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Note 11 - Business Segment Reporting
 12 Months Ended
May. 31, 2015
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]
 
11.    
Business Segment Reporting
 
The Company manages its business operations through three strategic business units. Based upon the information reported to the chief operating decision maker, who is the Chief Executive Officer, the Company has the following reportable segments
: the Food Products Technology segment, the Food Export segment and the Hyaluronan-based Biomaterials segment.
 
The Food Products Technology segment markets and packs specialty packaged whole and fresh-cut fruit and vegetables, the majority of which incorporate the BreatheWay specialty packaging for the retail grocery, club store and food services industry. In addition, the Food Products Technology segment sells BreatheWay packaging to partners for non-vegetable products. The Food Export segment consists of revenues generated from the purchase and sale of primarily whole commodity fruit and vegetable products to Asia and domestically. The HA-based Biomaterials segment sells products utilizing hyaluronan, a naturally occurring polysaccharide that is widely distributed in the extracellular matrix of connective tissues in both animals and humans, for medical use primarily in the Ophthalmic, Orthopedic and Veterinary markets. Corporate licenses Landec’s patented Intellicoat seed coatings to the farming industry and licenses the Company’s Intelimer polymers for personal care products and other industrial products. The Corporate segment also includes general and administrative expenses, non-Food Products Technology and non HA-based Biomaterials interest income and income tax expenses. Beginning in fiscal year 2013, the Food Products Technology, the Food Export and the Hyaluronan-based Biomaterials segments include charges for corporate services and tax sharing allocated from the Corporate segment. All of the assets of the Company are located within the United States of America.
 
The Company’s international sales by geography are based on the billing address of the customer and were as follows (in millions):
 
   
May 31, 2015
    
May 25, 2014
    
May 26, 2013
  
Canada
   $ 79.7     $ 46.6     $ 27.8  
Taiwan
   $ 32.1     $ 30.7     $ 31.0  
Indonesia
   $ 9.0     $ 9.6     $ 21.0  
China
   $ 9.0     $ 8.2     $ 5.0  
Japan
   $ 8.5     $ 9.9     $ 10.6  
Belgium
   $ 6.8     $ 13.1     $ 16.6  
All Other Countries
   $ 18.4     $ 19.1     $ 20.8  
 
Operations by segment consisted of the following (in thousands):
 
 
    Food Products           Hyaluronan-based              
Fiscal Year Ended May 31, 2015
  
Technology
    
Food Export
    
Biomaterials
    
Corporate
    
TOTAL
  
Net sales
   $ 430,415     $ 67,837     $ 40,432     $ 573     $ 539,257  
International sales
   $ 80,500     $ 67,714     $ 15,246     $ —     $ 163,460  
Gross profit
   $ 45,993     $ 4,252     $ 14,609     $ 553     $ 65,407  
Net income (loss)
   $ 17,145     $ 1,041     $ 3,838     $ (8,480 )   $ 13,544  
Identifiable assets
   $ 228,672     $ 27,746     $ 85,779     $ 4,268     $ 346,465  
Depreciation and amortization
   $ 4,766     $ 6     $ 2,184     $ 134     $ 7,090  
Capital expenditures
   $ 12,895     $ —     $ 4,499     $ 117     $ 17,511  
Dividend income
   $ 1,417     $ —     $ —     $ —     $ 1,417  
Interest income
   $ 32     $ —     $ 254     $ 29     $ 315  
Interest expense
   $ 1,655     $ —     $ 174     $ —     $ 1,829  
Income tax expense
  $ 792     $ 48     $ 177     $ 6,729     $ 7,746  
                                         
Fiscal Year Ended May 25, 2014
                                        
Net sales
   $ 360,728     $ 69,827     $ 45,704     $ 554     $ 476,813  
International sales
   $ 47,224     $ 69,710     $ 20,312     $ —     $ 137,246  
Gross profit
   $ 36,318     $ 5,340     $ 20,456     $ 450     $ 62,564  
Net income (loss)
   $ 19,041     $ 1,973     $ 9,695     $ (11,564 )   $ 19,145  
Identifiable assets
   $ 196,257     $ 25,391     $ 85,858     $ 6,117     $ 313,623  
Depreciation and amortization
   $ 4,751     $ 6     $ 2,221     $ 136     $ 7,114  
Capital expenditures
   $ 10,950     $ —     $ 3,877     $ 59     $ 14,886  
Dividend income
   $ 1,125     $ —     $ —     $ —     $ 1,125  
Interest income
   $ 12     $ —     $ 242     $ 6     $ 260  
Interest expense
   $ 1,402     $ —     $ 248     $ —     $ 1,650  
Income tax expense
  $ 33     $ 3     $ 17     $ 10,530     $ 10,583  
                                         
Fiscal Year Ended May 26, 2013
                                        
Net sales
   $ 320,447     $ 78,568     $ 41,281     $ 1,412     $ 441,708  
International sales
   $ 27,532     $ 78,442     $ 26,792     $ —     $ 132,766  
Gross profit
   $ 37,077     $ 5,274     $ 19,102     $ 1,307     $ 62,760  
Net income (loss)
   $ 20,526     $ 1,660     $ 6,835     $ (6,434 )   $ 22,587  
Identifiable assets
   $ 180,104     $ 21,737     $ 80,940     $ 8,161     $ 290,942  
Depreciation and amortization
   $ 4,761     $ 4     $ 2,379     $ 151     $ 7,295  
Capital expenditures
   $ 5,598     $ —     $ 3,190     $ 89     $ 8,877  
Dividend income
   $ 1,125     $ —     $ —     $ —     $ 1,125  
Interest income
   $ 42     $ —     $ 137     $ —     $ 179  
Interest expense
   $ 1,707     $ —     $ 301     $ —     $ 2,008  
Income tax expense
  $ 3,399     $ 339     $ 1,400     $ 4,314     $ 9,452