Landec Q1 Profit Rises

(RTTNews) - Polymer products company Landec Corp. (LNDC), on Tuesday reported first-quarter net income applicable to common stockholders of $4.8 million, or $0.18 per share, compared to $4.4 million, or $0.17 per share in the comparable quarter last year.

On average, five analysts polled by Thomson Reuters expected the company to earn $0.23 per share for the quarter. Analysts estimate typically excludes one-time items.

Meanwhile, total revenue in the quarter rose 7 percent to $109.48 million from $102.07 million in the prior year quarter, while four analysts expected the company to generate revenues of $108.62 million for the quarter.

Looking ahead to fiscal 2014, the company said it is reiterating its financial guidance, which is to grow revenues by approximately 6% and net income by approximately 20%, after excluding the $3.9 million earn out adjustment in fiscal 2013, barring any significant weather-related negative events during the remainder of fiscal 2014.