Landec Corporation has reported on its results for the third quarter of fiscal 2013, with revenues up 47 per cent to US$117.9m and net income level on a year-on-year basis at US$4.8m.
According to the packaging specialist, the results reflected strong operating results in a number of segments including the fresh-cut specialty packaged food subsidiary Apio's value-added business.
'We had a good third quarter despite the significant weather-related produce sourcing issues in California which reduced gross profit for Apio by US$3m,' said Gary Steele, Landec's chairman and CEO.
Looking ahead, Landec said that for fiscal year 2013 compared to fiscal year 2012, it expected revenue to grow 37 per cent to 38 per cent, compared with prior guidance of 33 per cent to 38 per cent, and net income to growth of 70 per cent to 75 per cent.
