-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, JYriiUCPX5JqSzvv+m+wB4KPbDoxM1+fVZcllUU3SMyqj0lwI7EuF3SfoVRJJMb3 29nkPVdchNFF5821PmI6ZQ== 0000088948-03-000035.txt : 20031112 0000088948-03-000035.hdr.sgml : 20031111 20031112140318 ACCESSION NUMBER: 0000088948-03-000035 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20031112 ITEM INFORMATION: ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20031112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SENECA FOODS CORP /NY/ CENTRAL INDEX KEY: 0000088948 STANDARD INDUSTRIAL CLASSIFICATION: CANNED, FRUITS, VEG & PRESERVES, JAMS & JELLIES [2033] IRS NUMBER: 160733425 STATE OF INCORPORATION: NY FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-01989 FILM NUMBER: 03992837 BUSINESS ADDRESS: STREET 1: 3736 SOUTH MAIN STREET CITY: MARION STATE: NY ZIP: 14534 BUSINESS PHONE: 315 926 8100 MAIL ADDRESS: STREET 1: 3736 SOUTH MAIN STREET CITY: MARION STATE: NY ZIP: 14505 FORMER COMPANY: FORMER CONFORMED NAME: PIERCE S S COMPANY INC DATE OF NAME CHANGE: 19861210 FORMER COMPANY: FORMER CONFORMED NAME: SENECA FOODS CORP DATE OF NAME CHANGE: 19780425 FORMER COMPANY: FORMER CONFORMED NAME: SENECA GRAPE JUICE CORP DATE OF NAME CHANGE: 19710419 8-K 1 a8k111203.txt EARNINGS PRESS RELEASE 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) November 12, 2003 SENECA FOODS CORPORATION ------------------------ (Exact Name of Registrant as Specified in Charter) New York 0-1989 16-0733425 - ------------------------ -------------------------- ---------- (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 3736 South Main Street, Marion, New York, 14505 ------------------------------------------------ (Address of Principal Executive Offices including zip code) 315/926-8100 ------------ (Registrant's telephone number including area code) Not Applicable -------------- Former name, former address and former fiscal year, if changed since last report ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits. Exhibit 99.1 Seneca Foods Corporation Press Release issued on November 12, 2003. ITEM 12. Results of Operations and Financial Condition On November 12, 2003, the Registrant issued a press release, which sets forth its results of operations for the six months ended September 27, 2003. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. 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. Date: November 12, 2003 SENECA FOODS CORPORATION By: /s/Kraig H. Kayser --------------------- Kraig H. Kayser President and Chief Executive Officer EX-99 2 ex9918k111203.txt PRESS RELEASE Exhibit 99.1 November 12, 2003 FOR IMMEDIATE RELEASE Contact: Philip Paras, CFO (315-926-8100) PRESS RELEASE Seneca Foods Corporation reported net sales for the quarter ended September 27, 2003, totaling $248,194,000 versus $183,806,000 for the comparable period last year. The current quarter's net earnings were $3,910,000 or $.35 per diluted share, compared with $2,090,000 or $.20 per diluted share, last year. Prior year results for the quarter and year-to-date periods include other expense of $620,000 for a non-cash impairment accrual. For the six months ended September 27, 2003, net sales totaled $399,490,000 versus $307,061,000 for the comparable period last year. The year-to-date net earnings were $7,582,000 or $.70 per diluted share as compared with $4,022,000, or $.39 per diluted share, last year. Seneca Foods Corporation is primarily a vegetable processing company with manufacturing facilities located throughout the United States. Its products are sold under the Libby's(R), Aunt Nellie's Farm Kitchen(R), Stokely's(R), READ(R), and Seneca(R) labels as well as through the private label and industrial markets. In addition, under an alliance with General Mills Operations, Inc., a successor to the Pillsbury Company and a subsidiary of General Mills, Inc., Seneca produces canned and frozen vegetables, which are sold by General Mills Operations, Inc. under the Green Giant(R) label. Seneca's common stock is traded on the Nasdaq National Stock Market under the symbols "SENEA" and "SENEB". Seneca Foods Corporation Consolidated Statements of Net Earnings For the Periods Ended September 27, 2003 and 2002 (In thousands of dollars, except share data)
Quarter Year-to-Date --------------------- --------------------- 2003 2002 2003 2002 ---- ---- ---- ---- Net sales $ 248,194 $ 183,806 $ 399,490 $ 307,061 ========= ========= ========= ========= Other expense (note 3) $ - $ (620) $ - $ (620) ========= ========= ========== ========= Earnings before income taxes $ 6,409 $ 3,319 $ 12,429 $ 6,593 Income taxes 2,499 1,229 4,847 2,571 --------- --------- ---------- --------- Net earnings $ 3,910 $ 2,090 $ 7,582 $ 4,022 ========= ========= ========== ========= Basic earnings per share $ 0.35 $ 0.21 $ 0.70 $ 0.39 ========= ========= ========== ========= Diluted earnings per share $ 0.35 $ 0.20 $ 0.70 $ 0.39 ========= ========= ========== ========= Weighted average shares outstanding basic 11,125,723 10,158,077 10,803,142 10,158,029 ========== ========== ========== ========== Weighted average shares outstanding diluted 11,193,113 10,225,467 10,870,532 10,225,419 ========== ========== ========== ========== Note 1: The basic earnings per share includes the effect of redeemable preferred convertible shares. The diluted earnings per share includes the effect of other convertible shares. Note 2: Results include the Chiquita Processed Foods, L.L.C. operations from the date of acquisition, May 27, 2003 (four months). Note 3: Other expense in the prior period is an impairment loss. ########
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