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Landec: Fiscal 2Q Earnings Snapshot

January 3, 2019

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LNDC at https://www.zacks.com/ap/LNDC

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