MENLO PARK, Calif., March 31, 2015 (GLOBE NEWSWIRE) — Landec Corporation (Nasdaq:LNDC), a leading developer and marketer of innovative and proprietary products for healthy living applications in the food and biomedical markets, reported results for the third quarter of fiscal 2015 and first nine months ended March 1, 2015.
“We experienced continued growth in our third quarter,” said Gary Steele, Landec’s Chairman and CEO. “Consolidated revenues increased 10% compared to the third quarter of last year, driven primarily from the 90% growth in sales of Eat Smart® superfood products at Apio Inc., our food business. Overall revenues in Apio’s value-added vegetable business increased 21% due to continued growth of our Eat Smart products, including the three superfood salad kits launched in fiscal 2015. The growth in revenues coupled with a favorable product mix change resulted in a 34% increase in gross profit in our value-added vegetable business and a 44% increase in Apio’s operating income during the quarter compared to the third quarter of last year.