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10-Q Filing

LIFECORE BIOMEDICAL, INC. DE CIK: 1005286 Q1 2013
Filing Information
Form Type 10-Q
Accession Number 0001437749-12-010018
Period End Date 20120831
Filing Date 20121003
Fiscal Year 2013
Fiscal Period Q1
XBRL Instance lndc-20120826.xml
Filing Contents

This filing contains the following financial statements:

Balance Sheet 83 line items
Line Item Tag Value Unit Period
Allowance for doubtful accounts (in Dollars) AllowanceForDoubtfulAccountsReceivableCurrent $524.00K USD Point-in-time
Allowance for doubtful accounts (in Dollars) AllowanceForDoubtfulAccountsReceivableCurrent $512.00K USD Point-in-time
Common stock, par value (in Dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, par value (in Dollars per share) CommonStockParOrStatedValuePerShare $0.00 USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 50.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $22.18M USD Point-in-time
Common stock, shares authorized CommonStockSharesAuthorized 50.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $8.13M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $7.24M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $10.05M USD Point-in-time
Common stock, shares issued CommonStockSharesIssued 25.71M shares Point-in-time
Common stock, shares issued CommonStockSharesIssued 25.64M shares Point-in-time
Marketable securities MarketableSecuritiesCurrent $756.00K USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $524 and $512 at August 26, 2012 and May 27, 2012, respectively AccountsReceivableNetCurrent $31.95M USD Point-in-time
Accounts receivable, less allowance for doubtful accounts of $524 and $512 at August 26, 2012 and May 27, 2012, respectively AccountsReceivableNetCurrent $30.30M USD Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 25.71M shares Point-in-time
Common stock, shares outstanding CommonStockSharesOutstanding 25.64M shares Point-in-time
Accounts receivable, related party AccountsReceivableRelatedPartiesCurrent $323.00K USD Point-in-time
Accounts receivable, related party AccountsReceivableRelatedPartiesCurrent $268.00K USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $316.00K USD Point-in-time
Income taxes receivable IncomeTaxesReceivable $47.00K USD Point-in-time
Inventories, net InventoryNet $22.01M USD Point-in-time
Inventories, net InventoryNet $23.54M USD Point-in-time
Deferred taxes DeferredTaxAssetsNetCurrent $2.08M USD Point-in-time
Deferred taxes DeferredTaxAssetsNetCurrent $2.08M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $2.58M USD Point-in-time
Prepaid expenses and other current assets PrepaidExpenseAndOtherAssetsCurrent $2.84M USD Point-in-time
Total Current Assets AssetsCurrent $81.16M USD Point-in-time
Total Current Assets AssetsCurrent $70.14M USD Point-in-time
Investment in non-public company, non-fair value CostMethodInvestments $793.00K USD Point-in-time
Investment in non-public company, non-fair value CostMethodInvestments $793.00K USD Point-in-time
Investment in non-public company, fair value FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue $21.50M USD Point-in-time
Investment in non-public company, fair value FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetValue $22.90M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $63.78M USD Point-in-time
Property and equipment, net PropertyPlantAndEquipmentNet $63.49M USD Point-in-time
Goodwill, net Goodwill $49.62M USD Point-in-time
Goodwill, net Goodwill $49.62M USD Point-in-time
Trademarks/tradenames, net IndefiniteLivedTrademarks $48.43M USD Point-in-time
Trademarks/tradenames, net IndefiniteLivedTrademarks $48.43M USD Point-in-time
Customer relationships, net FiniteLivedCustomerListsNet $10.27M USD Point-in-time
Customer relationships, net FiniteLivedCustomerListsNet $10.56M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.14M USD Point-in-time
Other assets OtherAssetsNoncurrent $2.04M USD Point-in-time
Total Assets Assets $277.69M USD Point-in-time
Total Assets Assets $267.96M USD Point-in-time
Accounts payable AccountsPayableCurrent $26.72M USD Point-in-time
Accounts payable AccountsPayableCurrent $22.64M USD Point-in-time
Related party accounts payable AccountsPayableRelatedPartiesCurrent $533.00K USD Point-in-time
Related party accounts payable AccountsPayableRelatedPartiesCurrent $776.00K USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $5.78M USD Point-in-time
Accrued compensation EmployeeRelatedLiabilitiesCurrent $3.96M USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrent $7.57M USD Point-in-time
Other accrued liabilities OtherAccruedLiabilitiesCurrent $18.64M USD Point-in-time
Deferred revenue DeferredRevenueNoncurrent $162.00K USD Point-in-time
Deferred revenue DeferredRevenueNoncurrent $276.00K USD Point-in-time
Lines of credit LinesOfCreditCurrent $11.67M USD Point-in-time
Lines of credit LinesOfCreditCurrent $7.50M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $7.01M USD Point-in-time
Current portion of long-term debt LongTermDebtCurrent $7.01M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $66.68M USD Point-in-time
Total Current Liabilities LiabilitiesCurrent $53.57M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $40.30M USD Point-in-time
Long-term debt, less current portion LongTermDebtNoncurrent $38.94M USD Point-in-time
Deferred taxes DeferredTaxLiabilitiesNoncurrent $18.91M USD Point-in-time
Deferred taxes DeferredTaxLiabilitiesNoncurrent $18.04M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $1.35M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $1.11M USD Point-in-time
Total Liabilities Liabilities $112.76M USD Point-in-time
Total Liabilities Liabilities $126.13M USD Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 25,709,984 and 25,644,580 shares issued and outstanding at August 26, 2012 and May 27, 2012, respectively CommonStockValue $26.00K USD Point-in-time
Common stock, $0.001 par value; 50,000,000 shares authorized; 25,709,984 and 25,644,580 shares issued and outstanding at August 26, 2012 and May 27, 2012, respectively CommonStockValue $26.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $120.90M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $119.89M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $29.82M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $32.36M USD Point-in-time
Total Stockholders Equity StockholdersEquity $149.74M USD Point-in-time
Total Stockholders Equity StockholdersEquity $153.29M USD Point-in-time
Non controlling interest MinorityInterest $1.82M USD Point-in-time
Non controlling interest MinorityInterest $1.91M USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $151.56M USD Point-in-time
Total Equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $155.20M USD Point-in-time
Total Liabilities and Stockholders Equity LiabilitiesAndStockholdersEquity $267.96M USD Point-in-time
Total Liabilities and Stockholders Equity LiabilitiesAndStockholdersEquity $277.69M USD Point-in-time
Income Statement 53 line items
Line Item Tag Value Unit Period
Product sales SalesRevenueGoodsNet $101.30M USD 1 Quarter
Product sales SalesRevenueGoodsNet $72.32M USD 1 Quarter
Services revenue, related party RevenueFromRelatedParties $771.00K USD 1 Quarter
Services revenue, related party RevenueFromRelatedParties $980.00K USD 1 Quarter
Total revenues Revenues $73.30M USD 1 Quarter
Total revenues Revenues $102.07M USD 1 Quarter
Cost of product sales CostOfGoodsSold $61.27M USD 1 Quarter
Cost of product sales CostOfGoodsSold $87.66M USD 1 Quarter
Cost of services revenue CostOfServices $647.00K USD 1 Quarter
Cost of services revenue CostOfServices $782.00K USD 1 Quarter
Total cost of revenue CostOfRevenue $88.31M USD 1 Quarter
Total cost of revenue CostOfRevenue $62.05M USD 1 Quarter
Gross profit GrossProfit $11.25M USD 1 Quarter
Gross profit GrossProfit $13.76M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $2.33M USD 1 Quarter
Research and development ResearchAndDevelopmentExpense $2.20M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $8.56M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $6.04M USD 1 Quarter
Total operating costs and expenses OperatingExpenses $8.38M USD 1 Quarter
Total operating costs and expenses OperatingExpenses $10.76M USD 1 Quarter
Operating income OperatingIncomeLoss $3.00M USD 1 Quarter
Operating income OperatingIncomeLoss $2.87M USD 1 Quarter
Dividend income InvestmentIncomeDividend $281.00K USD 1 Quarter
Dividend income InvestmentIncomeDividend $281.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $26.00K USD 1 Quarter
Interest income InvestmentIncomeInterest $76.00K USD 1 Quarter
Interest expense InterestExpense $541.00K USD 1 Quarter
Interest expense InterestExpense $176.00K USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $1.36M USD 1 Quarter
Other income OtherNonoperatingIncomeExpense $9.00K USD 1 Quarter
Net income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $4.13M USD 1 Quarter
Net income before taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $3.06M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.49M USD 1 Quarter
Income tax expense IncomeTaxExpenseBenefit $1.11M USD 1 Quarter
Consolidated net income ProfitLoss $2.64M USD 1 Quarter
Consolidated net income ProfitLoss $1.95M USD 1 Quarter
Non controlling interest NetIncomeLossAttributableToNoncontrollingInterest $97.00K USD 1 Quarter
Non controlling interest NetIncomeLossAttributableToNoncontrollingInterest $141.00K USD 1 Quarter
Net income applicable to Common Stockholders NetIncomeLoss $2.54M USD 1 Quarter
Net income applicable to Common Stockholders NetIncomeLoss $1.81M USD 1 Quarter
Basic net income per share (in Dollars per share) EarningsPerShareBasic $0.10 USD 1 Quarter
Basic net income per share (in Dollars per share) EarningsPerShareBasic $0.07 USD 1 Quarter
Diluted net income per share (in Dollars per share) EarningsPerShareDiluted $0.10 USD 1 Quarter
Diluted net income per share (in Dollars per share) EarningsPerShareDiluted $0.07 USD 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 26,409.00 shares 1 Quarter
Basic (in Shares) WeightedAverageNumberOfSharesOutstandingBasic 25,670.00 shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 26,212.00 shares 1 Quarter
Diluted (in Shares) WeightedAverageNumberOfDilutedSharesOutstanding 26,687.00 shares 1 Quarter
Interest rate swap UnrealizedGainLossOnDerivatives $-54.00K USD 1 Quarter
Income tax benefit OtherComprehensiveIncomeLossDerivativesQualifyingAsHedgesTax $20.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent $-34.00K USD 1 Quarter
Comprehensive income attributable to Common Shareholders ComprehensiveIncomeNetOfTax $2.54M USD 1 Quarter
Comprehensive income attributable to Common Shareholders ComprehensiveIncomeNetOfTax $1.78M USD 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Consolidated net income ProfitLoss $2.64M USD 1 Quarter
Consolidated net income ProfitLoss $1.95M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.86M USD 1 Quarter
Depreciation and amortization DepreciationDepletionAndAmortization $1.35M USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $441.00K USD 1 Quarter
Stock-based compensation expense ShareBasedCompensation $441.00K USD 1 Quarter
Tax benefit from stock-based compensation expense ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $505.00K USD 1 Quarter
Tax benefit from stock-based compensation expense ExcessTaxBenefitFromShareBasedCompensationOperatingActivities $1.28M USD 1 Quarter
Increase in long-term receivable IncreaseDecreaseInLongTermReceivablesCurrent $-200.00K USD 1 Quarter
Loss on disposal of property and equipment GainLossOnDispositionOfProperty $180.00K USD 1 Quarter
Deferred taxes DeferredIncomeTaxExpenseBenefit $869.00K USD 1 Quarter
Deferred taxes DeferredIncomeTaxExpenseBenefit $-299.00K USD 1 Quarter
Change in investment in non-public company (fair market value) FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInInvestmentIncome $1.40M USD 1 Quarter
Change in investment in non-public company (fair market value) FairValueAssetsMeasuredOnRecurringBasisChangeInUnrealizedGainLossIncludedInInvestmentIncome $52.00K USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInReceivables $1.29M USD 1 Quarter
Accounts receivable, net IncreaseDecreaseInReceivables $1.66M USD 1 Quarter
Accounts receivable, related party IncreaseDecreaseInDueFromRelatedParties $40.00K USD 1 Quarter
Accounts receivable, related party IncreaseDecreaseInDueFromRelatedParties $55.00K USD 1 Quarter
Income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $236.00K USD 1 Quarter
Income taxes receivable IncreaseDecreaseInIncomeTaxesReceivable $1.33M USD 1 Quarter
Inventories, net IncreaseDecreaseInInventories $-1.53M USD 1 Quarter
Inventories, net IncreaseDecreaseInInventories $533.00K USD 1 Quarter
Issuance of notes and advances receivable IncreaseDecreaseInNotesReceivables $-752.00K USD 1 Quarter
Collection of notes and advances receivable ProceedsFromCollectionOfNotesReceivable $5.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $-260.00K USD 1 Quarter
Prepaid expenses and other current assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets $195.00K USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $4.08M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $1.41M USD 1 Quarter
Related party accounts payable IncreaseDecreaseInAccountsPayableRelatedParties $71.00K USD 1 Quarter
Related party accounts payable IncreaseDecreaseInAccountsPayableRelatedParties $-243.00K USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-456.00K USD 1 Quarter
Accrued compensation IncreaseDecreaseInEmployeeRelatedLiabilities $-1.82M USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInAccruedLiabilities $276.00K USD 1 Quarter
Other accrued liabilities IncreaseDecreaseInAccruedLiabilities $-1.44M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $-1.51M USD 1 Quarter
Deferred revenue IncreaseDecreaseInDeferredRevenue $364.00K USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $4.36M USD 1 Quarter
Net cash provided by operating activities NetCashProvidedByUsedInOperatingActivities $5.08M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $2.03M USD 1 Quarter
Purchases of property and equipment PaymentsToAcquirePropertyPlantAndEquipment $1.56M USD 1 Quarter
Purchase of marketable securities PaymentsToAcquireMarketableSecurities $18.16M USD 1 Quarter
Purchase of marketable securities PaymentsToAcquireMarketableSecurities $756.00K USD 1 Quarter
Proceeds from maturities of marketable securities ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities $14.18M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-5.55M USD 1 Quarter
Net cash used in investing activities NetCashProvidedByUsedInInvestingActivities $-2.79M USD 1 Quarter
Proceeds from sale of common stock ProceedsFromIssuanceOfCommonStock $202.00K USD 1 Quarter
Taxes paid by Company for stock swaps and RSUs PaymentsRelatedToTaxWithholdingForShareBasedCompensation $49.00K USD 1 Quarter
Taxes paid by Company for stock swaps and RSUs PaymentsRelatedToTaxWithholdingForShareBasedCompensation $25.00K USD 1 Quarter
Tax benefit from stock-based compensation expense ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $505.00K USD 1 Quarter
Tax benefit from stock-based compensation expense ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $1.28M USD 1 Quarter
Earn out payment from Lifecore acquisition EarnOutPaymentFromAcquisition $9.65M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $1.00M USD 1 Quarter
Payments on long-term debt RepaymentsOfLongTermDebt $1.37M USD 1 Quarter
Payments on lines of credit RepaymentsOfLinesOfCredit $4.17M USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherNoncurrentAssets $-99.00K USD 1 Quarter
Decrease in other assets IncreaseDecreaseInOtherNoncurrentAssets $-43.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $298.00K USD 1 Quarter
Net cash (used in) provided by financing activities NetCashProvidedByUsedInFinancingActivities $-14.43M USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-893.00K USD 1 Quarter
Net decrease in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-12.13M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $22.18M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $8.13M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $7.24M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValue $10.05M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $22.18M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $8.13M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $7.24M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValue $10.05M USD Point-in-time
Long-term receivable from Monsanto LongtermReceivableFromMonsantoForGuaranteedTerminationFee $200.00K USD 1 Quarter
Unrealized (gain) loss from interest rate swap UnrealizedGainLossOnInterestRateCashFlowHedgesPretaxAccumulatedOtherComprehensiveIncomeLoss $34.00K USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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