SANTA MARIA, Calif. (AP) — Landec Corp. (LNDC) on Wednesday reported a loss of $5.5 million in its fiscal third quarter.
The Santa Maria, California-based company said it had a loss of 19 cents per share. Losses, adjusted for restructuring costs, came to 9 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The agricultural and food packaging products company posted revenue of $137.8 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $139.7 million.
Landec expects full-year revenue in the range of $523 million to $532 million.
Landec shares have climbed nearly 1% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $10.92, an increase of 11% in the last 12 months.