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Landec: Fiscal 1Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Landec Corp. (LNDC) on Tuesday reported fiscal first-quarter net income of $190,000.

On a per-share basis, the Santa Clara, California-based company said it had profit of 1 cent.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The agricultural and food packaging products company posted revenue of $124.7 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $123.9 million.

For the current quarter ending in December, Landec said it expects revenue in the range of $125 million to $129 million.

The company expects full-year earnings to be 45 cents to 50 cents per share.

Landec shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14.02, an increase of 10 percent in the last 12 months.


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