SANTA CLARA, Calif. (AP) _ Landec Corp. (LNDC) on Tuesday reported a fiscal first-quarter loss of $4.8 million, after reporting a profit in the same period a year earlier.
The Santa Clara, California-based company said it had a loss of 16 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 16 cents per share.
The agricultural and food packaging products company posted revenue of $138.7 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $131.1 million.
For the current quarter ending in December, Landec said it expects revenue in the range of $142 million to $146 million.
The company expects full-year earnings to be 28 cents to 32 cents per share.
Landec shares have declined nearly 9% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.80, a drop of 23% in the last 12 months.