MENLO PARK, Calif., Sept. 24, 2013 (GLOBE NEWSWIRE) -- Landec Corporation (Nasdaq:LNDC), a materials science company that develops and markets innovative and patented products for healthy living applications in food and biomedical markets, reported results for the first quarter of fiscal 2014 ended August 25, 2013.
- Revenues increased 7% to $109.5 million, with Apio, Inc.'s value-added vegetable business up 16% and Lifecore Biomedical, Inc. up 8% compared to the first quarter of last year.
- Net income increased 9% to $4.8 million or $0.18 per share compared to the last year's first quarter.
- Operating income met plan but approximately $0.06 per share of net income from the change in the fair market value of our Windset investment will be shifted from the first quarter to the remaining three quarters due to timing.
- Cash and marketable securities totaled $10.2 million at quarter end after spending $4.3 million for capacity expansion and reducing debt by $4.3 million during the quarter.