accounting principles for income taxes and retiree health care benefits.
 The Board of Directors of LANCE, INC., has today declared a regular quarterly cash dividend of 24 cents per share on the outstanding shares of the $.83 1/3 par value common stock of the corporation. The dividends are payable on May 15, 1993, to stockholders of record at the close of business on May 1, 1993.
 -0- 4/16/93
 /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 DIV

SB -- CH008 -- 6845 04/16/93 14:39 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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