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
Women's specialty-clothing retailer J. Jill Inc. said it has launched an initial public offering of 11.67 million shares of its common stock. All shares are being sold by an existing stockholder and J. Jill will not receive any proceeds from the offering. Long queues at peak dining hours at Wendy's may be a history, as the company is planning to introduce automated self ordering kiosks at its more than 1000 retail locations by this year end. The automation will also help in cutting labor costs. Canadian music retail chain Sunrise Records said it plans to take over 70 retail spaces in Canada being vacated by HMV Canada, the industry's largest retailer. The new brick and mortar locations are in malls across Canada. However, Sunrise's expansion comes as people are increasingly shifting to streaming options for music and videos rather than buying tangible, touchable albums.
comments powered by Disqus
Follow RTT