Landec Corporation (LNDC) Releases Earnings Results, Beats Expectations By $0.02 EPS

Landec Corporation (LNDC) announced its most recent quarterly financial results on Tuesday, Sep-27-2016. LNDC said it had a profit of $0.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.10. The company posted revenue of $132.40 million in the period, compared to analysts expectations of $134.45 million. LNDC’s revenue was down -2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS.

Many Wall Street Analysts have commented on Landec Corporation. Wedbush Initiated Landec Corporation on Jul 8, 2016 to “Neutral”, Price Target of the shares are set at $12.

Landec Corporation opened for trading at $12.71 and hit $13.03 on the upside on Tuesday, eventually ending the session at $12.97, with a gain of 1.81% or 0.23 points. The heightened volatility saw the trading volume jump to 2,46,755 shares. Company has a market cap of $353 M.

In a different news, on Aug 12, 2016, Gary T Steele (director) sold 34,484 shares at $12.47 per share price. According to the SEC, on Aug 8, 2016, Ronald Lane Midyett (Chief Operations Officer) sold 7,000 shares at $12.03 per share price. On Feb 8, 2016, Fred Frank (director) sold 4,573 shares at $12.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Landec Corporation designs develops manufactures and sells differentiated products for food and biomaterials markets and licenses technology applications to partners. The Company’s segments include Food Products Technology Food Export and Hyaluronan-based Biomaterials. The Company’s Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables. The Company’s Food Export segment is engaged in the purchase and sale of whole commodity fruit and vegetable products to Asia and domestically. The Company’s Hyaluronan-based Biomaterials segment sells products utilizing hyaluronan a polysaccharide that is distributed in the extracellular matrix of connective tissues in both animals and humans for medical use primarily in the ophthalmic orthopedic and veterinary markets. The Company licenses its Intellicoat seed coatings to the farming industry and licenses its Intelimer polymers for personal care products and other industrial products.

Landec Corporation

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