Landec (NASDAQ:LNDC) posted its quarterly earnings results on Wednesday. The basic materials company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01, Bloomberg Earnings reports. Landec had a net margin of 1.80% and a return on equity of 4.17%. The business had revenue of $136.50 million for the quarter, compared to the consensus estimate of $135.82 million. During the same period in the prior year, the business posted $0.05 earnings per share. Landec’s revenue for the quarter was up .4% compared to the same quarter last year. Landec updated its Q3 guidance to $0.14-0.16 EPS and its FY18 guidance to $0.52-0.58 EPS.
Shares of Landec (NASDAQ LNDC) traded down $0.10 during trading hours on Wednesday, reaching $12.50. 85,300 shares of the company were exchanged, compared to its average volume of 129,400. The company has a market capitalization of $346.58, a PE ratio of 35.71 and a beta of 1.22. Landec has a 12-month low of $11.20 and a 12-month high of $14.95. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.53 and a quick ratio of 1.04.
In related news, CEO Molly Hemmeter sold 7,399 shares of the company’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $13.06, for a total value of $96,630.94. Following the completion of the sale, the chief executive officer now directly owns 53,017 shares in the company, valued at $692,402.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.62% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Landec (LNDC) Releases Earnings Results, Beats Estimates By $0.01 EPS” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2018/01/03/landec-lndc-releases-earnings-results-beats-estimates-by-0-01-eps.html.
Landec Company Profile
Landec Corporation designs, develops, manufactures and sells a range of health and wellness products for food and biomaterials markets. The Company licenses technology applications to partners. The Company operates through three segments: Packaged Fresh Vegetables, Food Export and Biomaterials. The Packaged Fresh Vegetables segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry.
Receive News & Ratings for Landec Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landec and related companies with MarketBeat.com's FREE daily email newsletter.