MARION — Seneca Foods Corp. recently announced financial results for the fourth quarter and year ended March 31.

For the year, net sales increased 3.2 percent to $1,199.6 million.

Gross margin percentage from continuing operations decreased from 7 percent to 3.3 percent as compared to the prior 12 months. Cost increases and a $40.5 million LIFO charge contributed to the lower gross margin percentage.

The Company has applied discontinued operations treatment as related to its Modesto operations. Net earnings from discontinued operations increased by $60.8 million as compared to the prior year. Included in the year ended March 31, 2019 discontinued operations earnings was a $24.2 million pre-tax non-cash gain as result of the Modesto LIFO layer liquidation and a pre-tax cash gain of $56.4 million on the sale of the Modesto plant and equipment.

For the fourth quarter, net sales increased 9.8 percent to $262.6 million.

Gross margin percentage from continuing operations decreased from 7.1 percent to 5.3 percent as compared to the prior fourth quarter. Cost increases contributed to the lower gross margin percentage.

Net earnings from discontinued operations increased by $14.6 million as compared to the prior fourth quarter.

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