December 25, 2014 11:54 AM ET

Food Products

Company Overview of Seneca Foods Corp.

Company Overview

Seneca Foods Corporation produces and distributes packaged fruits and vegetables in the United States and internationally. It offers canned, frozen, and bottled produce and snack chips, including canned fruits and vegetables, frozen vegetables, and other food products under private label, as well as national and regional brands that the it owns or licenses, including Seneca, Libby’s, Aunt Nellie’s, READ, and Seneca Farms. The company also packs Green Giant, Le Sueur, and other brands of canned vegetables, as well as select Green Giant frozen vegetables for General Mills Operations, LLC under a long-term alliance agreement. It is also involved in the sale of cans and ends, as well as trucking...

3736 South Main Street

Marion, NY 14505

United States

Founded in 1949

3,100 Employees

Phone:

315-926-8100

Key Executives for Seneca Foods Corp.

Chief Executive Officer
Age: 53
Total Annual Compensation: $562.7K
Founder and Chairman
Age: 88
Total Annual Compensation: $562.6K
Chief Financial Officer
Age: 55
Total Annual Compensation: $210.9K
Chief Operating Officer and Executive Vice President
Age: 51
Total Annual Compensation: $336.5K
Senior Vice President of Sales and Marketing
Age: 51
Total Annual Compensation: $228.5K
Compensation as of Fiscal Year 2014.

Seneca Foods Corp. Key Developments

Seneca Foods Corp. Announces Unaudited Consolidated Financial Results for the Second Quarter and Year-To-Date Ended September 27, 2014

Seneca Foods Corp. announced unaudited consolidated financial results for the second quarter and year-to-date ended September 27, 2014. For the quarter, the company reported net sales of $312,161,000 against $336,628,000 a year ago. Operating income was $686,000 against $6,783,000 a year ago. Loss before income taxes were $811,000 against earnings before income taxes of $5,235,000 a year ago. Net loss was $578,000 compared to net earnings of $6,603,000 a year ago. Loss attributable to common stock was $576,000 or $0.05 per diluted share against earnings attributable to common stock of $6,387,000 or $0.59 million a year ago. The decrease is attributable to a sales volume decrease of $36.0 million partially offset by favorable sales mix and higher selling prices of $11.5 million. Net earnings, excluding LIFO impact was $3.3 million or $0.30 per diluted share against $12.2 million or $1.09 per diluted share a year ago. For the year-to-date, the company reported net sales of $552,204,000 against $568,755,000 a year ago. Operating income was $1,684,000 against $10,571,000 a year ago. Loss before income taxes were $516,000 against earnings before income taxes of $7,196,000 a year ago. Net loss was $685,000 compared to net earnings of $7,950,000 a year ago. Loss attributable to common stock was $684,000 or $0.06 per diluted share against earnings attributable to common stock of $7,685,000 or $0.71 million a year ago. EBITDA was $12,963,000 compared to $22,100,000 a year ago. FIFO EBITDA was $18,533,000 compared to $36,535,000 a year ago. Net earnings, excluding LIFO impact was $2.9 million or $0.27 per diluted share against $17.3 million or $1.55 per diluted share a year ago.

Seneca Foods Corp. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended June 28, 2014

Seneca Foods Corp. reported unaudited consolidated earnings results for the first quarter ended June 28, 2014. For the quarter, the net loss was $0.1 million, or $0.01 per diluted share, compared to net earnings of $1.3 million, or $0.12 per diluted share, in the fiscal first quarter of 2014. Net sales for the first quarter ended June 28, 2014 increased from the first quarter ended June 29, 2013 by 3.4%, or $7.9 million to $240.0 million. The increase is attributable to favorable sales mix and higher selling prices of $10.0 million partially offset by a sales volume decrease of $2.1 million. Earnings before income tax were $0.295 million against $1.96 million a year ago. EBITDA was $6.94 million against $9.57 million a year ago. FIFO EBITDA was $6.59 million against $15.37 million a year ago.

Seneca Foods Corp., Annual General Meeting, Aug 07, 2014

Seneca Foods Corp., Annual General Meeting, Aug 07, 2014., at 13:00 Eastern Daylight. Location: 3736 South Main Street. Agenda: To elect three directors to serve until the annual meeting of shareholders in 2017 and until each of their successors is duly elected and shall qualify; to provide an advisory vote on executive compensation; to ratify the appointment of BDO USA, LLP as the company's independent registered public accounting firm for the fiscal year ending March 31, 2015; and to transact such other business as may properly come before the annual meeting or any adjournment thereof.

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Recent Private Companies Transactions

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May 27, 2014
--
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