Operating Quotations | Page 2
Operating Quotes from:
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Believe Quotes
Tom's has a strong heritage and solid reputation in the snack food business, and we believe that this opportunity will make our company stronger. The transaction developed quickly, and we are still developing our plans. In the near term we intend to continue business as usual while we develop a plan to effectively meet the needs of our customers and consumers. We are confident that the combination of increased sales and operating synergies will create value for Lance, Inc. stockholders.
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Consistent Quotes
Seasonal weakness in the U.S. and a pause in spending in Japan lead to expectations for a sequential decline in sales for the first time since the second quarter of 2002, which is consistent with our outlook for a challenging first-half 2006 operating environment for communications equipment companies.
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Base Quotes
Selling, general, and administrative expenses as a percent of net sales and operating revenues increased slightly to 11.4% in this year's third quarter from 11.3% in last year's quarter. As expected, the moderate rate of increase in unit comps was not sufficient to provide SG&A leverage. Having a larger percentage of our store base comprised of stores not yet at basic maturity and last year's lower-than-normal corporate bonuses were also contributing factors. At the end of this year's third quarter, 49% of our stores were less than four years old, compared with 40% at the end of last year's third quarter.