##### Table of Contents



UNITED STATES SECURITIES AND EXCHANGE COMMISSION
 Washington, D. C. 20549
 Form 10-Q
 (Mark
One)
 þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended December 31, 2005
 or
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from            to
 Commission file number 0-4065-1
 Lancaster Colony Corporation
 (Exact name of registrant as specified in its charter)
 Ohio
    
    13-1955943(State or other jurisdiction of
    
    (I.R.S. Employerincorporation or organization)
    
    Identification No.)37 West Broad Street
    
    43215Columbus, Ohio
    
    (Zip Code)(Address of principal executive offices)
 614-224-7141  (Registrants telephone number, including area code)
 þ o
  þ o o
 o þ




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##### 



LANCASTER COLONY CORPORATION AND SUBSIDIARIES
 TABLE OF CONTENTS
  
 PART I  FINANCIAL INFORMATIONItem 1.
    
    Consolidated Financial Statements:Consolidated Balance
Sheets  December 31, 2005 and June 30, 2005Consolidated
Statements of Income  Three and Six Months Ended December 31, 2005 and 2004Consolidated
Statements of Cash Flows  Six Months Ended December 31, 2005 and 2004Notes to Consolidated Financial StatementsItem 2.
    
    Managements Discussion and Analysis of Financial Condition and Results of OperationsItem 4.
    
    Controls and ProceduresPART II  OTHER INFORMATIONItem 2.
    
    Unregistered Sales of Equity Securities and Use of ProceedsItem 4.
    
    Submission of Matters to a Vote of Security HoldersItem 6.
    
    ExhibitsSIGNATURESINDEX TO EXHIBITSEX-31.1EX-31.2EX-32
  2




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##### Table of Contents



PART I  FINANCIAL INFORMATION
 
 Item 1. Consolidated Financial Statements
 LANCASTER COLONY CORPORATION AND SUBSIDIARIES
 
 CONSOLIDATED BALANCE SHEETS
 December 31
    
    
    June 30(Amounts in thousands, except share data)
    
    2005
    
    
    2005(Unaudited)ASSETSCurrent Assets:Cash and equivalents
    
    $
    13,089
    
    
    $
    113,265Short-term investments
    
    
    64,965
    
    
    
    71,315Receivables (less allowance for doubtful accounts,
December  $1,857 and June  $1,830)
    
    
    121,606
    
    
    
    100,351Inventories:Raw materials and supplies
    
    
    49,160
    
    
    
    47,097Finished goods and work in process
    
    
    114,369
    
    
    
    117,268Total inventories
    
    
    163,529
    
    
    
    164,365Deferred income taxes and other current assets
    
    
    29,599
    
    
    
    25,109Total current assets
    
    
    392,788
    
    
    
    474,405Property, Plant and Equipment:Land, buildings and improvements
    
    
    130,837
    
    
    
    121,290Machinery and equipment
    
    
    386,922
    
    
    
    365,005Total cost
    
    
    517,759
    
    
    
    486,295Less accumulated depreciation
    
    
    341,685
    
    
    
    332,148Property, plant and equipment  net
    
    
    176,074
    
    
    
    154,147Other Assets:Goodwill
    
    
    79,219
    
    
    
    79,219Other intangible assets  net
    
    
    4,677
    
    
    
    4,937Other noncurrent assets
    
    
    16,855
    
    
    
    18,570Total
    
    $
    669,613
    
    
    $
    731,278LIABILITIES AND SHAREHOLDERS EQUITYCurrent Liabilities:Accounts payable
    
    $
    49,588
    
    
    $
    51,014Accrued liabilities
    
    
    59,197
    
    
    
    52,832Total current liabilities
    
    
    108,785
    
    
    
    103,846Other Noncurrent Liabilities
    
    
    30,497
    
    
    
    30,492Deferred Income Taxes
    
    
    7,413
    
    
    
    9,214Shareholders Equity:Preferred
stock  authorized 3,050,000 shares; outstanding  noneCommon stock
 authorized 75,000,000 shares; outstanding 
December 31, 2005  33,531,009 shares; June 30, 2005  34,235,905 shares
    
    
    76,483
    
    
    
    73,801Retained earnings
    
    
    907,748
    
    
    
    944,194Accumulated other comprehensive loss
    
    
    (10,907
    )
    
    
    (10,905
    )Total
    
    
    973,324
    
    
    
    1,007,090Common stock in treasury, at cost
    
    
    (450,406
    )
    
    
    (419,364
    )Total shareholders equity
    
    
    522,918
    
    
    
    587,726Total
    
    $
    669,613
    
    
    $
    731,278
  3




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##### Table of Contents



LANCASTER COLONY CORPORATION AND SUBSIDIARIES
 
 CONSOLIDATED STATEMENTS OF INCOME
 UNAUDITED
 Three Months Ended
    
    
    Six Months EndedDecember 31
    
    
    December 31(Amounts in thousands, except per share data)
    
    2005
    
    
    2004
    
    
    2005
    
    
    2004Net Sales
    
    $
    312,577
    
    
    $
    297,349
    
    
    $
    598,492
    
    
    $
    578,833Cost of Sales
    
    
    252,623
    
    
    
    237,990
    
    
    
    485,297
    
    
    
    465,457Gross Margin
    
    
    59,954
    
    
    
    59,359
    
    
    
    113,195
    
    
    
    113,376Selling, General and
Administrative Expenses
    
    
    25,842
    
    
    
    25,531
    
    
    
    51,876
    
    
    
    50,307Restructuring and Impairment Charge
    
    
    19
    
    
    
    45
    
    
    
    43
    
    
    
    487Operating Income
    
    
    34,093
    
    
    
    33,783
    
    
    
    61,276
    
    
    
    62,582Other Income (Expense):Other Income  Continued Dumping and
Subsidy Offset Act
    
    
    11,376
    
    
    
    26,226
    
    
    
    11,376
    
    
    
    26,226Interest Income and Other  Net
    
    
    1,263
    
    
    
    833
    
    
    
    2,649
    
    
    
    1,460Income Before Income Taxes
    
    
    46,732
    
    
    
    60,842
    
    
    
    75,301
    
    
    
    90,268Taxes Based on Income
    
    
    16,502
    
    
    
    22,723
    
    
    
    27,025
    
    
    
    33,771Net Income
    
    $
    30,230
    
    
    $
    38,119
    
    
    $
    48,276
    
    
    $
    56,497Net Income Per Common Share:Basic
    
    $
    .89
    
    
    $
    1.09
    
    
    $
    1.42
    
    
    $
    1.60Diluted
    
    $
    .89
    
    
    $
    1.08
    
    
    $
    1.42
    
    
    $
    1.60Cash Dividends Per Common Share
    
    $
    2.26
    
    
    $
    .25
    
    
    $
    2.51
    
    
    $
    .48Weighted Average Common
Shares Outstanding:Basic
    
    
    33,838
    
    
    
    35,084
    
    
    
    34,029
    
    
    
    35,220Diluted
    
    
    33,861
    
    
    
    35,144
    
    
    
    34,074
    
    
    
    35,276
  4




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LANCASTER COLONY CORPORATION AND SUBSIDIARIES
 
 CONSOLIDATED STATEMENTS OF CASH FLOWS
 (UNAUDITED)
 Six Months EndedDecember 31(Amounts in thousands)
    
    2005
    
    
    2004Cash Flows From Operating Activities:Net income
    
    $
    48,276
    
    
    $
    56,497Adjustments to reconcile net income to net
cash provided by operating activities:Depreciation and amortization
    
    
    16,540
    
    
    
    16,865Deferred income taxes and other noncash items
    
    
    (3,238
    )
    
    
    (601
    )Restructuring and impairment charge
    
    
    (26
    )
    
    
    (8
    )Gain on sale of property
    
    
    (813
    )
    
    
    (79
    )Loss on sale of business
    
    
    202
    
    
    
    Payments to pension plans
    
    
    (106
    )
    
    
    (135
    )Changes in operating assets and liabilities:Receivables
    
    
    (21,681
    )
    
    
    (14,378
    )Inventories
    
    
    526
    
    
    
    12,215Other current assets
    
    
    (2,858
    )
    
    
    (3,054
    )Accounts payable and accrued liabilities
    
    
    2,702
    
    
    
    7,163Net cash provided by operating activities
    
    
    39,524
    
    
    
    74,485Cash Flows From Investing Activities:Payments on property additions
    
    
    (35,075
    )
    
    
    (9,431
    )Proceeds from sale of property
    
    
    1,155
    
    
    
    504Cash paid for acquisitions
    
    
    
    
    
    
    (492
    )Proceeds from sale of business
    
    
    476
    
    
    
    Purchases of short-term investments
    
    
    (24,700
    )
    
    
    (42,205
    )Proceeds from short-term investment sales, calls, and maturities
    
    
    31,050
    
    
    
    24,840Other net
    
    
    (829
    )
    
    
    (4,816
    )Net cash used in investing activities
    
    
    (27,923
    )
    
    
    (31,600
    )Cash Flows From Financing Activities:Purchase of treasury stock
    
    
    (31,042
    )
    
    
    (23,304
    )Payment of dividends
    
    
    (84,722
    )
    
    
    (16,878
    )Proceeds from the exercise of stock options,
including related tax benefits
    
    
    2,333
    
    
    
    2,273Increase in cash overdraft balance
    
    
    1,656
    
    
    
    3,832Net cash used in financing activities
    
    
    (111,775
    )
    
    
    (34,077
    )Effect of exchange rate changes on cash
    
    
    (2
    )
    
    
    (6
    )Net change in cash and equivalents
    
    
    (100,176
    )
    
    
    8,802Cash and equivalents at beginning of year
    
    
    113,265
    
    
    
    113,233Cash and equivalents at end of period
    
    $
    13,089
    
    
    $
    122,035Supplemental Disclosure Of Operating Cash Flows:Cash paid during the period for income taxes
    
    $
    25,415
    
    
    $
    22,105
  5




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LANCASTER COLONY CORPORATION AND SUBSIDIARIES
 
 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
 (Tabular dollars in thousands, except per share amounts)
 Note 1  Summary of Significant Accounting Policies
 Basis of Presentation
  Reclassifications
   Liquidation of LIFO Inventory Layers
  Property, Plant and Equipment
  Stock-Based Employee Compensation Plans
   6




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##### Table of Contents



LANCASTER COLONY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(Tabular dollars in thousands, except per share amounts)
  Three Months Ended
    
    
    Six Months EndedDecember 31
    
    
    December 312004
    
    
    2004Net income as reported
    
    $
    38,119
    
    
    $
    56,497Less: Total stock-based employee
compensation expense determined
under fair-value-based method for
all awards, net of related tax effects
    
    
    (32
    )
    
    
    (64
    )Pro forma net income
    
    $
    38,087
    
    
    $
    56,433Net income
per common share  basic as reported and pro forma
    
    $
    1.09
    
    
    $
    1.60Net income
per common share  diluted as reported and pro forma
    
    $
    1.08
    
    
    $
    1.60
 Significant Accounting Policies
  Note 2  Short-Term Investments
   December 31
    
    
    June 302005
    
    
    2005Due within one year
    
    $
    380
    
    
    $
    3,300Due between one and five years
    
    
    600
    
    
    
    1,580Due after ten years
    
    
    63,985
    
    
    
    66,435Total short-term investments
    
    $
    64,965
    
    
    $
    71,315
  Note 3  Impact of Recently Issued Accounting Standards
  7




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LANCASTER COLONY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(Tabular dollars in thousands, except per share amounts)
  Note 4  Goodwill and Other Intangible Assets
   December 31
    
    
    June 302005
    
    
    2005Specialty FoodsTrademarks (40-year life)Gross carrying value
    
    $
    370
    
    
    $
    370Accumulated amortization
    
    
    (135
    )
    
    
    (131
    )Net Carrying Value
    
    $
    235
    
    
    $
    239Customer Lists (12-year life)Gross carrying value
    
    $
    4,100
    
    
    $
    4,100Accumulated amortization
    
    
    (683
    )
    
    
    (513
    )Net Carrying Value
    
    $
    3,417
    
    
    $
    3,587Non-compete Agreements (8-year life)Gross carrying value
    
    $
    1,200
    
    
    $
    1,200Accumulated amortization
    
    
    (300
    )
    
    
    (225
    )Net Carrying Value
    
    $
    900
    
    
    $
    975Glassware and Candles  Customer Lists (12-year life)Gross carrying value
    
    $
    250
    
    
    $
    250Accumulated amortization
    
    
    (125
    )
    
    
    (114
    )Net Carrying Value
    
    $
    125
    
    
    $
    136Total Net Carrying Value
    
    $
    4,677
    
    
    $
    4,937
  Note 5  Pension Benefits
  8




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LANCASTER COLONY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(Tabular dollars in thousands, except per share amounts)
  Three Months
    
    
    Six MonthsEnded
    
    
    EndedDecember 31
    
    
    December 312005
    
    
    2004
    
    
    2005
    
    
    2004Components of net periodic benefit costService cost
    
    $
    188
    
    
    $
    139
    
    
    $
    376
    
    
    $
    277Interest cost
    
    
    635
    
    
    
    632
    
    
    
    1,270
    
    
    
    1,265Expected return on plan assets
    
    
    (723
    )
    
    
    (694
    )
    
    
    (1,446
    )
    
    
    (1,388
    )Amortization of unrecognized net loss
    
    
    177
    
    
    
    103
    
    
    
    354
    
    
    
    205Amortization of prior service cost
    
    
    58
    
    
    
    58
    
    
    
    117
    
    
    
    117Amortization of unrecognized net
obligation existing at transition
    
    
    9
    
    
    
    9
    
    
    
    18
    
    
    
    18Net periodic benefit cost
    
    $
    344
    
    
    $
    247
    
    
    $
    689
    
    
    $
    494
  Note 6  Postretirement Benefits
   Three Months
    
    
    Six MonthsEnded
    
    
    EndedDecember 31
    
    
    December 312005
    
    
    2004
    
    
    2005
    
    
    2004Components of net periodic benefit costService cost
    
    $
    43
    
    
    $
    34
    
    
    $
    87
    
    
    $
    68Interest cost
    
    
    86
    
    
    
    81
    
    
    
    173
    
    
    
    162Amortization of unrecognized net loss
    
    
    36
    
    
    
    18
    
    
    
    72
    
    
    
    37Amortization of prior service asset
    
    
    (1
    )
    
    
    (2
    )
    
    
    (3
    )
    
    
    (4
    )Net periodic benefit cost
    
    $
    164
    
    
    $
    131
    
    
    $
    329
    
    
    $
    263
  Note 7  Stock Options
   9




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##### Table of Contents



LANCASTER COLONY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(Tabular dollars in thousands, except per share amounts)
       WeightedWeighted
    
    
    AverageNumber
    
    
    Average
    
    
    Remaining
    
    
    Aggregateof
    
    
    Exercise
    
    
    Contractual
    
    
    IntrinsicShares
    
    
    Price
    
    
    Life
    
    
    ValueOutstanding at beginning of period
    
    
    590,104
    
    
    $
    38.77Exercised
    
    
    (58,972
    )
    
    
    36.85Granted
    
    
    
    
    
    
    Forfeited
    
    
    (3,500
    )
    
    
    38.52Outstanding at end of period
    
    
    527,632
    
    
    $
    38.99
    
    
    
    3.18
    
    
    $
    387Exercisable at end of period
    
    
    468,783
    
    
    $
    38.81
    
    
    
    3.10
    
    
    $
    354
  WeightedNumber
    
    
    Averageof
    
    
    Grant DateShares
    
    
    Fair ValueUnvested at beginning of period
    
    
    58,849
    
    
    $
    7.52Granted
    
    
    
    
    
    
    Vested
    
    
    
    
    
    
    Forfeited
    
    
    
    
    
    
    Unvested at end of period
    
    
    58,849
    
    
    $
    7.52
  10




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LANCASTER COLONY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(Tabular dollars in thousands, except per share amounts)
 Note 8  Restructuring and Impairment Charge
  Note 9  Business Segment Information
  Three Months Ended
    
    
    Six Months EndedDecember 31
    
    
    December 312005
    
    
    2004
    
    
    2005
    
    
    2004Net SalesSpecialty Foods
    
    $
    189,505
    
    
    $
    177,075
    
    
    $
    359,039
    
    
    $
    337,684Glassware and Candles
    
    
    65,269
    
    
    
    67,842
    
    
    
    125,544
    
    
    
    131,574Automotive
    
    
    57,803
    
    
    
    52,432
    
    
    
    113,909
    
    
    
    109,575Total
    
    $
    312,577
    
    
    $
    297,349
    
    
    $
    598,492
    
    
    $
    578,833Operating IncomeSpecialty Foods
    
    $
    31,574
    
    
    $
    31,036
    
    
    $
    57,418
    
    
    $
    58,415Glassware and Candles
    
    
    3,417
    
    
    
    3,684
    
    
    
    5,620
    
    
    
    4,763Automotive
    
    
    699
    
    
    
    1,098
    
    
    
    1,833
    
    
    
    3,354Corporate Expenses
    
    
    (1,597
    )
    
    
    (2,035
    )
    
    
    (3,595
    )
    
    
    (3,950
    )Total
    
    $
    34,093
    
    
    $
    33,783
    
    
    $
    61,276
    
    
    $
    62,582
 Note 10   Commitments and Contingencies
   11




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LANCASTER COLONY CORPORATION AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS  (Continued)
(Tabular dollars in thousands, except per share amounts)
  Note 11  Comprehensive Income
  12




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Item 2. Managements Discussion and Analysis of Financial Condition and Results of Operations
 LANCASTER COLONY CORPORATION AND SUBSIDIARIES
MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
AND RESULTS OF OPERATIONS
(Tabular dollars in thousands)
 OVERVIEW
       Forward-Looking Statements
  13




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Summary of Results
     RESULTS OF CONSOLIDATED OPERATIONS
 Net Sales and Gross Margin
 Three Months Ended
    
    
    
    
    
    
    
    
    
    
    Six Months EndedDecember 31
    
    
    
    
    
    
    
    
    
    
    December 312005
    
    
    2004
    
    
    Change
    
    
    2005
    
    
    2004
    
    
    ChangeNet SalesSpecialty Foods
    
    $
    189,505
    
    
    $
    177,075
    
    
    $
    12,430
    
    
    
    7
    %
    
    $
    359,039
    
    
    $
    337,684
    
    
    $
    21,355
    
    
    
    6
    %Glassware and Candles
    
    
    65,269
    
    
    
    67,842
    
    
    
    (2,573
    )
    
    
    (4
    )%
    
    
    125,544
    
    
    
    131,574
    
    
    
    (6,030
    )
    
    
    (5
    )%Automotive
    
    
    57,803
    
    
    
    52,432
    
    
    
    5,371
    
    
    
    10
    %
    
    
    113,909
    
    
    
    109,575
    
    
    
    4,334
    
    
    
    4
    %Total
    
    $
    312,577
    
    
    $
    297,349
    
    
    $
    15,228
    
    
    
    5
    %
    
    $
    598,492
    
    
    $
    578,833
    
    
    $
    19,659
    
    
    
    3
    %Gross Margin
    
    $
    59,954
    
    
    $
    59,359
    
    
    $
    595
    
    
    
    1
    %
    
    $
    113,195
    
    
    $
    113,376
    
    
    $
    (181
    )
    
    
    0
    %Gross Margin
as a Percent of Sales
    
    
    19.2
    %
    
    
    20.0
    %
    
    
    
    
    
    
    
    
    
    
    18.9
    %
    
    
    19.6
    %
   14




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Selling, General and Administrative Expenses
 Three Months Ended
    
    
    
    
    
    
    
    
    
    
    Six Months EndedDecember 31
    
    
    
    
    
    
    
    
    
    
    December 312005
    
    
    2004
    
    
    Change
    
    
    2005
    
    
    2004
    
    
    ChangeSelling, General and
Administrative Expenses
    
    $
    25,842
    
    
    $
    25,531
    
    
    $
    311
    
    
    
    1
    %
    
    $
    51,876
    
    
    $
    50,307
    
    
    $
    1,569
    
    
    
    3
    %SG&A Expenses as a
Percent of Sales
    
    
    8.3
    %
    
    
    8.6
    %
    
    
    
    
    
    
    
    
    
    
    8.7
    %
    
    
    8.7
    %
  15




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Restructuring and Impairment Charge
  Operating Income
  Three Months Ended
    
    
    
    
    
    
    
    
    
    
    Six Months EndedDecember 31
    
    
    
    
    
    
    
    
    
    
    December 312005
    
    
    2004
    
    
    Change
    
    
    2005
    
    
    2004
    
    
    ChangeOperating IncomeSpecialty Foods
    
    $
    31,574
    
    
    $
    31,036
    
    
    $
    538
    
    
    
    2
    %
    
    $
    57,418
    
    
    $
    58,415
    
    
    $
    (997
    )
    
    
    (2
    )%Glassware and Candles
    
    
    3,417
    
    
    
    3,684
    
    
    
    (267
    )
    
    
    (7
    )%
    
    
    5,620
    
    
    
    4,763
    
    
    
    857
    
    
    
    18
    %Automotive
    
    
    699
    
    
    
    1,098
    
    
    
    (399
    )
    
    
    (36
    )%
    
    
    1,833
    
    
    
    3,354
    
    
    
    (1,521
    )
    
    
    (45
    )%Corporate Expenses
    
    
    (1,597
    )
    
    
    (2,035
    )
    
    
    438
    
    
    
    (22
    )%
    
    
    (3,595
    )
    
    
    (3,950
    )
    
    
    355
    
    
    
    (9
    )%Total
    
    $
    34,093
    
    
    $
    33,783
    
    
    $
    310
    
    
    
    1
    %
    
    $
    61,276
    
    
    $
    62,582
    
    
    $
    (1,306
    )
    
    
    (2
    )%Operating Income
as a Percent of SalesSpecialty Foods
    
    
    16.7
    %
    
    
    17.5
    %
    
    
    
    
    
    
    
    
    
    
    16.0
    %
    
    
    17.3
    %Glassware and Candles
    
    
    5.2
    %
    
    
    5.4
    %
    
    
    
    
    
    
    
    
    
    
    4.5
    %
    
    
    3.6
    %Automotive
    
    
    1.2
    %
    
    
    2.1
    %
    
    
    
    
    
    
    
    
    
    
    1.6
    %
    
    
    3.1
    %Consolidated
    
    
    10.9
    %
    
    
    11.4
    %
    
    
    
    
    
    
    
    
    
    
    10.2
    %
    
    
    10.8
    %
 Other
Income  Continued Dumping and Subsidy Offset Act
  Interest
Income and Other  Net
  Income Before Income Taxes
  16




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##### Table of Contents



Net Income
  FINANCIAL CONDITION
      CONTRACTUAL OBLIGATIONS
  17




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##### Table of Contents



CRITICAL ACCOUNTING POLICIES
  RECENTLY ISSUED ACCOUNTING STANDARDS
   RECENTLY ADOPTED ACCOUNTING STANDARDS
       
 Item 4.
    
    Controls and Procedures
 Evaluation of Disclosure Controls and Procedures.
 18




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##### Table of Contents



Changes in Internal Control Over Financial Reporting.
 
 PART
II OTHER INFORMATION
 
 Item 2.
    
    Unregistered Sales of Equity Securities and Use of Proceeds
  Total Number
        
    Maximum NumberTotal
    
    Average
    
    of Shares
        
    of Shares That MayNumber
    
    Price
    
    Purchased as
        
    Yet be Purchasedof Shares
    
    Paid Per
    
    Part of Publicly
        
    Under the Plans orPeriod
    
    
    Purchased
    
    

    Share

    
    

Announced Plans
    
    
    
    ProgramsOctober 1-31, 2005
    
    
    155,226
    
    
    $
    41.471
    
    
    
    155,226
    
    
    
    2,683,082November 1-30, 2005
    
    
    210,309
    
    
    $
    39.110
    
    
    
    210,309
    
    
    
    2,472,773December 1-31, 2005
    
    
    210,327
    
    
    $
    38.288
    
    
    
    210,327
    
    
    
    2,262,446
  
 Item 4.
    
    Submission of Matters to a Vote of Security Holders
  Shares
    
    
    
    
    
    SharesVoted
    
    
    Shares
    
    NotFor
    
    
    
    Withheld
    
    
    
    VotedRobert L. Fox
    
    
    32,000,164
    
    
    
    131,447
    
    
    
    2,041,728John B. Gerlach, Jr.
    
    
    31,907,726
    
    
    
    223,885
    
    
    
    2,041,728Edward H. Jennings
    
    
    31,907,933
    
    
    
    223,678
    
    
    
    2,041,728
 
 Item 6.
    
    Exhibits.See Index to Exhibits following Signatures.
 19




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##### Table of Contents



SIGNATURES
  Lancaster Colony Corporation(Registrant)Date:
February 9, 2006
    
    By:
    
    /s/
    
    John B. Gerlach, Jr.John B. Gerlach, Jr.Chairman, Chief Executive Officer,President and DirectorDate: February 9, 2006
    
    By:
    
    /s/
    
    John L. BoylanJohn L. BoylanTreasurer, Vice President,Assistant Secretary,Chief Financial Officer(Principal Financialand Accounting Officer)and Director
 20




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##### Table of Contents



LANCASTER COLONY CORPORATION AND SUBSIDIARIES
FORM 10-Q
DECEMBER 31, 2005
 
 INDEX TO EXHIBITS
 ExhibitNumber
    
    Description
    
    Located at31.1
    
    Certification of CEO under Section 302 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith31.2
    
    Certification of CFO under Section 302 of the Sarbanes-Oxley Act of 2002
    
    Filed herewith32
    
    Certification of CEO and CFO under Section 906 of the Sarbanes-Oxley
Act of 2002
    
    Filed herewith
 21