Sales, earnings rise for Land O'Lakes
August 5, 2011
ARDEN HILLS, MINN. — Net earnings attributable to Land O’Lakes, Inc. were $67.1 million for the three months ended June 30, which was up from $65.3 million in the same time period of the previous year, the company said Aug. 4. Sales for the three months increased to $3,468.1 million from $2,957.5 million.
For the year’s first six months, net earnings attributable to Land O’Lakes, Inc., were $168.1 million, up from $96.3 million, and sales were $6,934.4 million, up from $6,024.6 million. First-half sales and earnings were up in all of the company’s core businesses — Dairy Foods, Layers, Feed and Crop Inputs.
“These very positive results were driven by a combination of factors, including improved agricultural markets, solid performance by our core branded and proprietary products, and new products that have been very well-received by both consumers and our commercial customers,” said Chris Policinski, president and chief executive officer.