Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of material science company Landec (NASDAQ:LNDC) dropped as much as 13% today after the company reported fiscal first quarter earnings.  

So what: Revenue rose 7% to $109.5 million, which topped Wall Street expectations of $108.6 million. The problem is that not enough of that extra revenue flowed to the bottom line and net income only rose 9% to $4.8 million, or $0.18 per share, versus an expectation of $0.23.  

Now what: Management said that about $0.06 per share, or the entire earnings miss, was shifted from the first quarter to later in the year in relation to its Windset investment. I don't think this miss really changes the long-term investment thesis, especially when you consider the strong revenue figure. If you've been eyeing shares I think today is the perfect buying opportunity, especially for a company trading at just 11.5 times forward estimates.

Think long term
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