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Adjustments to reconcile net (loss)/income to cash from operating activities: Changes in operating assets and liabilities, excluding business acquisitions and foreign currency translation adjustments, Net cash provided by operating activities, Proceeds from sale of fixed assets and insurance recoveries, Business acquisition, net of cash acquired, Excess tax benefit from stock-based compensation, Share repurchases, including shares surrendered for tax withholding, Net proceeds from existing credit facilities, Net cash provided by/(used in) financing activities, Cash paid for income taxes, net of refunds of $1,522 and $678, respectively, Common stock and stock-based compensation issued for business acquisitions, Net income attributable to Snyder's-Lance, Transaction and integration related expenses, net of tax, Legal fees and settlement accrual, net of tax, Net loss attributable to noncontrolling interests, Net income attributable to noncontrolling interests. The Company’s fiscal 2016 outlook excludes special items and charges associated with the acquisition of Diamond Foods. Cautionary Information about Forward Looking StatementsThis press release contains statements which may be forward looking within the meaning of applicable securities laws. (2) Includes accrual for legal fees and contingent liabilities associated with expected settlements related to employee classification and industry wide packaging claims. The merger was announced in July 2010 and completed in December of 2010. Menu & Reservations Make Reservations . Total net revenue in the third quarter of 2016 was $588.8 million, an increase of 41.3% compared to net revenue of $416.8 million in the third quarter of 2015. Amazon.com: Snyder's-Lance Variety Packs Classic Snack Pack with Pretzel Crisps, Cape Cod, Kettle Brand Potato Chips & Late July Tortilla Chips, 16 Count Consider these available items Kettle Brand Potato Chips Variety Pack, Sea Salt & Vinegar, Krinkle Salt & Pepper, Backyard BBQ and Jalapeno, 30 Count 4.5 out of 5 stars 1,313 $16.98$16.98 The non-GAAP measures and related comparisons should be considered in addition to, not as a substitute for, our GAAP disclosure, as well as other measures of financial performance reported in accordance with GAAP, and may not be comparable to similarly titled measures used by other companies. Net Income, Earnings per Share and Effective Income Tax Rate, Excluding Special ItemsNet income, earnings per share, and the effective income tax rate, excluding special items, are metrics provided to present the reader with the after-tax impact of operating income, excluding special items, in order to improve the comparability and understanding of the related GAAP measures. Net interest expense in the third quarter of 2016 increased to $9.2 million as compared to $2.9 million in the third quarter of 2015. The Company has historically reported adjusted EBITDA to analysts and investors and believes that its continued inclusion provides consistency in financial reporting and enables analysts and investors to perform meaningful comparisons of past, present and future operating results. Adding Snyder's-Lance's snack brands will bring that proportion up to roughly 46 percent of Campbell's annual net sales. The Snyder’s Lance brand is owned by Campbell Soup , a company listed in New York. Snyder’s of Hanover and Lance merged in 2010. 04-Sep-2019 By Kristine Sherred. The company s products are distributed through a direct-store-delivery system of approximately 1,800 sales routes, a network of independent distributors and direct shipments to customer locations. ... EVP and Chief Supply Chain Officer at CONAGRA BRANDS. Soft pretzels elicit a characteristic aroma that is markedly different from other baked goods, but scientific data on this is scarce, prompting researchers to pinpoint the odorants responsible. The implied fourth quarter guidance range reflects the historically strong seasonal contribution of the Diamond of California culinary nut business. About Snyder's-Lance, Inc. ... Glassdoor has 331 Snyder's-Lance reviews submitted anonymously by Snyder's-Lance employees. To participate in the conference call, the dial-in number is (844) 830-1960 for U.S. callers or (315) 625-6883 for international callers. Net income, earnings per share, and the effective income tax rate, excluding special items, provide transparent and useful information to management, investors, analysts and other parties in evaluating and assessing our primary operating results after removing the impact of unusual, non-operational or restructuring or transaction related activities that affect comparability. Adjusted EBITDA Snyder’s-Lance defines adjusted EBITDA as earnings before interest expense, income taxes, depreciation and amortization (“EBITDA”), further adjusted to exclude restructuring or transaction related expenses, and other non-cash or non-operating items as well as any other unusual items that impact the comparability of our financial information. Campbell's soup brands — … (5) For the third quarter of 2015, other items include severance expense and professional fees. On August 30, 2013, Snyder's-Lance acquired Stateline Service Corp. and no purchase price was disclosed. Other income, net, increased $3.6 million in the third quarter of 2016 compared to the third quarter of 2015. Created in 2010 (United States), Snyder’s Lance has more than 37 sister brands and more than 7 630 competing brands. Products are distributed nationally through grocery and mass merchandisers, convenience stores, club stores, food service outlets and other channels. © Copyright - Snyder's-Lance Inc. Sign up to our free newsletter and get the latest news sent direct to your inbox, A new clean label ingredient for healthy baking, Ensuring Proper Allergen Management in Your Wholesale Bakery, SCORPION짰 2 Digital Humidity Sensor: New patented digital technology measures humidity in all your baking processes, Exploring Innovation for Sweet Baked Products, Sign up to our free newsletter and get the latest news sent direct to your inbox, Processing Equipment & Systems, Automation, Control, Packaging & Packing Materials, Containers, Campbell Snacks chief returns to his roots, Campbell to shed European chips arm in estimated $80m deal, Roasty, fatty and sweaty: Study determines aroma profile of freshly baked soft pretzels, Private label pretzel maker adds industry vets and factory space, Snyder���s alum drives newly-formed Benestar���s debut in BFY snack space with Evans acquisition, Lance Crackers partners with Little League for game-break snacking, Campbell eyes sale of Kettle Chips to tackle debt, Snyder���s Lance ad campaign touches nostalgia, whimsy and transparency, Ferrero ���close��� to finalizing deal to acquire Campbell���s international biscuits and snacks segment, Campbell���s Q1 results bolstered by strong snacks sales, SNAC launches Women in Snacks network to embrace diversity and inclusion, In the news: The latest on PepsiCo, Nestl챕, Kellogg, Campbell Soup, Mondel��z and Grupo Bimbo, 2018's hottest sweets and snacks in US convenience stores: Kellogg, Hershey, Mars, Conagra, Jack Links, and more, Cape Cod Potato Chips lays off workers in site upgrade, Kraft Heinz reports higher-than-expected Q2 sales, but can���t expunge Campbell Soup speculation, News & Analysis on the Bakery and Snacks Industries. Lance is an American brand of snack foods owned by the Snyder's-Lance company headquartered in Charlotte, North Carolina. FMCG giants join global pledge to fight plastic pollution; Campbell in fight to avoid split; Mondel��z set to up prices of biscuits in the US; and Grupo Bimbo���s CEO wins CSR award. (3) Includes accrual for legal fees and contingent liabilities associated with expected settlements related to employee classification and industry wide packaging claims. 22-Aug-2019 By Gill Hyslop. Excluding the contribution from Diamond Foods, net revenue in the third quarter of 2016 increased 0.7% compared to the third quarter of 2015. We expect a more significant impact from our planned income tax restructuring in Q4 2016. The effective tax rate, excluding special items, was 29.2% in the third quarter of 2016 as compared to 30.6% in the third quarter of 2015. US pork rind snack producer Evans Food Group has been acquired by Highlander Partners through its newly-formed food platform Benestar Brands, which is to be headed by Carl E. Lee, former CEO of Snyder���s-Lance. Welcome to our Direct Sales. Free newsletter 27-Jun-2019 By Kristine Sherred. Nothing contained on the Website shall be considered a recommendation, solicitation, or offer to buy or sell a security to any person in any jurisdiction. The gross margin improvement was partially offset by the planned higher marketing, advertising and trade expenses to support growth of the Company’s core brands. The effective tax rate for the third quarter of 2016 was favorably impacted by a reduction in the United Kingdom’s statutory income tax rate. Authorized 5,000,000 shares; no shares outstanding, Total Snyder’s-Lance, Inc. stockholders’ equity. This year, it will add an onsite campaign during the championship series in August. The Company believes this measure is useful to investors because it increases transparency and assists investors in understanding the underlying performance of the Company and in the analysis of ongoing operating trends. Kraft Heinz reported second quarter earnings that topped Wall Street���s forecasts amid persistent rumors of a Campbell Soup acquisition. Pretzels Inc. has hired two R&D leads and one board member with plenty of pretzel experience as it continues a 120k-square-foot expansion of its manufacturing facility in Plymouth, Indiana. Forgotten Password. Snyder's - Lance is the company formed from the merger of Lance, Inc and Snyder's of Hanover in July 2010. 14-Sep-2018 By Gill Hyslop. Adjusted EBITDA should not be considered as an alternative to net income, determined in accordance with Generally Accepted Accounting Principles (“GAAP”), as an indicator of the Company’s operating performance, as an indicator of cash flows, or as a measure of liquidity. Camden, N.J.-based Campbell Soup produces foods and meals, including soup and sauces, snacks and healthy beverages. Factors that could cause actual results to differ include general economic conditions or an economic turndown; volatility in the price, quality or availability of inputs, including walnuts and other raw materials, packaging, energy and labor; price competition and industry consolidation; changes in our top retail customer relationships; inability to maintain profitability in the face of a consolidating retail environment; failure to successfully integrate acquisitions or execute divestitures; loss of key personnel; failure to execute and accomplish our strategy; concerns with the safety and quality of certain food products or ingredients; adulterated, misbranded or mislabeled products or product recalls; disruption of our supply chain; failure to maintain satisfactory labor relations; risks related to our foreign operations, including foreign currency risks; inadequacies in, or security breaches of, our information technology systems; improper use of social media; changes in consumer preferences and tastes or inability to innovate or market our products effectively; reliance on distribution through a significant number of independent business owners; protection of our trademarks and other intellectual property rights; impairment in the carrying value of goodwill or other intangible assets; new regulations or legislation; interest rate volatility, political and economic conditions of the countries in which we conduct business, and the interests of a few individuals who control a significant portion of our outstanding shares of common stock may conflict with those of other stockholders, which have been discussed in greater detail in our most recent Form 10-K and other reports filed with the Securities and Exchange Commission. The replay access code is 97663353. Net revenue in the third quarter of 2016, excluding the contribution of the acquired Diamond Foods brands, included Branded category growth of 2.6% driven by an approximately 6% increase in volume. Revenue of $75,401,000, was down 4.5% from $78,958,000 in the previous year’s second quarter. Snyder's-Lance's products include pretzels, sandwich crackers, pretzel crackers, potato chips, cookies, tortilla chips, restaurant style crackers, popcorn, nuts and other snacks. At Snyder’s-Lance we appreciate the importance of corporate social responsibility (CSR). If you're familiar with the munchies named Toastchee, Nip Chee, and Captain's Wafers, Snyder's-Lance (formerly Lance) has undoubtedly helped you satisfy a snack attack. Investors may also access a web-based replay of the conference call at www.snyderslance.com. For more information, visit the Company's corporate website: www.snyderslance.com. Net revenue of $2,290 million to $2,310 million; Excluding the contribution from Diamond Foods net revenue growth is expected to be approximately flat to up 1.5%; Net revenue contribution from Diamond Foods for the 10 months beginning February 29, 2016, of approximately $630 million to $640 million, net of the impact of intercompany eliminations and reflecting the negative impact of net price realization from lower walnut costs and unfavorable foreign currency; Adjusted EBITDA of $310 million to $320 million; and. Snyder's-Lance has manufacturing facilities in North Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Massachusetts, Texas, Florida, Ohio and Ontario, Canada. Only a handful of women lead with world���s largest companies. Total net revenue in the third quarter of 2016 increased 41.3% including the contribution of Diamond Foods. ET on November 7, 2016. Read employee reviews and ratings on Glassdoor to decide if Snyder's-Lance is right for you. Shortly after releasing its 2019 fiscal year earnings, the soup and snack company said it would sell UK-based Kettle Foods and Netherlands-based Yellow Chips to a private equity firm. “Our Legacy Snyder’s-Lance brands delivered 2.6% year over year growth, driven by core brand growth of 3.7% led by Snack Factory®, Cape Cod® and Lance®. *Descriptions of measures excluding special items are provided in “Use and Definition of Non-GAAP Measures,” and reconciliations are provided in the tables at the end of this release. Charlotte, North Carolina. Weighted average basic shares outstanding, Weighted average diluted shares outstanding, Accounts receivable, net of allowances of $1,110 and $917, respectively, Prepaid income taxes and income taxes receivable, Prepaid expenses and other current assets, Accrued marketing, selling and promotional costs, Common stock, $0.83 1/3 par value. Operating income in the third quarter of 2016 increased 93.6% to $47.9 million, as compared to $24.8 million in the third quarter of 2015. As of 2018, Snyder's-Lance is owned by Campbell's. CHARLOTTE, N.C., Nov. 07, 2016 (GLOBE NEWSWIRE) -- Snyder’s-Lance, Inc. (Nasdaq:LNCE) today reported financial results for the third quarter ended October 1, 2016 and narrowed its full-year 2016 earnings per share outlook to the upper-end of the Company’s previous expectations. The increase in net interest expense was the result of additional debt utilized to finance the acquisition of Diamond Foods. Despite incremental investments in advertising and consumer promotions, productivity and sales … Hunger-Busting Power. On September 6, 2012, Snyder's-Lance agreed to acquire Snack Factory for $312 million. Only risk what you can afford to lose. Our early revenue synergies include wins in the club, drug and small format channels, as retailers expand their distribution of our premium brands.”, Mr. Lee continued, “We have assembled a portfolio of brands on trend with the growing consumer demand for organic, gluten free, non-GMO certified, and reduced fat. The conference ID is 97663353. 31-Oct-2018 By Gill Hyslop. It facilitates brands such as Synder’s of Hanover, Lance, Kettle, Cape Cod, Pretzel Crisps, Pop-secret, Emerald, Diamond, Late July, Tom’s, Krunchers, eatsmart, archway, and more. (3) For the third quarter of 2016, other items primarily consist of Metcalfe's transaction-related expenses including transaction costs and severance benefits, as well as an inventory step-up of $0.2 million. The Partner Brand segment of Snyder’s-Lance had a less successful quarter. About Snyder’s-Lance, Inc.Snyder's-Lance, Inc., headquartered in Charlotte, NC, manufactures and markets snack foods throughout the United States and internationally. Snyder’s Lance ad campaign touches nostalgia, whimsy and transparency 19-Mar-2019 By Kristine Sherred Campell Snacks is flexing its muscles with fresh advertising for key brands – Cape Cod, Kettle Chips, Snyder’s of Hanover and Goldfish – a year after acquiring Snyder’s Lance for an estimated $1.6bn. (4) For the third quarter of 2016, other items primarily consist of Metcalfe's transaction-related expenses including transaction costs and severance benefits, as well as an inventory step-up of $0.2 million. 277 Snyder's-Lance reviews. 07-Aug-2019 By Gill Hyslop. A continuous telephone replay of the call will be available between 12:00 p.m. on November 7 and midnight on November 14. Products are sold under the Lance, Cape Cod and Tom s brand names along with a number of private labels and third party brands. “Our Legacy Snyder’s-Lance brands delivered 2.6% year over year growth, driven by core brand growth of 3.7% led by Snack Factory ®, Cape Cod ® and Lance ®. Members of Weighted average diluted share count of approximately 93 million to 94 million shares. 21-Nov-2018 By Gill Hyslop. While EBITDA and adjusted EBITDA and similar measures are frequently used as measures of operations and the ability to meet debt service requirements, they are not necessarily comparable to other similarly titled captions of other companies due to the potential inconsistencies in the method of calculation. Net income attributable to Snyder’s-Lance, Inc. excluding special items* for the third quarter of 2016, increased 80.8% to $33.7 million, as compared to $18.6 million in the third quarter of 2015. Company management believes the presentation of 2016 Net Revenue Excluding Diamond Foods is useful for providing increased transparency and assisting investors in understanding our ongoing operating performance. Snyder's-Lance, Inc. | Company Profile, Marketing Contacts, Media Spend, Brands Lance, Inc. manufactures and markets snack foods throughout much of the United States and other parts of North America. The information on this Website is not reliable and not intended to provide tax, legal, or investment advice. Capital expenditures of $75 million to $80 million. Snyder's-Lance, Inc. is the second largest salty snack maker in the United States. 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