Landec Corporation has reported on its results for the second quarter of fiscal 2011, with the group announcing year-on-year improvements in both revenue and net income.
For three-month period ended 28 November 2010, Landec's revenues increased 15 per cent to hit US$70.2m, while net income rose 34 per cent (or US$521,000) to reach US$2.1m.
Chairman and CEO Gary Steele said that, while revenues and income had been boosted by the recent acquisition of Lifecore Biomedical, difficult weather conditions had impacted on its Apio, Inc. food business through the quarter.
'In our Apio, Inc. food business, as previously disclosed in our press release three weeks ago, prolonged cold and wet weather has adversely impacted produce sourcing for the produce industry and for Apio's value-added, fresh-cut vegetable business,' Mr Steele noted.
As a result, Apio's fresh-cut vegetable business revenues fell by 4 per cent, or US$1.6m, he explained.
Meanwhile, Landec revealed that it was 'pleased' with the progress being made in the roll out of Chiquita's Fresh & Ready Avocado programme in the US, which adopts BreathWay technology.
'The BreathWay technology is performing as designed, maintaining shelf-life for both retailers and consumers and delivering fully ripened and ready-to-eat avocados,' the group said. 'According to Chiquita, its retail customers for Fresh & Ready avocados are experiencing double-digit sales increases with substantially lower shrink compared to conventional avocados.'
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