logo
Share SHARE
FONT-SIZE Plus   Neg

Landec Q2 Profit Declines, Meets Estimate - Quick Facts

Polymer products company Landec Corp. (LNDC), on Thursday reported second-quarter net income available to common stockholders of $3.45 million, or $0.13 per share, compared to $8.91 million, or $0.34 per share in the comparable quarter last year.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.13 per share for the quarter. Analysts estimate typically excludes one-time items.

Meanwhile, total revenue in the quarter rose 5 percent to $120.03 million from $114.65 million in the prior year quarter, while four analysts expected the company to generate revenues of $124.23 million for the quarter.

Looking ahead to fiscal 2014, the company said that as stated in its press release on November 22, 2013, it continues to expect revenues to meet or exceed the original guidance of 6% growth for fiscal 2014 and expects net income to be flat to up 5% compared to fiscal 2013, after excluding the $3.9 million earn out adjustment in fiscal 2013, barring any additional significant negative weather-related events beyond normal historical levels during the remainder of fiscal 2014.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Can a washing machine explode just like a bomb? A lawsuit filed in the federal court in New Jersey alleged that there was loud noise and damage to garage wall as the washing machine went off with a violent boom. Samsung is facing federal class action lawsuit from customers. There were similar reports... German lender Commerzbank AG said Thursday that it will cut almost 10,000 jobs, stop paying dividends for the time being and merge two big units as part of a restructuring to become profitable on a sustainable basis by 2020. The bank, Germany's second largest, said that to cover its restructuring costs in the region of 1.1 billion euros, it will cease dividend payments for the time being. Apple Inc. has repeatedly assured customers of its commitment to privacy and said that iMessage conversations are safe. However, Apple's iMessage logs the phone numbers typed by users for a text conversation and shares this information with law enforcement when compelled by court order, according to news site "The Intercept."
comments powered by Disqus
Follow RTT