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Landec: Fiscal 3Q Earnings Snapshot

SANTA CLARA, Calif. (AP) _ Landec Corp. (LNDC) on Wednesday reported fiscal third-quarter profit of $1.1 million.

The Santa Clara, California-based company said it had profit of 4 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The agricultural and food packaging products company posted revenue of $155.7 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $156.5 million.

For the current quarter ending in May, Landec said it expects revenue in the range of $150 million to $153 million.

The company expects full-year earnings to be 15 cents to 18 cents per share.

Landec shares have risen almost 10 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $12.98, a fall of 2 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