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Lifecore Biomedical, Inc. (LCBM) Reports Results for First Quarter Ended September 30, 2007


10/17/2007 12:35:01 PM

CHASKA, Minn.--(BUSINESS WIRE)--LIFECORE BIOMEDICAL, INC. (Nasdaq:LCBM) today reported net sales of $15.7 million in the first quarter ended September 30, 2007, an increase of 5 percent over net sales of $15.0 million in the first quarter of fiscal year 2007. Foreign currency translation comparisons increased current quarter sales by $184,000 compared to the first quarter of last fiscal year. Net income of $1,263,000, or $.09 per diluted share, was posted for the quarter compared to net income of $1,139,000, or $.08 per diluted share, in the quarter ended September 30, 2006. Income tax expense was recorded for the first quarter at an annual effective rate of 39.0% compared to an effective rate of 38.5% in the first quarter a year ago.

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