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CLancaster Colony Lancaster Colony Corporation 380 Polaris Parkway , Suite 400 Westerville , Ohio 43082 ( 614 ) 224-7141 news FOR IMMEDIATE RELEASE May 4 , 2021 SYMBOL : LANC TRADED : Nasdaq LANCASTER COLONY REPORTS THIRD QUARTER SALES AND EARNINGS WESTERVILLE , Ohio , May 4 - Lancaster Colony Corporation ( Nasdaq : LANC ) today reported results for the company's fiscal third quarter ended March 31 , 2021 . Summary • • • • Consolidated net sales increased 11.2 % to a third quarter record $ 357.2 million versus $ 321.4 million last year . Retail net sales grew 17.1 % to $ 198.4 million while Foodservice net sales advanced 4.6 % to $ 158.9 million . Excluding all Omni Baking sales attributed to a temporary supply agreement that was terminated effective October 31 , 2020 , consolidated net sales increased 13.0 % . Consolidated gross profit increased 17.7 % to $ 90.6 million . Consolidated operating income grew 24.7 % to $ 37.4 million . Net income was $ 1.05 per diluted share versus $ 0.81 per diluted share last year . CEO David A. Ciesinski commented , " We were very pleased to complete our fiscal third quarter with record sales and significant gains in gross profit and operating income . I extend my sincerest thanks to all the Lancaster Colony associates for their many contributions in support of these strong results despite all the challenges posed by the impacts of COVID - 19 . Our top priorities remain the health , safety and welfare of our employees and continuing to play our part in the country's vital food supply chain . ” “ In the fiscal third quarter , strong double - digit growth in our Retail business was driven by the success of our licensing program and higher demand for at - home food consumption due to the impacts of COVID - 19 . Chick - fil - A® sauces , Olive Garden® dressings and Buffalo Wild Wings® sauces were noted contributors to the Retail sales gains . In Foodservice , quick - service restaurant and pizza chain customers in our mix of national chain restaurant accounts remained a source of strength as our Foodservice segment sales began to lap the steep declines of last spring . Excluding all Omni Baking sales , Foodservice segment net sales grew 8.4 % . " " Looking ahead to our fiscal fourth quarter , we expect net sales to benefit from continued gains in Retail for dressings and sauces sold under exclusive license agreements . We also foresee a notable pickup in Foodservice sales as many of our national chain restaurant customers have indicated expectations for increasing consumer demand as vaccine distribution expands , stimulus dollars are spent , and warmer weather accommodates more outdoor dining . The impacts of COVID - 19 will remain a headwind for our manufacturing costs , and the upward trend in commodity costs is projected to accelerate . Our ongoing cost savings programs and net price realization efforts will help to offset these higher expenses . Implementation for Project Ascent , our ERP initiative , is scheduled to commence in fiscal 2022. " MORE ...