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Last $14.28 USD
Change Today -0.14 / -0.97%
Volume 38.5K
LNDC On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 07/2/15 All times are local (Market data is delayed by at least 15 minutes).

landec corp (LNDC) Key Developments

Landec Corp. Presents at Piper Jaffray 35th Annual Consumer Conference, Jun-10-2015 02:55 PM

Landec Corp. Presents at Piper Jaffray 35th Annual Consumer Conference, Jun-10-2015 02:55 PM. Venue: New York Palace Hotel, New York, New York, United States. Speakers: Gary T. Steele, Director.

Landec Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 1, 2015; Provides Earnings Guidance for the Fourth Quarter of Fiscal Year 2015

Landec Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended March 1, 2015. For the quarter, the company reported product sales of $138,530,000 against $126,379,000 a year ago, driven primarily from the 90% growth in sales of Eat Smart superfood products at Apio Inc., food business. Operating income was $4,832,000 against $9,732,000 a year ago. Overall operating income was negatively impacted by expected lower sales of higher margin fermentation products at Lifecore Inc. decrease in operating income at Lifecore partially offset by a 44% increase in operating income at Apio. Net income before taxes was $6,127,000 against $10,101,000 a year ago. Net income available to common stockholders was $3,772,000 against $6,400,000 a year ago, primarily due to the expected $5.6 million decrease in operating income at Lifecore. Net income was further reduced by a $793,000, or $0.03 per share, due to a non-cash write off of the company’s equity ownership in Aesthetic Sciences as a result of Landec receiving updated information that led management to believe the investment was fully impaired. Diluted net income per share was $0.14 against $0.24 a year ago. Increases in cash included generating $13.4 million in cash flow from operations. For the nine months, the company reported product sales of $404,809,000 against $355,884,000 a year ago. The increase was primarily due to a 21%, or $54.6 million, increase in revenues from Apio’s value-added business and from a 3%, or $1.8 million, increase in revenues in Apio’s export business. These increases were partially offset by a 20%, or $7.6 million, expected decrease in Lifecore’s revenues compared to the same period last year. Operating income was $12,257,000 against $14,884,000 a year ago. Net income before taxes was $14,883,000 against $22,754,000 a year ago. Net income available to common stockholders was $9,348,000 against $14,603,000 a year ago. Diluted net income per share was $0.34 against $0.54 a year ago. The decrease was primarily due to: a $7.6 million decrease in operating income at Lifecore, a $4.6 million decrease in the change in the fair market value of the company’s Windset investment to a $3.5 million increase from a $8.1 million increase in the same period last year, and a $793,000 write off of the company’s investment in Aesthetic Sciences. These decreases in net income were partially offset by: a 46%, or $4.9 million, increase in operating income at Apio and a $2.6 million decrease in the income tax expense. Capital expenditures primarily for capacity expansion were $10.2 million. For the fourth quarter of fiscal 2015, the company expects revenue is to be in the range of $130.0 million to $135.0 million and diluted earnings per share to be $0.18 to $0.20.

Landec Corp. to Report Q3, 2015 Results on Mar 31, 2015

Landec Corp. announced that they will report Q3, 2015 results at 5:00 PM, Eastern Standard Time on Mar 31, 2015

Landec Corp., Q3 2015 Earnings Call, Apr 01, 2015

Landec Corp., Q3 2015 Earnings Call, Apr 01, 2015

Landec Corp. Presents at 27th Annual ROTH Conference, Mar-10-2015 01:30 PM

Landec Corp. Presents at 27th Annual ROTH Conference, Mar-10-2015 01:30 PM. Venue: The Ritz Carlton, 1 Ritz Carlton Dr, Dana Point, CA 92629, United States. Speakers: Gary T. Steele, Chairman, Chief Executive Officer and President.

 

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Price/Earnings 28.1x
Price/Sales 0.7x
Price/Book 1.8x
Price/Cash Flow 27.7x
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