Lance Inc. reports a drop in third-quarter net income to $6.8 million, or 21 cents per diluted share. In the same period last year, the Charlotte-based snack-food manufacturer earned $7.5 million, or 24 cents per diluted share.
Lance says its financial results in the latest quarter were hurt by an increase in the cost of ingredients and higher energy expenses.
The company’s sales grew to $225.6 million from $198.1 million a year ago.
Lance 3Q earnings drop 9%
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