York Water Co., Snyder's-Lance report earnings

November 07. 2012 12:00PM - Last modified: November 07. 2012 12:12PM

Tim Stuhldreher

The York Water Co. and Snyder's-Lance Inc. reported financial results today for the third quarter of 2012.

The York Water Co. reported earnings of $2.76 million, or 22 cents per diluted share, compared with $2.36 million, or 19 cents per diluted share, for the third quarter of 2011.

Analysts had expected earnings of 21 cents per diluted share, according to Yahoo Finance.

The company said it acquired two water systems: York Starview in York County, with 240 customers, acquired Aug. 16 for about $133,000; and Section A Water Corp. in Adams County, with 100 customers, acquired Oct. 15 for $135,000.

Another, unnamed acquisition is expected to close in the first quarter of 2013, York Water said.

Shares of the York-based utility trade on the Nasdaq under the ticker symbol YORW.

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Synder’s-Lance reported earnings of $17.8 million, or 26 cents per diluted share, for the third quarter of 2012, compared with $8.8 million, or 13 cents per diluted share, for the third quarter of 2011.

The third-quarter 2012 figures reflect $1.7 million in expenses associated with the acquisition this fall of Snack Factory, maker of Pretzel Crisps brand snacks, Snyder’s-Lance said. Its third-quarter 2011 figures reflect $1.9 million in merger-related expenses, the company said.

The results matched analyst expectations, according to Yahoo Finance.

Snyder’s-Lance said it expects net revenues for 2012 to be flat to slightly down overall, but it predicted earnings per diluted share would increase by 30 percent to 35 percent compared with 2011.

Charlotte, N.C.-based Snyder’s-Lance was formed by the merger of Lance Inc. with York County-based Snyder’s of Hanover. The company’s shares are traded on the Nasdaq under the ticker symbol LNCE.

 


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