Land O' Lakes churns out higher sales
Oct 23, 2003 12:00 PM, from staff and wire reportsLand O' Lakes Inc, a marketer of dairy-based products nationwide, has reported year-to-date sales of $4.4 billion and net earnings of $42.9 million, compared with sales of $4.3 billion and net earnings of $35.3 million in the first nine months of 2002.
For the third quarterÑtraditionally its weakestÑLand O' Lakes is reporting $1.58 billion in sales and a net loss of $1.4 million, versus $1.4 billion in sales and a net loss of $12.0 million in 2002.
Land O' Lakes paid down term debt by $25 million during the third quarter and made another $16 million payment in October. Year-to-date, principal payments on the company's term debt have totaled $121 million.