Lancaster Colony (LANC) 8-K Lancaster Colony Reports Fiscal Year, Fourth Quarter Results

Exhibit 99.2

Lancaster Colony Corporation
Consolidated Statements of Income
(Unaudited)

The following table reflects the reclassification of fiscal 2008 quarterly amounts for the discontinued operations presentation of our sold automotive operations:

	Fiscal 2008											Year Ended
	First			Second		Third			Fourth			June 30,
(In thousands, except per share data)	Quarter			Quarter		Quarter			Quarter			2008
Net Sales	$	243,958		$	269,447	$	230,826		$	236,684		$	980,915
Cost of Sales		199,126			225,837		199,152			199,459			823,574
Gross Margin		44,832			43,610		31,674			37,225			157,341
Selling, General & Administrative Expenses		21,042			21,217		19,397			19,095			80,751
Restructuring and Impairment Charge		136			46		—			1,071			1,253
Operating Income		23,654			22,347		12,277			17,059			75,337
Interest Income and Other — Net		(803	)		1,808		(323	)		(351	)		331
Income From Continuing Operations Before Income Taxes		22,851			24,155		11,954			16,708			75,668
Taxes Based on Income		8,204			8,881		3,952			6,192			27,229
Income From Continuing Operations		14,647			15,274		8,002			10,516			48,439
Discontinued Operations, Net of Tax:
Income From Discontinued Operations		923			724		783			203			2,633
Loss on Sale of Discontinued Operations		—			—		(159	)		(13,293	)		(13,452	)
Total Discontinued Operations		923			724		624			(13,090	)		(10,819	)
Net Income (Loss)	$	15,570		$	15,998	$	8,626		$	(2,574	)	$	37,620
Income (Loss) Per Common Share: (1)
Continuing Operations — Basic and Diluted	$	0.48		$	0.51	$	0.27		$	0.37		$	1.64
Discontinued Operations — Basic and Diluted	$	0.03		$	0.02	$	0.02		$	(0.46	)	$	(0.37	)
Net Income (Loss) Per Common Share — Basic and Diluted	$	0.51		$	0.54	$	0.30		$	(0.09	)	$	1.28
Dividends Per Share	$	0.27		$	0.28	$	0.28		$	0.28		$	1.11
Weighted Average Common Shares Outstanding — Basic		30,412			29,855		29,115			28,596			29,494
Weighted Average Common Shares Outstanding — Diluted		30,420			29,860		29,128			28,598			29,499

(1) Basic and diluted earnings per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly earnings per share amounts may not agree with the total year.

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Lancaster Colony Corporation
Consolidated Statements of Income
(Unaudited)

The following table reflects the reclassification of fiscal 2007 quarterly amounts for the discontinued operations presentation of our sold automotive operations:

	Fiscal 2007												Year Ended
	First			Second			Third			Fourth			June 30,
(In thousands, except per share data)	Quarter			Quarter			Quarter			Quarter			2007
Net Sales	$	226,793		$	263,175		$	228,450		$	227,392		$	945,810
Cost of Sales		185,390			209,520			186,134			183,026			764,070
Gross Margin		41,403			53,655			42,316			44,366			181,740
Selling, General & Administrative Expenses		19,520			20,957			20,519			18,708			79,704
Restructuring and Impairment Charge		—			—			1,004			1,122			2,126
Operating Income		21,883			32,698			20,793			24,536			99,910
Interest Income and Other — Net		287			828			259			(24	)		1,350
Income From Continuing Operations Before Income Taxes		22,170			33,526			21,052			24,512			101,260
Taxes Based on Income		8,064			12,278			7,746			8,893			36,981
Income From Continuing Operations		14,106			21,248			13,306			15,619			64,279
Discontinued Operations, Net of Tax:
(Loss) Income From Discontinued Operations		(325	)		(3,419	)		(546	)		815			(3,475	)
Gain (Loss) on Sale of Discontinued Operations		—			—			739			(15,859	)		(15,120	)
Total Discontinued Operations		(325	)		(3,419	)		193			(15,044	)		(18,595	)
Net Income	$	13,781		$	17,829		$	13,499		$	575		$	45,684
Income (Loss) Per Common Share: (1)
Continuing Operations — Basic	$	0.44		$	0.67		$	0.42		$	0.50		$	2.04
Continuing Operations — Diluted	$	0.44		$	0.67		$	0.42		$	0.50		$	2.03
Discontinued Operations — Basic and Diluted	$	(0.01	)	$	(0.11	)	$	0.01		$	(0.48	)	$	(0.59	)
Net Income Per Common Share — Basic and Diluted	$	0.43		$	0.56		$	0.43		$	0.02		$	1.45
Dividends Per Share	$	0.26		$	0.27		$	0.27		$	0.27		$	1.07
Weighted Average Common Shares Outstanding — Basic		31,919			31,735			31,531			31,120			31,576
Weighted Average Common Shares Outstanding — Diluted		31,936			31,770			31,560			31,147			31,603

(1) Basic and diluted earnings per share are calculated independently for each of the quarters presented. Accordingly, the sum of the quarterly earnings per share amounts may not agree with the total year.

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Lancaster Colony Corporation
Business Segment Information
(Unaudited)

The following reflects the reclassification of quarterly amounts for the discontinued operations presentation of our sold automotive operations:

	Fiscal 2008												Year Ended
	First			Second			Third			Fourth			June 30,
(In thousands of dollars)	Quarter			Quarter			Quarter			Quarter			2008
Net Sales:
Specialty Foods	$	184,789		$	215,150		$	197,249		$	211,319		$	808,507
Glassware and Candles		59,169			54,297			33,577			25,365			172,408
	$	243,958		$	269,447		$	230,826		$	236,684		$	980,915
Operating Income:
Specialty Foods	$	23,774		$	28,309		$	14,361		$	22,531		$	88,975
Glassware and Candles		2,413			(780	)		(38	)		(3,482	)		(1,887	)
Corporate Expenses		(2,533	)		(5,182	)		(2,046	)		(1,990	)		(11,751	)
	$	23,654		$	22,347		$	12,277		$	17,059		$	75,337

	Fiscal 2007												Year Ended
	First			Second			Third			Fourth			June 30,
(In thousands of dollars)	Quarter			Quarter			Quarter			Quarter			2007
Net Sales:
Specialty Foods	$	172,287		$	192,594		$	178,212		$	185,564		$	728,657
Glassware and Candles		54,506			70,581			50,238			41,828			217,153
	$	226,793		$	263,175		$	228,450		$	227,392		$	945,810
Operating Income:
Specialty Foods	$	24,182		$	30,769		$	22,046		$	24,521		$	101,518
Glassware and Candles		(801	)		3,923			987			1,603			5,712
Corporate Expenses		(1,498	)		(1,994	)		(2,240	)		(1,588	)		(7,320	)
	$	21,883		$	32,698		$	20,793		$	24,536		$	99,910

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