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Stock Market & Financial Investment News

News Breaks
January 2, 2013
16:18 EDTLNDCLandec restates Q1 EPS as 17c instead of 10c
Landec has restated its financial statements for Q1 to reflect a $2.9M increase in the previously reported Q1 fair market value of Windset Holdings 2010 Ltd. In Q1, the company understated the recorded value of its Windset investment, and the related investment income, by $2.9M and understated its net income by $1.8M, or 7c per share. Q1 EPS is now 17c from the previously reported 10c. Consensus for Q1 EPS was 8c.
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July 18, 2014
09:09 EDTLNDCLandec increases investment in Windset by 15,857 shares
Landec announced that its subsidiary, Apio, has increased its equity investment in Windset Holdings by purchasing 15,857 shares of non-voting Junior Preferred Stock which represents 8.5% of the outstanding Junior Preferred Stock and an additional 68 shares of Common Stock from the Newell Capital Corporation. The purchase of the 68 shares of Common Stock of Windset represents an additional 6.8% share in Apio's ownership in Windset and increases Apio's total Common Stock ownership in Windset from 20.1% to 26.9%. The aggregate purchase price for the Junior Preferred Stock and the additional Common Stock was $11M. With the increase in Apio's Common Stock ownership, beginning in 1Q15, Apio will recognize 26.9% of the quarterly change in the fair market value of Windset. The increased ownership is not expected to have a significant impact on the change in the fair market value recognized by Apio in FY15 since the purchase of the new 68 shares of Common Stock approximated fair market value at the time of transaction.

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