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): April 29, 2010

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 April 29, 2010, Lancaster Colony Corporation issued a press release announcing its results for the three and nine months ended March 31, 2010. The press release is attached as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits:

99.1 Press Release dated April 29, 2010

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: April 29, 2010

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 April 29, 2010	Filed herewith

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE	SYMBOL: LANC
Thursday, April 29, 2010	TRADED: Nasdaq

LANCASTER COLONY REPORTS HIGHER THIRD QUARTER SALES AND EARNINGS

COLUMBUS, Ohio, Apr. 29 — Lancaster Colony Corporation (Nasdaq: LANC) today reported higher sales, operating income and net income for the company’s third fiscal quarter ended March 31, 2010 compared with the corresponding quarter a year ago. Highlights of the quarter:

• Net sales increased two percent to $250 million versus $246 million in the third quarter last year, reflecting sales growth in retail specialty food products and candles.

• Net income totaled $24,222,000 compared with $21,213,000 for the corresponding quarter a year ago. This growth was largely driven by increased operating income achieved by both business segments. Third quarter earnings per share totaled $.86 compared to $.76 a year ago.

• Specialty Foods sales declined slightly to $216 million due to continued softness in foodservice pricing and volumes. Retail food sales grew approximately six percent reflecting higher volumes, in part due to Easter occurring slightly earlier this year. Operating income totaled $38.7 million compared to $35.9 million in the third quarter last year, primarily reflecting a stronger retail sales mix and lower commodity costs. Marketing-related costs in the current-year quarter increased as a result of greater investments that were primarily directed toward consumers.

• Sales of the Glassware and Candles segment increased 16 percent to $33.9 million, primarily reflecting better unit volume of candles. With the additional benefits of lower paraffin wax costs and higher production levels, segment operating income improved to $1.7 million compared to an operating loss of approximately $0.9 million in the third quarter last year.

• The company’s balance sheet remained strong with no debt outstanding at March 31, 2010.

For the nine-months ended March 31, 2010, net sales were $809 million compared to $798 million last year. Net income was $92,154,000, or $3.27 per diluted share. Net income for the nine months a year ago totaled $60,685,000, or $2.16 per diluted share. Current year-to-date net income included pretax income of $0.9 million (two cents per share after taxes) from a second-quarter distribution received under the Continued Dumping and Subsidy Offset Act (CDSOA). In the prior year, net income included a pretax CDSOA distribution of $8.7 million (20 cents per share after taxes).

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PAGE 2 / LANCASTER COLONY REPORTS HIGHER 3^RD QUARTER SALES & EARNINGS

John B. Gerlach, Jr., chairman and CEO, said, “We were pleased with the continued bottom-line improvement in both operating segments. Within Specialty Foods, our increased investments in consumer-directed marketing and promotional programs helped us maintain our retail sales strength. We had somewhat better-than-anticipated candle growth, affirming our ability to deliver high-value, high-volume products to key customers in a challenging economy.”

Looking ahead, Mr. Gerlach said, “Coming off an improved third quarter, we foresee more challenging year-over-year comparisons in the fourth quarter as benefits from lower raw-material costs will likely subside further. Although sales trends within the Specialty Foods segment are unclear, we believe foodservice volumes will remain weaker than year-ago levels. We anticipate that marketing and consumer spending costs should be more in line with first-half levels. We are hopeful that our candle operations, entering the seasonally slow fourth quarter, will continue to demonstrate improvement. We are cautiously optimistic about the potential for fiscal 2011 top line improvements, but recognize that we may also face headwinds from moderately higher material costs.”

Conference Call on the Web

The company’s third quarter conference call is scheduled for this morning, April 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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LANCASTER COLONY CORPORATION
CONSOLIDATED STATEMENTS OF INCOME (Unaudited)
(In thousands except per-share amounts)

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2010			2009			2010		2009
Net sales	$	250,328		$	246,027		$	808,603	$	798,106
Cost of sales		188,405			193,385			598,196		647,632
Gross margin		61,923			52,642			210,407		150,474
Selling, general & administrative expenses		24,328			20,155			69,196		62,333
Restructuring and impairment charges		87			—			2,133		1,606
Operating income		37,508			32,487			139,078		86,535
Interest expense		—			(64	)		—		(1,194	)
Interest income and other — net		(6	)		65			946		8,565
Income before income taxes		37,502			32,488			140,024		93,906
Taxes based on income		13,280			11,275			47,870		33,221
Net income	$	24,222		$	21,213		$	92,154	$	60,685
Net income per common share:(a)
Net income — basic and diluted	$	.86		$	.76		$	3.27	$	2.16
Cash dividends per common share	$	.30		$	.285		$	.885	$	.85
Weighted average common shares outstanding:
Basic		28,173			27,933			28,134		28,048
Diluted		28,198			27,938			28,163		28,053

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

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

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2010			2009			2010			2009
NET SALES
Specialty Foods	$	216,471		$	216,894		$	675,911		$	683,073
Glassware and Candles		33,857			29,133			132,692			115,033
	$	250,328		$	246,027		$	808,603		$	798,106
OPERATING INCOME (LOSS)
Specialty Foods	$	38,702		$	35,910		$	138,000		$	99,050
Glassware and Candles		1,672			(927	)		9,485			(4,796	)
Corporate expenses		(2,866	)		(2,496	)		(8,407	)		(7,719	)
	$	37,508		$	32,487		$	139,078		$	86,535

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

	March 31,		June 30,
	2010		2009
ASSETS
Current assets:
Cash and equivalents	$	95,662	$	38,484
Receivables — net of allowance for doubtful accounts		80,011		61,152
Total inventories		97,353		102,523
Deferred income taxes and other current assets		29,848		20,653
Total current assets		302,874		222,812
Net property, plant and equipment		165,785		170,900
Other assets		103,202		104,769
Total assets	$	571,861	$	498,481
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	41,434	$	41,180
Accrued liabilities		33,553		33,399
Total current liabilities		74,987		74,579
Other noncurrent liabilities and deferred income taxes		21,347		21,346
Shareholders’ equity		475,527		402,556
Total liabilities and shareholders’ equity	$	571,861	$	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