Landec Appoints Molly Hemmeter as COO - Analyst Blog

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Landec Corporation ( LNDC ), a materials sciences company, has announced the appointment of Molly A. Hemmeter as its Chief Operating Officer (COO). Hemmeter joined Landec in 2009 and her contributions in the company have been substantial.

Hemmeter joined Landec as the VP of Business Development and gradually became Landec's Chief Commercial Officer. She worked as an operational lead for the acquisitions of Lifecore and Greenline and for Landec's investment in Windset Farms. Hemmeter has also been instrumental in expanding the marketing and new product innovation capabilities at the company's Apio food subsidiary.

Landec is launching a new category of fresh-cut specialty packaged vegetable salads and other value added, specialty packaged products under the leadership of Hemmeter. The company remains impressed with Hemmeter's achievements and expects her new role to enable it to achieve growth and profitability.

Prior to Landec, Hemmeter has worked at Ashland, Inc. 's ( ASH ) Performance Material Division, where she created processes for identifying global new business development opportunities. Previously, she also held a variety of managerial positions at Bausch & Lomb and Eli Lilly and Company ( LLY ) in areas of P&L.

Landec has also released its results for second-quarter fiscal 2014 (ended Nov 24, 2013). The company posted earnings of 13 cents per share, down roughly 62% from 34 cents in the corresponding year-ago period. The results were however in line with the Zacks Consensus Estimate.

Revenues increased 5% year over year to $120 million due to a 12% rise in the company's Apio's value-added businesses' revenues and a 13% increase in revenues at Lifecore. Sales, however, missed the Zacks Consensus Estimate of $124 million.

Cash and marketable securities was $5.8 million as of Nov 24, 2013, compared with $6.8 million as of Nov 25, 2012.  The company had $27.7 million available under its lines of credit as of Nov 24, 2013.
Landec expects revenues for fiscal 2014 to meet or exceed its original guidance of 6% growth and forecasts net income to be flat to up 5% compared to fiscal 2013, after excluding the $3.9 million earn out adjustment in fiscal 2013.

Landec currently retains a Zacks Rank #4 (Sell).

A better-ranked stock in the chemical-plastics industry is Westlake Chemical Corporation ( WLK ), carrying a Zacks Rank #2 (Buy).



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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Business , Stocks

Referenced Stocks: ASH , COO , LLY , LNDC , WLK

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