Landec: Fiscal 2Q Earnings Snapshot
SANTA CLARA, Calif. (AP) _ Landec Corp. (LNDC) on Thursday reported a fiscal second-quarter loss of $584,000, after reporting a profit in the same period a year earlier.
The Santa Clara, California-based company said it had a loss of 2 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were less than 1 cent on a per-share basis.
The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.
The agricultural and food packaging products company posted revenue of $124.9 million in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $126 million.
For the current quarter ending in March, Landec said it expects revenue in the range of $156 million to $159 million.
Landec shares have decreased roughly 4 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.41, a fall of nearly 10 percent in the last 12 months.