US: Lancer posts Q2 and Q3 growth
Lancer Corp. has posted second- and third-quarter gains. The San Antonio-based maker of drink dispensing systems had delayed its quarterly filing until Monday amid a lawsuit filed against Coca-Cola Co.
In the second quarter Lancer reported net earnings of US$200,000, while in the third quarter the company had net earnings of US$600,000.
In August of this year Lancer became involved in a criminal investigation into allegations of fraud against Coca-Cola. The investigations sprang from an unfair dismissal case filed by former Coke employee Matthew Whitley. In the case Whitely accused Coke of improper accounting procedures concerning a fountain dispenser, iFountain, it was involved in with Lancer.
The dispute was settled in October.
Sectors: Soft drinks
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