This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Landec CEO Discusses F4Q 2011 Results - Earnings Call Transcript

Stocks in this article: LNDC

During fiscal year 2011, we also continue to work closely with Chiquita to expand the Chiquita-to-Go banana program and to launch the Fresh & Ready Avocado product line with both programs utilizing our BreatheWay proprietary packaging technology. Both programs continue to expand. The newer Avocados program is delivering fully ripened and ready to eat avocados to consumers and at the same time, the program is delivering two participating retailers, good revenue growth in the new category for Chiquita providing double-digit sales increases compared to conventional avocados.

In our third fiscal quarter, we announced $15 million equity investment in Windset Farms. Apio, our food subsidiary had an existing exclusive license agreement with Windset and views the equity investment as a continuation of our ongoing strategic partnership in the fresh produce market.

Apio gives Windset Farms, the most advanced hydroponic greenhouse producer in North America where the demand for hydroponically grown produce is rising rapidly. The hydroponic process just as in the side uses no soil and only a fraction of the water required in fuel production. Furthermore, the process results in higher yields per acre and it is not burdened with traditional weather-related or soil-borne risk.

In our existing license agreement, Windset Farms license from us the exclusive rights to Apio’s BreatheWay packaging technology for use with their hydroponic greenhouse grown cucumbers, tomatoes, and peppers.

As part of our strategic equity investment in Windset, we also received a 7.5% annual dividend on our investment and quarterly we will recognize 20.1% of the change in their fair market value. By example, from the closing date of February 15, 2011 through the end of fiscal year 2011, which was this past May, Landec recognized $328,000 in dividends and $662,000 in income from the increase in the fair market value of its investment in Windset.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs