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Landec profit misses consensus by 28.7% in fiscal Q2

Landec Corp. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, came to 9 cents per share, compared with the S&P Capital IQ consensus estimate of 12 cents per share.

EPS climbed 25.3% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.4 million, an increase of 26.5% from $1.9 million in the prior-year period.

The normalized profit margin rose to 1.8% from 1.6% in the year-earlier period.

Total revenue increased 10.5% year over year to $132.7 million from $120.0 million, and total operating expenses grew 10.2% on an annual basis to $128.8 million from $116.8 million.

Reported net income decreased 6.9% year over year to $3.3 million, or 12 cents per share, from $3.5 million, or 13 cents per share.