Landec reports Q4 net loss of $2.9M; Lifecore FY revenue up 14%; provides FY2022 guidance

LIFECORE BIOMEDICAL, INC. DE

2021-FY EPS reported -$1.12 revenue$544,161,000

Q4 revenue $139.8M (-10% YoY), net loss $2.9M vs loss $15.1M last year, adjusted EPS $0.07.
FY2021 revenue $544.2M (-8% YoY), net loss $32.7M, adjusted EBITDA $31.4M (+43% YoY).
Lifecore FY revenue $98.1M (+14%), EBITDA $24.5M (+22%); Curation Foods Q4 gross margin 11.9% (target 11-14%).
FY2022 guidance: revenue $545-554M, adjusted EBITDA $33.3-35.5M; Lifecore revenue expected $105-108M.
Director Patrick Walsh resigned July 27, not due to any disagreement; board reduced to 10 members.

item 2.02 item 5.02 item 9.01

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Departed

Patrick D. Walsh

Director

LFCR · LIFECORE BIOMEDICAL, INC. DE

Effective: 2021-07-27
Filed: July 28, 2021, 7:59 PM ET

On July 27, 2021, Mr. Patrick D. Walsh, member of the Board of Directors (the “Board”) of the Company, notified the Company of his resignation from the Board effective as of such date.

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Executive change SEC 8-K Item 5.02 confidence 1.0

Patrick D. Walsh resigned as Director at LIFECORE BIOMEDICAL, INC. DE.

Action: resigned
Role: Director

Exact text from the filing

On July 27, 2021, Mr. Patrick D. Walsh, member of the Board of Directors (the “Board”) of the Company, notified the Company of his resignation from the Board effective as of such date.

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Source: SEC EDGAR

accession 0001005286-21-000040

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