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Landec Q2 Profit Declines, Meets Estimate - Quick Facts

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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.

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by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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After turning lower over the course of the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a sharply higher open for the markets, with the Dow futures up by 136 points. U.K. retail sales declined more-than-expected in September, driven by a sharp contraction in clothing sales. Retail sales fell 0.3 percent in September from a month ago, when it rose 0.4 percent, the Office for National Statistics said Thursday. This was the first drop in four months. Economists had forecast a 0.1 percent drop for September. Food sales recovered in September. The private sector in the eurozone logged a marginal upturn in October helped by an improvement in Germany, while France moved deeper into contraction, flash data from Markit Economics revealed Thursday. The headline flash Markit composite output index rose to 52.2 in October from a 10-month low of 52 in September. The score was forecast to fall to 51.5.
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