8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2009

Lancaster Colony Corporation

(Exact name of registrant as specified in its charter)

Ohio	000-04065	13-1955943
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

37 West Broad Street Columbus, Ohio	43215
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: 614-224-7141

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

On October 29, 2009, Lancaster Colony Corporation issued a press release announcing its results for the three months ended September 30, 2009. The press release is attached as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits:

99.1 Press Release dated October 29, 2009

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Lancaster Colony Corporation
	(Registrant)
Date: October 29, 2009	By:	/s/ John L. Boylan
		John L. Boylan
		Treasurer, Vice President,
		Assistant Secretary,
		Chief Financial Officer and Director
		(Principal Financial and Accounting Officer)

INDEX TO EXHIBITS

Exhibit
Number		Description	Located at
	99.1	Press Release dated October 29, 2009	Filed herewith

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE	SYMBOL: LANC
Thursday, October 29, 2009	TRADED: Nasdaq

LANCASTER COLONY REPORTS HIGHER FIRST QUARTER FISCAL 2010 NET INCOME

COLUMBUS, Ohio, Oct. 29 — Lancaster Colony Corporation (Nasdaq: LANC) today reported lower sales but higher net income for its first fiscal quarter ended September 30, 2009:

• Net sales reached $254 million, off nearly four percent from first quarter sales of $264 million last year.

• Specialty Foods net sales totaled $216.3 million, down two percent from the year-ago record level, reflecting a decline in foodservice sales that was not fully offset by solid growth in retail sales.

• Glassware and Candles sales were $37.8 million, a decline of 12 percent from the year-ago quarter, reflecting generally weaker retail markets, competitive factors and the shifting of some seasonal sales to the second fiscal quarter.

• Net income of $28,405,000, or $1.01 per diluted share, increased from the prior-year total of $11,020,000, or $.39 per diluted share.

• The cash dividend was continued at the higher rate set in November 2008.

• The company’s strong balance sheet showed no debt outstanding at September 30, 2009.

Chairman and CEO John B. Gerlach, Jr. said, “We are pleased that both business segments achieved substantial improvement in first quarter operating results, with Specialty Foods operating margins benefiting from the decline in ingredient costs from the prior-year’s historically high levels.”

Specialty Foods sales were lower as the foodservice channel was affected by generally weak consumer demand and reduced pricing due to lower commodity costs. In contrast, retail sales continued to grow, up approximately five percent from gains in both frozen and non-frozen products. Operating income of $43.2 million nearly doubled, reflecting over $17 million in lower raw-material costs as well as operational improvements and a greater retail sales mix. Plant closing costs associated with the consolidation of certain manufacturing facilities totaled approximately $0.9 million and $0.8 million in the current and prior-year’s first quarter, respectively.

Net sales of candles and related products declined for the quarter due to several factors, including competitive market conditions and some shifting of seasonal sales to the second quarter. Segment operating income of $1.7 million improved by over $4.5 million, reflecting lower wax costs, higher operating levels and improved pricing.

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PAGE 2 / LANCASTER COLONY REPORTS HIGHER FIRST QUARTER FISCAL 2010 NET INCOME

Corporate expenses decreased $0.4 million, as the prior-year’s quarter reflected approximately $0.8 million related to the razing of a former industrial glass operation.

The first-quarter’s effective tax rate reflects income associated with the favorable resolution of certain previously-reserved state tax matters. These items totaled approximately $0.9 million before tax, or about $.03 per share, net of applicable income taxes.

“Looking at our current second quarter,” Mr. Gerlach said, “we anticipate that both operating segments will continue to benefit from many of the factors that contributed to the improvement in first-quarter operating margins. In addition, although lower-margined, we expect seasonal candle sales to outpace last year’s levels. While consumer demand continues to be challenged by a weak economic environment, particularly in foodservice channels, we are again expecting comparative improvement in the quarter’s operating results. We are well-positioned to support future growth, and we expect to carry our strong balance sheet into calendar 2010.”

Conference Call on the Web

The company’s first quarter conference call is scheduled for this morning, October 29, at 10:00 a.m. ET. You may access the call through a live webcast by using the link provided on the company’s Internet home page at www.lancastercolony.com. Replays of the webcast will be made available on the company website.

About the Company

Lancaster Colony Corporation is a diversified manufacturer and marketer of consumer products focusing primarily on specialty foods for the retail and foodservice markets.

Forward-Looking Statements

We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). This news release contains various “forward-looking statements” within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words “anticipate,” “estimate,” “project,” “believe,” “intend,” “plan,” “expect,” “hope” or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward- looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed in the forward-looking statements. Actual results may differ as a result of factors over which we have no, or limited, control. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on such statements that are based on current expectations. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements. More detailed statements regarding significant events that could affect our financial results are included in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission and are available on our website at www.lancastercolony.com.

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PAGE 3 / LANCASTER COLONY REPORTS HIGHER FIRST QUARTER FISCAL 2010 NET INCOME

LANCASTER COLONY CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In thousands except per-share amounts)

	Three Months Ended
	September 30,
	2009		2008
Net sales	$	254,160	$	263,837
Cost of sales		190,453		224,168
Gross margin		63,707		39,669
Selling, general & administrative expenses		20,468		20,261
Restructuring and impairment charges		830		1,614
Operating income		42,409		17,794
Interest expense		—		(491	)
Interest income and other — net		25		75
Income before income taxes		42,434		17,378
Taxes based on income		14,029		6,358
Net income	$	28,405	$	11,020
Net income per common share:(a)
Net income — basic and diluted	$	1.01	$	.39
Cash dividends per common share	$	.285	$	.28
Weighted average common shares outstanding:
Basic		28,081		28,262
Diluted		28,115		28,264

(a) Based on the weighted average number of shares outstanding during each period.

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PAGE 4 / LANCASTER COLONY REPORTS HIGHER FIRST QUARTER FISCAL 2010 NET INCOME

LANCASTER COLONY CORPORATION
BUSINESS SEGMENT INFORMATION (Unaudited)
(In thousands)

	Three Months Ended
	September 30,
	2009			2008
NET SALES
Specialty Foods	$	216,341		$	220,786
Glassware and Candles		37,819			43,051
	$	254,160		$	263,837
OPERATING INCOME (LOSS)
Specialty Foods	$	43,152		$	23,489
Glassware and Candles		1,671			(2,862	)
Corporate expenses		(2,414	)		(2,833	)
	$	42,409		$	17,794

LANCASTER COLONY CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
(In thousands)

	September 30,		June 30,
	2009		2009
ASSETS
Current assets:
Cash and equivalents	$	52,440	$	38,484
Receivables — net of allowance for doubtful accounts		78,195		61,152
Total inventories		110,605		102,523
Deferred income taxes and other current assets		23,951		20,653
Total current assets		265,191		222,812
Net property, plant and equipment		168,304		170,900
Other assets		104,156		104,769
Total assets	$	537,651	$	498,481
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	42,674	$	41,180
Accrued liabilities		46,969		33,399
Total current liabilities		89,643		74,579
Other noncurrent liabilities and deferred income taxes		21,500		21,346
Shareholders’ equity		426,508		402,556
Total liabilities and shareholders’ equity	$	537,651	$	498,481

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FOR FURTHER INFORMATION:	John B. Gerlach, Jr., Chairman and CEO, or
	John L. Boylan, Vice President, Treasurer and CFO
	Lancaster Colony Corporation
	Phone: 614/224-7141
	—or—
	Investor Relations Consultants, Inc.
	Phone: 727/781-5577 or E-mail: lanc@mindspring.com