Profits fell 10% from levels during the same period in 2007. This loss was due to rising raw materials cost and charges due to discontinued operations.
In first month of 2008 the market showed the fears investors were having of a recession and a slowing economy. Although President Bush announced a stimulus package to help the consumer, this did little to ease fears. The DJI and NASDAQ both fell more than 10% in January.
Lancaster Colony Corp. announced that their net income decreased sharply to $575 thousand in Q4 of 2007 from $22.90 million in the previous year. The profits declined due to a rise in costs and a loss of $15.86 million related to the sale of its automotive operations.