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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

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