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Casey’s reports third-quarter earnings

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Casey’s General Stores Inc. yesterday reported earnings of 34 cents per share for the third quarter of its 2011 fiscal year, which ended Jan. 31, unchanged from the same quarter a year ago.

Year to date, earnings per share were $1.64 compared with $1.87 for the same period last year. Net earnings were $12.88 million, down from $17.24 million in the same quarter a year ago.

For the nine months ended Jan. 31, net earnings were $71.85 million down from $95.03 million in the same period a year ago.

The company said in a press release that earnings were affected by a competitive cigarette sales environment, rising commodity costs and increased operating expenses related to store openings, as well as increased expenses incurred while fighting a takeover bid by Alimentation Couche-Tard Inc., which were carried over to the quarter.

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