Landec Results Miss Estimates; Reaffirms FY Guidance

(RTTNews) - Landec Corp. (LNDC) on Tuesday reported first-quarter net earnings of $3 million or $0.11 per share compared with $2.4 million or $0.09 per share last year.

Revenues for the quarter were $135.4 million compared with $133.6 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.13 per share on revenues of $141.5 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2016 , the company still expects revenues to increase 7-9% compared to the prior year. Analysts expect revenues to grown 8.5%.

Landec is a developer of innovative and proprietary products for healthy living applications in the food and biomedical markets.