Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Landec Q2 Profit Declines, Meets Estimate - Quick Facts

RELATED NEWS
Trade LNDC now with 

Polymer products company Landec Corp. (LNDC: Quote), 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.

Click here to receive FREE breaking news email alerts for Landec Corp. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
The Chinese economy logged its weakest expansion since early 2009 in the third quarter as slowdown in investment, particularly in the property sector, continued to drag the recovery. Gross domestic product grew 7.3 percent in the third quarter from a year ago, slower than the 7.5 percent expansion seen a quarter ago, the National Bureau of Statistics reported Tuesday. Apple Inc. said Monday that its fourth quarter profit rose 13% from last year, driven by strong sales of its iPhones and Mac computers. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly sales. At the same time, the company gave an upbeat revenue forecast for the current quarter, which includes the all important holiday season. Stocks moved notably higher over the course of the trading day on Monday, extending the strong upward move seen last Friday. The gains on the day continued the recent recovery by the markets, with the Nasdaq and the S&P 500 closing higher for the third consecutive session.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.