Landec Corp. (LNDC) Tops Q3 EPS by 2c; Sees FY11 EPS Below Low-End of Prior Outlook

March 29, 2011 4:16 PM EDT
Landec Corp. (NASDAQ: LNDC) reported Q3 EPS of $0.09, $0.02 better than the analyst estimate of $0.07. Revenue for the quarter came in at $73.51 million versus the consensus estimate of $66.75 million.

CEO Gary Steele commented, “We believe at this time that we can meet our existing guidance for revenue growth of 12% to 15%. However, as a result of the continuing weather related sourcing issues at Apio and the uncertainty about the impact these sourcing issues will have on our operating results during our fourth fiscal quarter, it would not be prudent at this time to declare new earnings per share guidance other than to state we believe our earnings per share should show growth over last year’s earnings per share of $0.29 after excluding the non-recurring charges in fiscal year 2010, but will probably fall short of the lower end of our recent earnings per share guidance for fiscal year 2011 of $0.34.”


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