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Landec: Fiscal 2Q Earnings Snapshot

·1 min read

SANTA MARIA, Calif. (AP) _ Landec Corp. (LNDC) on Wednesday reported a loss of $13.3 million in its fiscal second quarter.

On a per-share basis, the Santa Maria, California-based company said it had a loss of 45 cents. Earnings, adjusted for non-recurring costs and restructuring costs, came to 2 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The agricultural and food packaging products company posted revenue of $130.9 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $134.2 million.

Landec expects full-year revenue in the range of $530 million to $550 million.

Landec shares have risen roughly 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.27, a rise of 12% 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