MENLO PARK, Calif., July 29, 2014 (GLOBE NEWSWIRE) -- Landec Corporation (Nasdaq:LNDC), a Company that develops and markets innovative and proprietary products for healthy living applications in food and biomedical markets, reported results for the fiscal 2014 fourth quarter and fiscal year ended May 25, 2014.
- Consolidated revenues increased 13% to $120.9 million with Apio's value-added vegetable business up 13% and Apio's export business up 26% compared to the fourth quarter of last year. Revenues for the Lifecore Biomedical business were essentially flat compared to the fourth quarter of last year due to lower sales of fermentation products.
- Net income was $4.5 million or $0.17 per share equaling the fourth quarter of last year.
- Cash and marketable securities totaled $14.2 million at year end after generating $21.0 million in cash flows from operations and after spending $14.9 million primarily for capacity expansion and reducing debt by $9.9 million during fiscal 2014. The Company had $27.7 million available under its lines of credit as of May 25, 2014.