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Land O'Lakes earnings down 29%, but sales up

Dairy cooperative Land O'Lakes said its second-quarter earnings fell 29 percent, due to softness in its flagship dairy foods business, though sales continued to grow.
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Dairy cooperative Land O'Lakes said its second-quarter earnings fell 29 percent, due to softness in its flagship dairy foods business, though sales continued to grow.

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Related

Land O'Lakes profits rebound in 3Q

Land O'Lakes Inc. posted net income of $18 million in the third-quarter, compared to a $30 million loss a year earlier, the Star Tribune reports. The Arden Hills-based co-op also reported a seven percent increase in sales.

Lawsuit: Land O'Lakes conspired to drive up dairy prices

The Arden Hills company is facing allegations that it conspired with other dairy producers to slaughter herds to reduce supply and drive up prices.

Land O'Lakes enters dairy dessert business, acquires Kozy Shack

The Arden Hills-based dairy food producer has reached a deal to buy the popular New York-based pudding maker. Land O'Lakes CEO Chris Policinski said, "Kozy Shack is a strong strategic fit with our value-added dairy foods product portfolio."

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The St. Paul-based maker of cleaning products is feeling the effects of its merger with the water treatment company Nalco Holding. Revenue was up 85 percent in the first quarter, but the cost of integrating the two companies sent earnings downward.

Land O'Lakes accounting clerk charged with mail fraud for embezzling $1.1M

Federal prosecutors accuse a Brooklyn Park woman of stealing more than $1 million from Land O'Lakes between 2008 and 2012. Federal prosecutors say Cynthia Jacobsen, 58, fraudulently authorized payments to her daughter and allegedly used the money for personal expenses. Jacobsen worked as an accounts-payable supervisor.