Landec meets Q3 profit expectations
Shares of Landec Corp. (Nasdaq:LNDC) are rising on news after the close on Wednesday that the maker of specialty polymer products met Wall Street’s third-quarter profit expectations. The Menlo Park, Calif.-based company reported that net income for the three months ended Feb. 24 was $4.0 million, or $0.15 per share, in line with the consensus of six analysts polled by Thomson Financial. Profit was $24.6 million, or $0.92 per share, a year earlier.
At 11:34 a.m. ET, the stock had gained $0.85, or 11%, to $8.69. For detailed price information and recent news stories about Landec, click LNDC.
