March 28, 2017 / 9:32 PM / 5 months ago

BRIEF-Landec Corp agrees to settle labor related legal actions and updates guidance

March 28 (Reuters) - Landec Corp -

* Landec Corporation agrees to settle labor related legal actions and updates guidance

* Sees q4 earnings per share $0.09 to $0.11

* Sees q4 revenue $134 million to $137 million

* Reaffirms q3 2017 earnings per share view $0.16 to $0.19

* Sees q3 2017 revenue $133 million to $140 million

* Subsidiary reached an agreement in principle to settle a variety of claims made against company and its labor contractor

* During q3 ended february 26, 2017, apio will be recording an additional legal settlement charge of $2.1 million, or $0.05 per share after tax

* For q3 of fiscal 2017, we are reiterating our revenue guidance of $133 million to $140 million

* For q3 of fiscal 2017 reiterating our net income guidance of $0.16 to $0.19 per share, prior to $2.1 million additional legal settlement charge

* Now expect our revenues in q4 to be $134 million to $137 million and net income to be $0.09 to $0.11 per share

* Landec Corp- "Do not expect heavy rains this winter to have a negative impact on our financial results in fiscal 2018" Source text for Eikon: Further company coverage:

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