Release of results for the 2nd quarter of 2008 - Lassonde Industries Inc. maintains its growth



    ROUGEMONT, QC, Aug. 8 /CNW Telbec/ - Lassonde Industries Inc.
(LAS.A - TSX) announced today that it has maintained its growth, reporting
increases in net sales, operating income and net earnings for the second
quarter of 2008.
    "Thanks to the strategy adopted by Lassonde Industries Inc., we have met
our second quarter business objectives even under more challenging economic
conditions," stated Mr Pierre-Paul Lassonde, Chairman of the Board and CEO.

    Financial highlights:
    ---------------------

    
    -------------------------------------------------------------------------
    Financial highlights                          Second quarters ended
    (in thousands of dollars except
     earnings per share)
    -------------------------------------------------------------------------
                                            June 28, 2008     June 30, 2007
                                               (unaudited)       (unaudited)
    -------------------------------------------------------------------------
    Net sales                                    $128,690          $102,889
    -------------------------------------------------------------------------
    Operating income                             $ 11,188          $  8,115
    -------------------------------------------------------------------------
    Earnings before income taxes                 $ 11,326          $  7,654
    -------------------------------------------------------------------------
    Net earnings                                 $  9,291          $  5,298
    -------------------------------------------------------------------------
    Earnings per share                           $   1.39          $   0.79
    -------------------------------------------------------------------------

    Note: These are financial highlights only. Management's Discussion and
    Analysis, the unaudited consolidated financial statements and notes
    thereto of Lassonde Industries Inc. for the quarter ended June 28, 2008
    will be available on the SEDAR website at www.sedar.com and on the
    website of Lassonde Industries Inc.

    Financial results:
    ------------------

    In the second quarter of 2008, net sales totalled $128.7 million, up 25.1%
over the net sales posted in the second quarter of 2007. The increase owes to
a combination of two factors, namely the higher business volume experienced in
most of the Company's sales territories and an approximate $14 million
contribution from the two acquisitions made by Lassonde Industries Inc. at the
end of 2007. For the first six months of 2008, net sales totalled $247.2
million, a 30.1% increase over the net sales recorded in the first six months
of 2007.
    Cost of goods sold and operating expenses for the second quarter were
$113.7 million, for a quarter-over-quarter increase of 23.3%. After deducting
amortization expense of $3.8 million, operating income for the second quarter
was $11.2 million, a $3.1 million increase over the $8.1 million in operating
income posted at the end of the same quarter in 2007.
    Second quarter net earnings amounted to $9.3 million ($1.39 per share), up
$4.0 million over the $5.3 million in net earnings ($0.79 per share) recorded
in the second quarter of 2007. For the entire six-month period, net earnings
reached $15.1 million ($2.26 per share), a $7.1 million increase over the $8.0
million amount ($1.20 per share) recorded at the end of the first six months
of 2007.
    It should be noted that the second quarter net earnings were increased due
to the reversal of a $2.3 million provision. This reversal results from the
settlement of matters arising from notices of assessments issued after the
Quebec government's enactment of Bill 15 in June 2006, amending the Taxation
Act with retroactive effect. The settlement, which was announced on June 16,
2008, had the effect of reducing the income tax expense by $1.3 million and
financial expenses by $1.0 million. Excluding this reversal, net earnings for
the second quarter would be $7.0 million ($1.05 per share), up $1.7 million
over the $5.3 million in net earnings posted for the same period a year
earlier. For the first six months of 2008, net earnings would be $12.8 million
($1.92 per share), up $4.8 million over the $8.0 million posted for the first
six months of 2007.
    "A more difficult economic environment, increased volatility in raw
material prices and higher fuel prices, which are reflected in transportation
costs, are major challenges for the entire agri-food industry. Lassonde
Industries Inc. is working diligently to maintain the Company's sales and
profitability growth despite higher costs in certain sectors, particularly in
transportation" concluded Mr. Lassonde.

    About Lassonde Industries Inc.
    -----------------------------

    Lassonde Industries Inc. is a Canadian leader in the development,
manufacture, and marketing of a wide range of fruit and vegetable juices and
drinks, and fondue bouillons and sauces. The Company also produces and markets
certain specialty food products such as canned corn-on-the-cob, meat
marinades, barbecue sauces, brunch beans, pasta sauces, tapenades and
bruschetta toppings. Finally, the Company packages and markets imported wines
from various countries. Nearly 1,200 employees contribute to the Company's
growth and to offering quality products to customers.

    This press release contains forward-looking statements that are based on
certain assumptions. These forward-looking statements are subject to a number
of risks and uncertainties that could cause actual results or events to differ
materially from current expectations. Additional factors are discussed in
materials filed from time to time with the securities regulatory authorities
in Canada. Industries Lassonde Inc. disclaims any intention or obligation to
update or revise any forward-looking statements.
    
    %SEDAR: 00002099EF




For further information:

For further information: Guy Blanchette, Vice-President, Finance,
Lassonde  Industries Inc., (450) 469-4926, extension 782


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