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Landec Corp. (LNDC) Broke Out To A 3-Month High After Strong Q2 Report

Landec Corp. (LNDC) reported second quarter net income of $0.34 per share after the close Wednesday, up from $0.13 per share a year ago. The consensus estimate was for EPS of $0.16. The company now expects full year 2013 net income to grow 60% to 70% and revenues to grow 33% to 38%. Previously, the company expected net income to grow by 25% to 35% and revenues by approximately 30%.

Landec gapped open higher Thursday and rose further around 10:15AM. The stock ended the session with a gain of 1.54 at $11.36 on the highest volume of the year. Landec finished just below the highs of the year, trading at a 3-month high.

by RTTNews Staff Writer

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