LANDEC CORPORATION LNDC Income Statement

Landec corporation (LNDC)

Income statement / Quarterly

Feb'20	Nov'19	Aug'19	May'19	Feb'19	Nov'18	Aug'18	Aug'18	May'18	May'18	Feb'18	Feb'18	Nov'17	Nov'17	Aug'17	May'17	May'17	Feb'17	Nov'16	Aug'16	May'16	Feb'16	Nov'15	Aug'15	May'15	Feb'15	Nov'14	Aug'14	May'14	Feb'14	Nov'13	Aug'13	May'13	Feb'13	Nov'12	Aug'12	May'12	Feb'12	Nov'11	Aug'11	May'11	Feb'11	Nov'10	Aug'10
Product sales
152,928	142,593	138,714	152,780	155,554	124,557	124,668	124,668	-	141,076	-	144,909	-	122,461	115,781	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Product sales
-	-	-	-	-	-	-	-	-	-	149,323	-	136,457	-	-	-	-	136,568	135,865	132,394	-	129,990	140,441	135,355	134,448	138,530	132,665	133,614	120,929	126,379	120,026	109,479	108,730	117,584	114,091	101,303	84,947	79,519	80,765	72,321	71,867	71,490	67,720	62,261
Services revenue, related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	283	563	771	-	545	805	980	791	549	986	1,065
License fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,470	1,462	1,627
Product sales
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	117,867	114,654	102,074	-	80,064	81,570	73,301	68,099	73,509	70,168	64,953
Cost of product sales
132,881	127,079	123,378	126,568	133,985	107,672	108,331	108,331	-	116,267	-	125,103	-	107,540	96,979	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of product sales
-	-	-	-	-	-	-	-	-	-	129,195	-	120,705	-	-	-	-	113,136	116,912	111,250	-	117,059	123,176	117,378	115,780	121,645	116,999	119,426	104,786	106,224	106,292	96,947	95,487	100,090	95,707	87,664	69,819	66,432	67,894	61,269	59,644	60,321	56,478	50,724
Cost of product sales, related party
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	227	960	1,562
Cost of services revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	269	488	647	-	460	666	782	659	483	875	850
Total cost of revenue
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	100,359	96,195	88,311	-	66,892	68,560	62,051	57,554	61,031	58,313	53,136
Gross profit
20,047	15,514	15,336	26,212	21,569	16,885	16,337	16,337	-	24,809	20,128	19,806	15,752	14,921	18,802	-	15,683	23,432	18,953	21,144	18,608	12,931	17,265	17,977	18,668	16,885	15,666	14,188	16,143	20,155	13,734	12,532	13,030	17,508	18,459	13,763	14,706	13,172	13,010	11,250	10,545	12,478	11,855	11,817
Operating costs and expenses:
Research and development
2,747	2,822	2,821	3,461	2,739	2,475	2,833	2,791	-	3,596	3,113	3,113	3,372	3,372	2,719	-	3,556	2,014	1,965	1,938	1,815	1,895	1,643	1,875	1,613	1,755	1,825	1,795	1,636	1,723	1,919	1,926	2,652	2,325	2,113	2,204	2,482	2,473	2,337	2,333	2,513	2,275	2,255	2,232
Selling, general and administrative
18,783	18,728	16,895	20,271	15,588	14,400	13,951	13,803	-	13,141	13,807	13,208	12,934	12,244	13,358	-	10,022	15,009	13,724	13,736	10,542	10,659	12,815	12,165	10,852	10,298	9,949	8,859	9,201	8,700	8,639	8,630	6,265	8,524	9,186	8,556	7,343	6,664	6,464	6,044	6,426	6,458	6,072	5,652
Restructuring costs
13,528	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal settlement charge
-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-2,080	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Impairment of GreenLine trade name
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	34,000	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other operating expenses
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-3,933	-	-	-	-	-	-	-	-	-
Total operating costs and expenses
35,058	21,550	19,716	23,732	18,327	16,875	16,784	16,594	-	16,737	16,920	16,321	16,306	15,616	16,077	-	14,078	19,103	15,689	15,674	12,357	46,554	14,458	14,040	12,465	12,053	11,774	10,654	10,837	10,423	10,558	10,556	8,917	10,849	7,366	10,760	11,246	9,137	8,801	8,377	13,719	8,733	8,327	7,884
Operating (loss) income
-15,011	-6,036	-4,380	2,480	3,242	10	-447	-257	-	8,072	3,208	3,485	-554	-695	2,725	-	1,605	4,329	3,264	5,470	6,251	-33,623	2,807	3,937	6,203	4,832	3,892	3,534	5,306	9,732	3,176	1,976	4,113	6,659	11,093	3,003	3,460	4,035	4,209	2,873	-3,174	3,745	3,528	3,933
Dividend income
281	281	281	412	413	412	413	413	-	412	413	413	412	412	413	-	412	413	412	413	411	413	413	413	402	413	321	281	282	281	281	281	282	281	281	281	282	281	281	281	-	47	-	-
Interest income
46	25	25	32	34	33	46	46	-	51	87	87	42	42	31	-	0	8	4	4	7	17	16	31	46	85	91	93	76	78	46	60	74	46	33	26	-40	63	81	76	86	120	117	107
Other expense
-	206	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain (Loss) on Extinguishment of Debt
-	-	-	-	-	-	-	-	-	-	0	-	0	-	-	-	-	0	-1,233	-	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest expense
2,211	-	-	-	1,771	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	502	-	510	472	383	393	390	436	431	482	487	498	541	437	153	163	176	188	196	209	227
Interest Expense, Net
-	2,169	2,075	-	-	746	758	758	-	535	531	531	480	480	404	-	393	400	380	653	-	484	439	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income, net
67	200	-	-	0	600	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other income
-	-	0	-	-	-	1,000	1,000	-	700	0	0	1,300	1,300	900	-	200	700	0	0	200	0	200	800	400	1,307	1,200	200	1,900	400	2,300	5,400	1,811	1,047	983	4,259	735	3,508	1,079	9	618	-44	-44	-58
Net (loss) income from continuing operations before tax
-16,828	-7,905	-6,149	969	1,918	309	254	444	-	8,700	3,177	3,454	720	579	3,665	-	1,824	5,050	2,067	5,234	-	-33,677	2,997	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,734	5,487	3,063	-2,377	3,672	3,392	3,755
Income tax benefit (expense)
-5,310	-1,165	-1,400	611	385	422	64	100	-	1,989	-12,909	-12,827	207	165	1,310	-	-98	1,556	693	1,889	-	-12,510	1,069	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,920	2,049	1,110	2,974	1,350	1,209	-1,352
Net (loss) income from continuing operations
-11,518	-6,740	-	-	1,533	-113	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (loss) income from continuing operations
-	-	-4,784	-	-	-	190	335	-	6,711	-	16,281	-	414	2,355	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Discontinued operations:
Loss from discontinued operations
0	0	0	-823	-609	-616	0	-190	-	-849	-	-277	-	141	-203	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax benefit
0	0	0	-194	-143	-145	0	-45	-	-250	-	-82	-	42	-60	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of tax
0	0	-	-	-466	-471	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of tax
-	-	0	-	-	-	0	-145	-	-599	-	-195	-	99	-143	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income before taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,679	-	6,127	5,032	3,725	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,691	-	2,324	1,785	1,301	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest rate swap
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	53	106	-54	-	-	-	-
Income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,679	1,874	2,475	-	2,754	2,920	2,565	7,225	-20	-40	20	-	-	-	-
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest
-	-	-	-	-	-	190	-	-	6,112	16,086	16,086	513	513	2,212	-	2,464	3,494	1,374	3,345	4,803	-21,167	1,928	2,988	4,251	3,803	3,247	2,424	4,616	6,422	3,493	4,811	4,585	4,792	8,972	4,463	2,894	4,814	3,438	1,953	-2,647	2,322	2,183	2,403
Non-controlling interest expense
-	-	-	-	-	-	0	-	-	4	-2	-2	26	26	66	-	12	-6	48	33	74	23	60	36	55	31	24	71	74	22	42	59	66	3	59	97	115	49	98	141	90	24	128	99
Net (loss) income applicable to common stockholders
-11,518	-6,740	-4,784	-262	1,067	-584	190	190	-	6,108	16,088	16,088	487	487	2,146	-	2,452	3,500	1,326	3,312	-	-21,190	1,868	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4,765	3,340	1,812	-2,737	2,298	2,055	2,304
Basic net loss per share:
(Loss) income from continuing operations (in dollars per share)
-0.39	-0.23	-0.16	0.01	0.05	0.00	0.01	0.01	-	0.23	-	0.59	-	0.02	0.09	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations (in dollars per share)
0.00	0.00	0.00	-0.02	-0.02	-0.02	0.00	0.00	-	-	-	-0.01	-	-	-0.01	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total basic net loss per share (in dollars per share)
-0.39	-0.23	-0.16	-0.01	0.03	-0.02	0.01	0.01	-	0.22	0.58	0.58	0.02	0.02	0.08	-	0.09	0.13	0.05	0.12	0.17	-0.78	0.07	0.11	0.15	0.14	0.12	0.09	0.17	0.24	0.13	0.18	0.16	0.19	0.35	0.17	0.10	0.19	0.13	0.07	-0.11	0.09	0.08	0.09
Diluted net loss per share:
(Loss) income from continuing operations (in dollars per share)
-0.39	-0.23	-0.16	0.01	0.05	0.00	0.01	0.01	-	0.24	-	0.58	-	0.02	0.08	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations (in dollars per share)
0.00	0.00	0.00	-0.03	-0.01	-0.02	0.00	0.00	-	-	-	-0.01	-	-	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total diluted net loss per share (in dollars per share)
-0.39	-0.23	-0.16	-0.02	0.04	-0.02	0.01	0.01	-	0.22	0.58	0.57	0.02	0.02	0.08	-	0.08	0.13	0.05	0.12	0.17	-0.78	0.07	0.11	0.15	0.14	0.12	0.09	0.16	0.24	0.13	0.18	0.16	0.18	0.34	0.17	0.11	0.18	0.13	0.07	-0.11	0.09	0.08	0.09
Shares used in per share computation
Basic (in shares)
29,170	29,155	29,139	29,015	28,919	27,764	27,738	27,738	-	27,569	27,547	27,547	27,518	27,518	27,506	-	27,350	27,286	27,249	27,219	27,096	27,054	27,021	27,005	26,946	26,886	26,864	26,840	26,792	26,697	26,571	26,452	-77,152	25,839	25,747	25,670	77,805	25,538	25	26	26,389	26,375	26,324	26,500
Diluted (in shares)
29,170	29,155	29,139	29,493	29,151	27,764	28,020	28,020	-	28,009	27,918	27,918	27,875	27,875	27,858	-	27,787	27,682	27,618	27,521	26,293	27,054	27,420	27,409	27,400	27,363	27,314	27,267	27,205	27,124	27,070	27,081	-79,311	26,667	26,539	26,212	78,626	25,825	26	26	26,591	26,634	26,560	26,719
Other comprehensive loss, net of tax:
Net unrealized losses on interest rate swaps (net of tax effect of $124, $215, $305, $190)
-411	127	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized losses on interest rate swaps (net of tax effect of $265 and $27)
-	-	612	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net unrealized losses on interest rate swaps (net of tax effect of $124, $215, $305, $190)
-	-	-	-	-595	76	-89	-89	-	-	347	347	239	239	-103	-	-	103	327	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive loss, net of tax
-411	127	-612	-	-595	76	-89	-89	-	-	347	347	239	239	-103	-	-	103	327	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Total comprehensive (loss) income
-	-	-5,396	-	-	-	101	101	-	-	16,435	16,435	726	726	2,043	-	-	3,603	1,653	3,312	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other comprehensive income, net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-	-	-	-	-	10,101	5,367	7,286	-	7,546	11,892	7,028	20,219	33	66	-34	-	-	-	-
Total comprehensive (loss) income
-11,929	-6,613	-	-	472	-508	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-21,190	1,868	2,952	-	3,772	3,223	2,353	4,542	6,400	3,451	4,752	4,519	4,789	8,913	4,366	2,714	4,798	3,406	1,778	-	-	-	-