Landec Corporation (LNDC) financial statements (2022 and earlier)

Company profile

Business Address 2811 AIRPARK DRIVE
SANTA MARIA, CA 93455
State of Incorp. CA
Fiscal Year End May 31
SIC 2033 - Canned Fruits, Vegetables, Preserves, Jams, and Jellies (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

11/30/2021
TTM
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,0911,2953601,0802,8995,409
Cash and cash equivalents1,0911,2953601,0802,8995,409
Receivables65,27670,01376,20669,56553,87747,083
Inventory, net of allowances, customer advances and progress billings79,43369,66366,31154,13231,81925,290
Inventory79,43369,66366,31154,13231,81925,290
Disposal group, including discontinued operation    518 
Other undisclosed current assets8,7217,35014,2308,2647,9503,498
Total current assets:154,521148,321157,107133,04197,06381,280
Noncurrent Assets
Operating lease, right-of-use asset11,97920,82725,321
Property, plant and equipment179,929179,559192,338200,027159,624133,220
Intangible assets, net (including goodwill)62,657102,75684,419151,91792,38093,618
Goodwill37,32969,38669,38676,74254,51054,779
Intangible assets, net (excluding goodwill)25,32833,37015,03375,17537,87038,839
Other noncurrent assets3,2393,6112,1562,9345,1642,918
Other undisclosed noncurrent assets9,79947,85079,97231,17250,47247,572
Total noncurrent assets:267,603354,603384,206386,050307,640277,328
TOTAL ASSETS:422,124502,924541,313519,091404,703358,608
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities76,11667,86970,65974,73653,35243,204
Accounts payable59,09847,56951,64753,97334,66825,868
Accrued liabilities9,8047,9969,97810,0768,7069,125
Employee-related liabilities7,21412,3049,03410,6879,9788,211
Deferred revenue1,1601,130352
Debt42,00029,12111,6799,8935,0254,940
Disposal group, including discontinued operation   65458 
Deferred revenue and credits 310
Contract with customer, liability499
Other liabilities   1,7385,280 
Other undisclosed current liabilities2,9883,76881,69850,16024,2603,000
Total current liabilities:122,264101,888164,388137,09188,37551,454
Noncurrent Liabilities
Long-term debt and lease obligation124,194188,513127,74190,72541,00146,030
Long-term debt, excluding current maturities124,194164,902101,36387,19337,36042,299
Finance lease, liability 3,3063,436
Capital lease obligations3,5323,6413,731
Operating lease, liability 20,30522,942
Liabilities, other than long-term debt5,2619,73918,14019,39317,48524,581
Deferred tax liabilities, net19,39317,48524,581
Deferred income tax liabilities1,3676,14013,588
Other liabilities3,8943,5994,552   
Other undisclosed noncurrent liabilities14,203  1,7385,2808,391
Total noncurrent liabilities:143,658198,252145,881111,85663,76679,002
Total liabilities:265,922300,140310,269248,947152,141130,456
Stockholders' equity
Stockholders' equity attributable to parent156,202202,784231,044270,144252,562226,609
Common stock292929292827
Additional paid in capital166,327165,533162,578160,341142,087141,680
Accumulated other comprehensive income (loss)(816)(1,358)(2,808)641,148432
Retained earnings (accumulated deficit)(9,338)38,58071,245109,710109,29984,470
Stockholders' equity attributable to noncontrolling interest     1,543
Total stockholders' equity:156,202202,784231,044270,144252,562228,152
TOTAL LIABILITIES AND EQUITY:422,124502,924541,313519,091404,703358,608

Income statement (P&L) ($ in thousands)

11/30/2021
TTM
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
Revenues535,895544,161590,366557,559524,227532,257
Revenue, net 532,257
Cost of revenue
(Cost of Goods and Services Sold)
(460,892)(462,687)(515,378)(476,556)(445,889)(449,071)
Gross profit:75,00381,47474,98881,00378,33883,186
Operating expenses(115,402)(94,970)(113,525)(75,528)(64,751)(67,681)
Operating income (loss):(40,399)(13,496)(38,537)5,47513,58715,505
Nonoperating income (expense)945(10,516)(3,167)3,3954,7612,566
Investment income, nonoperating6381,1731,2281,7951,8611,666
Other nonoperating income (expense)307(11,689)(4,395)1,6002,900900
Interest and debt expense(7,212)(1,110)(358)  (1,233)
Income (loss) from continuing operations before equity method investments, income taxes:(46,666)(25,122)(42,062)8,87018,34816,838
Other undisclosed loss from continuing operations before income taxes(15,344)(15,344)(9,245)(5,230)(1,950)(1,826)
Income (loss) from continuing operations before income taxes:(62,010)(40,466)(51,307)3,64016,39815,012
Income tax expense (benefit)5,7287,80113,116(1,518)9,363(4,335)
Income (loss) from continuing operations:(56,282)(32,665)(38,191)2,12225,76110,677
Loss from discontinued operations   (1,711)(838) 
Net income (loss):(56,282)(32,665)(38,191)41124,92310,677
Net loss attributable to noncontrolling interest    (94)(87)
Net income (loss) available to common stockholders, diluted:(56,282)(32,665)(38,191)41124,82910,590

Comprehensive Income ($ in thousands)

11/30/2021
TTM
5/31/2021
5/31/2020
5/31/2019
5/31/2018
5/31/2017
Net income (loss):(56,282)(32,665)(38,191)41124,92310,677
Other comprehensive income (loss)1,8681,450(2,872)(1,084)716432
Other undisclosed comprehensive loss    (94)(87)
Comprehensive income (loss):(54,414)(31,215)(41,063)(673)25,54511,022
Comprehensive loss, net of tax, attributable to noncontrolling interest    (94)(87)
Other undisclosed comprehensive loss, net of tax, attributable to parent(581)     
Comprehensive income (loss), net of tax, attributable to parent:(54,995)(31,215)(41,063)(673)25,45110,935

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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