April 17, 2009, Rougemont, Que. – Lassonde Industries Inc. boosted its
annual sales above the half-billion mark in 2008, thanks to two
April 17, 2009, Rougemont, Que. – Lassonde Industries Inc. boosted its annual sales above the half-billion mark in 2008, thanks to two acquisitions.
Lassonde’s sales increased to $505.1 million, including $133 million in the fourth quarter. That’s up from 2007 annual sales of $401.0 million, including $112.7 million in the fourth quarter of that year.
Operating income grew more slowly than net sales, however, as a result of higher operating costs and a bigger amortization charge resulting mainly from the acquisitions.
For the full year, 2008 annual net income was $29.1 million, or $4.36 per share, an increase of $5.8 million from $23.3 million or $3.49 per share in 2007.
However, net income for the three months ended Dec. 31, 2008, fell to $7.6 million or $1.14 per share, down from $9.3 million or $1.40 in the fourth quarter of 2007, when Lassonde recorded a tax credit. Without that item, the fourth quarter 2007 profit was $8.1 million.
“The current conditions should not significantly affect Lassonde Industries’ business model or management approach,” said Pierre-Paul Lassonde, chairman of the board and chief executive officer.
“Barring a more drastic deterioration in the economic environment, the company remains optimistic about its ability to maintain its level of net sales.”
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