CHARLOTTE, N.C. (AP) _ Snyder's-Lance Inc. (LNCE) on Tuesday reported a third-quarter loss of $56.3 million, after reporting a profit in the same period a year earlier.
The Charlotte, North Carolina-based company said it had a loss of 58 cents per share. Earnings, adjusted for one-time gains and costs, came to 33 cents per share.
The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The snack maker posted revenue of $564.2 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $557 million.
Snyder's expects full-year earnings in the range of $1.12 to $1.17 per share, with revenue in the range of $2.21 billion to $2.26 billion.
Snyder's shares have decreased almost 4 percent since the beginning of the year. The stock has increased nearly 7 percent in the last 12 months.