Unified Posts 3Q Earnings Decline After Year-Ago Gains

Unified Grocers said a non-recurring gain in the prior year resulted in an earnings decline for the third quarter and 39 weeks ended June 30. Net earnings declined 16% to $4.3 million in the 13-week quarter and 24% to $11.4 million for the year to date, reflecting the year-ago impact of approximately $8 million in pre-tax earnings from a favorable legal settlement and insurance reserve

LOS ANGELES — Unified Grocers here said a non-recurring gain in the prior year resulted in an earnings decline for the third quarter and 39 weeks ended June 30.

Net earnings declined 16% to $4.3 million in the 13-week quarter and 24% to $11.4 million for the year to date, reflecting the year-ago impact of approximately $8 million in pre-tax earnings from a favorable legal settlement and insurance reserve adjustments.

Sales were up 8.8% to $790.6 million for the quarter

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