date:Jan 06, 2014
produce that cost more than contract prices, Landec said. Apio Inc. has posted continued growth in recent quarters, but these shortages negatively impacted profits by $4.4 million.
Landec lowered its full-year earnings outlook in November in anticipation of the shortages, and now expects an income range of flat to 5% growth, versus the up to 20% income growth previously predicted. The company backed its 6% revenue growth estimate.
The company previously said it expected shortages and quality