Lancaster Colony (LANC) 8-K Lancaster Colony Reports Third Quarter Sales and Earnings

Exhibit 99.2

Lancaster Colony Corporation
Consolidated Statements of Income (Unaudited)
Fiscal 2014
(In thousands except per-share amounts)
The following table reflects the reclassification of fiscal 2014 to date quarterly amounts for the discontinued operations presentation of our sold candle manufacturing and marketing operations:
										Year to Date
	First			Second			Third			March 31,
	Quarter			Quarter			Quarter			2014
Net Sales	$	248,137		$	292,281		$	241,849		$	782,267
Cost of Sales	190,966			210,658			189,941			591,565
Gross Margin	57,171			81,623			51,908			190,702
Selling, General & Administrative Expenses	20,740			25,438			23,073			69,251
Operating Income	36,431			56,185			28,835			121,451
Interest Income & Other - Net	(38		)	(86		)	(204		)	(328		)
Income From Continuing Operations Before Income Taxes	36,393			56,099			28,631			121,123
Taxes Based on Income	12,341			18,966			9,731			41,038
Income From Continuing Operations	24,052			37,133			18,900			80,085
Discontinued Operations:
Income From Discontinued Operations, Net of Tax	749			2,101			325			3,175
Loss on Sale of Discontinued Operations, Net of Tax	—			—			(29,601		)	(29,601		)
Total Discontinued Operations	749			2,101			(29,276		)	(26,426		)
Net Income (Loss)	$	24,801		$	39,234		$	(10,376	)	$	53,659
Income (Loss) Per Common Share: (1)
Continuing Operations - Basic	$	0.88		$	1.36		$	0.69		$	2.93
Discontinued Operations - Basic	$	0.03		$	0.08		$	(1.07	)	$	(0.97	)
Net Income (Loss) Per Common Share - Basic	$	0.91		$	1.44		$	(0.38	)	$	1.97
Continuing Operations - Diluted	$	0.88		$	1.36		$	0.69		$	2.93
Discontinued Operations - Diluted	$	0.03		$	0.08		$	(1.07	)	$	(0.97	)
Net Income (Loss) Per Common Share - Diluted	$	0.91		$	1.44		$	(0.38	)	$	1.96
Dividends Per Share	$	0.40		$	0.44		$	0.44		$	1.28
Weighted Average Common Shares Outstanding - Basic	27,268			27,244			27,261			27,258
Weighted Average Common Shares Outstanding - Diluted	27,312			27,299			27,297			27,303
(1) Basic and diluted income per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly income per share amounts may not agree with the year-to-date total.

Lancaster Colony Corporation
Consolidated Statements of Income (Unaudited)
Fiscal 2013
(In thousands except per-share amounts)
The following table reflects the reclassification of fiscal 2013 quarterly amounts for the discontinued operations presentation of our sold candle manufacturing and marketing operations:
	First			Second		Third			Fourth			Fiscal Year
	Quarter			Quarter		Quarter			Quarter			2013
Net Sales	$	248,881		$	272,634	$	247,098		$	245,190		$	1,013,803
Cost of Sales	187,760			200,588		193,265			187,483			769,096
Gross Margin	61,121			72,046		53,833			57,707			244,707
Selling, General & Administrative Expenses	21,157			25,035		23,113			21,479			90,784
Operating Income	39,964			47,011		30,720			36,228			153,923
Interest Income & Other - Net	(2		)	11		(15		)	(99		)	(105		)
Income From Continuing Operations Before Income Taxes	39,962			47,022		30,705			36,129			153,818
Taxes Based on Income	13,707			15,551		9,972			10,728			49,958
Income From Continuing Operations	26,255			31,471		20,733			25,401			103,860
Discontinued Operations:
Income From Discontinued Operations, Net of Tax	407			3,806		1,100			76			5,389
Total Discontinued Operations	407			3,806		1,100			76			5,389
Net Income	$	26,662		$	35,277	$	21,833		$	25,477		$	109,249
Income Per Common Share: (1)
Continuing Operations - Basic	$	0.96		$	1.15	$	0.76		$	0.93		$	3.80
Discontinued Operations - Basic	$	0.01		$	0.14	$	0.04		$	—		$	0.20
Net Income Per Common Share - Basic	$	0.98		$	1.29	$	0.80		$	0.93		$	4.00
Continuing Operations - Diluted	$	0.96		$	1.14	$	0.76		$	0.93		$	3.79
Discontinued Operations - Diluted	$	0.01		$	0.14	$	0.04		$	—		$	0.20
Net Income Per Common Share - Diluted	$	0.98		$	1.28	$	0.80		$	0.93		$	3.99
Dividends Per Share	$	0.36		$	5.38	$	0.38		$	0.40		$	6.52
Weighted Average Common Shares Outstanding - Basic	27,229			27,243		27,259			27,277			27,252
Weighted Average Common Shares Outstanding - Diluted	27,264			27,273		27,287			27,316			27,285
(1) Basic and diluted income per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly income per share amounts may not agree with the total year.

Lancaster Colony Corporation
Business Segment Information (Unaudited)
Fiscal 2014 & 2013
(In thousands)
The following reflects the reclassification of quarterly amounts for the discontinued operations presentation of our sold candle manufacturing and marketing operations:
										Year to Date
	First			Second			Third			March 31,
	Quarter			Quarter			Quarter			2014
Net Sales - Specialty Foods Segment	$	248,137		$	292,281		$	241,849		$	782,267
Operating Income
Specialty Foods Segment	$	39,543		$	59,413		$	31,408		$	130,364
Corporate Expenses	(3,112		)	(3,228		)	(2,573		)	(8,913		)
Consolidated Totals	$	36,431		$	56,185		$	28,835		$	121,451
													Year Ended
	First			Second			Third			Fourth			June 30,
	Quarter			Quarter			Quarter			Quarter			2013
Net Sales - Specialty Foods Segment	$	248,881		$	272,634		$	247,098		$	245,190		$	1,013,803
Operating Income
Specialty Foods Segment	$	42,758		$	50,384		$	33,648		$	38,920		$	165,710
Corporate Expenses	(2,794		)	(3,373		)	(2,928		)	(2,692		)	(11,787		)
Consolidated Totals	$	39,964		$	47,011		$	30,720		$	36,228		$	153,923