ROUGEMONT, Qc – Fruit beverage-maker Lassonde Industries Inc. reported lower second-quarter profits as a pending acquisition added to its expenses.
The Rougemont, Que.,-based company (TSX:LAS.A) said its profits were $6.4 million, or 97 cents per share, compared to $6.9 million, or $1.04 per share, a year earlier.
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Sales were $146.9 million, up from $133.3 million in the second quarter of 2010.
“We are satisfied with these results, which reflect our ability to maintain sustained growth,” said chairman and chief executive officer Pierre-Paul Lassonde.
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In June, Lassonde announced plans to buy New Jersey-based juice producer Clement Pappas and Co. Inc. for US$390 million. The transaction, which is expected to close this month, had an after-tax impact of $1.9-million on Lassonde’s second-quarter profits.
Also Wednesday, Lassonde said it would keep its quarterly dividend steady at 30 cents per share.
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