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Landec Corporation Reports First Quarter Fiscal Year 2012 Results

Stocks in this article: LNDC

Yes. Our new investment search is focused on opportunities where we can accelerate growth in our core businesses of food and biological materials while increasing our overall margins. We are focused on identifying potential investment targets that have technology and commercial products that are synergistic with our polymer technologies and our existing core businesses.

5) Is the fresh-cut produce category returning to a growth mode and how has the weather been in California during the first part of fiscal year 2012?

We have seen some growth over the last six months and are hopeful this is a trend that will continue during all of fiscal year 2012. The overall fresh-cut produce category experienced a 6% growth in volume during the last six months. This growth is coming mostly in the bagged fresh-cut vegetable category whereas the fresh-cut vegetable tray demand has yet to rebound. For our internal plan for fiscal year 2012, we expected year-over-year growth in the industry category to be about 3%. As for the weather, we have experienced very good weather this summer with no sourcing issues through the first four months of fiscal year 2012.

6) What are the future plans for your seed business now that Monsanto has informed you that they are discontinuing work on your technology?

We have hired an Ag consulting firm to investigate business options for our Intellicoat technology. They are actively arranging meetings with top seed treatment and crop protection companies. Our technology team is continuing to advance our controlled release technology for agricultural applications.

7) Has the Company recently purchased any of its Common Stock under the buyback plan approved by the Board of Directors?

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