This Day On The Street
Continue to site
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

Landec Corporation's CEO Discusses F3Q 2012 Results - Earnings Call Transcript

In our food business, we are also benefitting from our strategic relationship with Windset Farms a leading grower of hydroponic greenhouse fruits and vegetables. Windset Farms is a partner and customer of our BreatheWay fresh-cut food packaging technology. We have hydroponic growing facilities and they have hydroponic growing facilities in Canada, Nevada and Santa Maria, California very near our Apio food operations. The Windset, Santa Maria facility is a newly constructed 3 million square feet state-of-the-art greenhouse facility, which is fully up and running now and is currently exceeding plan for producing and selling high-end premium priced tomatoes which includes Camparis, grapes, and cherry tomatoes.

Based on Windset’s operating performance the recent annual fair market value appraisal of Windset results in the value of our investment increasing by $5.8 million for all of fiscal year 2012. Of that 5.8 million increase, 1.2 million was recognized in the first half of our fiscal year, $3.5 million was recognized in the third quarter and the remaining 1.1 million is to be recognized in our fourth quarter. Windset’s hydroponic growing operations represents important departures from and key advantages versus traditional growing methods. First, there is no soil we used it all and with it 64 acres of hydroponic greenhouses. Windset produces the same amount of tomatoes that otherwise would require 5000 acres of soil growing tomatoes. And secondly, Windset’s hydroponic growing operations uses only 128 of the water for soil grown tomatoes. We are pleased with this investment. In addition to the change in fair market value of our investment on a quarterly basis we also recognize a 7.5% annual preferred dividend on our original $15 million preferred stock investment and that dividend amounts to $1.125 million per year which is accrued at roughly $281,000 per quarter.

Read the rest of this transcript for free on

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs