Lifecore Biomedical (LFCR) 10-K 31 Jul 15 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	Jul. 17, 2015	Nov. 30, 2014
Entity Registrant Name	LANDEC CORP \CA\
Entity Central Index Key	1,005,286
Current Fiscal Year End Date	--05-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		27,009,342
Entity Public Float			$ 344,754
Document Type	10-K
Document Period End Date	May 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	May. 31, 2015	May. 25, 2014
Current assets:
Cash and cash equivalents	$ 14,127	$ 14,243
Accounts receivable, less allowance for doubtful accounts of $382 and $516 at May 31, 2015 and May 25, 2014, respectively	46,173	44,421
Accounts receivable, related party	306	304
Income taxes receivable	152	2,000
Inventories, net	25,027	24,735
Deferred taxes	2,111	2,056
Prepaid expenses and other current assets	5,306	3,170
Total current assets	$ 93,202	90,929
Investment in non-public company, non-fair value		793
Investment in non-public company, fair value	$ 61,500	39,600
Property and equipment, net	84,465	74,140
Goodwill, net	49,620	49,620
Trademarks/ trade names, net	48,428	48,428
Customer relationships, net	7,835	8,720
Other assets	1,415	1,393
Total Assets	346,465	313,623
Current liabilities:
Accounts payable	34,765	31,981
Accounts payable, related party	244	$ 134
Income taxes payable	1,229
Accrued compensation	6,742	$ 4,096
Other accrued liabilities	3,983	4,871
Deferred revenue	843	1,254
Current portion of long-term debt	8,353	6,055
Total current liabilities	56,159	48,391
Long-term debt	34,166	28,317
Deferred taxes	34,340	30,133
Other non-current liabilities	1,691	2,021
Total liabilities	$ 126,356	$ 108,862
Commitments and contingencies (Note 9)
Stockholders’ equity:
Common stock, $0.001 par value; 50,000,000 shares authorized; 26,990,490 and 26,815,253 shares issued and outstanding at May 31, 2015 and May 25, 2014, respectively	$ 27	$ 27
Additional paid-in capital	133,307	131,488
Retained earnings	85,098	71,554
Total stockholders’ equity	218,432	203,069
Non-controlling interest	1,677	1,692
Total Equity	220,109	204,761
Total Liabilities and Stockholders’ Equity	$ 346,465	$ 313,623

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	May. 31, 2015	May. 25, 2014
Allowance for doubtful accounts	$ 382	$ 516
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	26,990,490	26,815,253
Common stock, shares outstanding (in shares)	26,990,490	26,815,253

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Product sales	$ 539,257	$ 476,813	$ 441,708
Cost of product sales	473,850	414,249	378,948
Gross profit	65,407	62,564	62,760
Operating costs and expenses:
Research and development	6,988	7,204	9,294
Selling, general and administrative	$ 39,958	$ 35,170	32,531
Other operating expenses			(3,933)
Total operating costs and expenses	$ 46,946	$ 42,374	37,892
Operating income	18,461	20,190	24,868
Dividend income	1,417	1,125	1,125
Interest income	315	260	179
Interest expense	(1,829)	(1,650)	(2,008)
Other income	3,107	10,000	8,100
Net income before taxes	21,471	29,925	32,264
Income tax expense	(7,746)	(10,583)	(9,452)
Consolidated net income	13,725	19,342	22,812
Non-controlling interest	(181)	(197)	(225)
Net income and comprehensive income applicable to common stockholders	$ 13,544	$ 19,145	$ 22,587
Basic net income per share (in dollars per share)	$ 0.50	$ 0.72	$ 0.87
Diluted net income per share (in dollars per share)	$ 0.50	$ 0.71	$ 0.85
Shares used in per share computation:
Basic (in shares)	26,884	26,628	25,830
Diluted (in shares)	27,336	27,120	26,626

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Parent [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at May. 27, 2012	25,644,580
Balance at May. 27, 2012	$ 26	$ 119,894	$ 29,822	$ 149,742	$ 1,816
Issuance of common stock, net of taxes paid by Landec on behalf of employees (in shares)	597,537
Issuance of common stock, net of taxes paid by Landec on behalf of employees		3,416		3,416
Issuance of common stock for vested restricted stock units (in shares)	160,130
Taxes paid by Company for stock swaps and RSUs		(49)		(49)
Stock-based compensation		1,695		1,695
Tax benefit from stock-based compensation expense		1,302		1,302
Non-controlling interest					225
Payments to non-controlling interest					(320)
Net and comprehensive income			22,587	22,587
Balance (in shares) at May. 26, 2013	26,402,247
Balance at May. 26, 2013	$ 26	126,258	52,409	178,693	1,721
Issuance of common stock, net of taxes paid by Landec on behalf of employees (in shares)	372,852
Issuance of common stock, net of taxes paid by Landec on behalf of employees	$ 1	2,297		2,298
Issuance of common stock for vested restricted stock units (in shares)	40,154
Taxes paid by Company for stock swaps and RSUs		(345)		(345)
Stock-based compensation		1,356		1,356
Tax benefit from stock-based compensation expense		1,922		1,922
Non-controlling interest					197
Payments to non-controlling interest					(226)
Net and comprehensive income			19,145	19,145
Balance (in shares) at May. 25, 2014	26,815,253
Balance at May. 25, 2014	$ 27	131,488	71,554	203,069	1,692	$ 204,761
Issuance of common stock, net of taxes paid by Landec on behalf of employees (in shares)	102,745
Issuance of common stock, net of taxes paid by Landec on behalf of employees		122		122
Issuance of common stock for vested restricted stock units (in shares)	72,492
Taxes paid by Company for stock swaps and RSUs		(343)		(343)
Stock-based compensation		1,577		1,577
Tax benefit from stock-based compensation expense		463		463
Non-controlling interest					181
Payments to non-controlling interest					(196)
Net and comprehensive income			13,544	13,544
Balance (in shares) at May. 31, 2015	26,990,490
Balance at May. 31, 2015	$ 27	$ 133,307	$ 85,098	$ 218,432	$ 1,677	$ 220,109

Consolidated Statements of Cha6

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares	May. 31, 2015	May. 25, 2014	May. 26, 2013
Minimum [Member] | Parent [Member]
Issuance of common stock, price per share (in dollars per share)	$ 5.63	$ 5.63	$ 1.66
Maximum [Member] | Parent [Member]
Issuance of common stock, price per share (in dollars per share)	$ 8.19	$ 13.32	$ 13.22

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Consolidated net income	$ 13,725,000	$ 19,342,000	$ 22,812,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,090,000	7,114,000	7,295,000
Stock-based compensation expense	1,577,000	1,356,000	1,695,000
Deferred taxes	4,152,000	5,585,000	6,606,000
Change in investment in non-public company , fair value	(3,900,000)	(10,000,000)	(8,100,000)
Tax benefit from stock based compensation	(463,000)	$ (1,922,000)	$ (1,302,000)
Impairment of non-public company, non-fair value investment	793,000
Net loss (gain) on disposal of property and equipment	$ (90,000)	$ 329,000	$ 217,000
Earn out liability			(3,933,000)
Changes in assets and liabilities, net of effects from acquisitions:
Accounts receivable, net	$ (1,752,000)	$ (7,994,000)	(4,121,000)
Accounts receivable, related party	(2,000)	12,000	(348,000)
Income taxes receivable	2,313,000	5,025,000	(3,754,000)
Inventories, net	(292,000)	(622,000)	(2,102,000)
Issuance of notes and advances receivable	(5,691,000)	(4,763,000)	(4,173,000)
Collection of notes and advances receivable	5,730,000	4,481,000	4,173,000
Prepaid expenses and other current assets	(2,175,000)	(32,000)	(278,000)
Accounts payable	2,784,000	(50,000)	8,826,000
Accounts payable, related party	110,000	$ (91,000)	$ 10,000
Income taxes payable	1,229,000
Accrued compensation	2,646,000	$ 38,000	$ (798,000)
Other accrued liabilities	(1,218,000)	3,211,000	(2,486,000)
Deferred revenue	(411,000)	6,000	1,086,000
Net cash provided by operating activities	26,155,000	21,045,000	21,230,000
Cash flows from investing activities:
Purchases of property and equipment	(17,511,000)	$ (14,886,000)	$ (8,877,000)
Investment in non-public company, fair value	(18,000,000)
Proceeds from sale of fixed assets	$ 1,071,000
Purchase of marketable securities		$ (1,417,000)	$ (4,959,000)
Proceeds from maturities of marketable securities		2,962,000	3,414,000
Net cash used in investing activities	$ (34,440,000)	(13,341,000)	(10,422,000)
Cash flows from financing activities:
Proceeds from sale of common stock	122,000	2,298,000	3,416,000
Taxes paid by Company for stock swaps and RSUs	(343,000)	(1,271,000)	(49,000)
Tax benefit from stock-based compensation expense	$ 463,000	$ 1,922,000	1,302,000
Earn out payment from Lifecore acquisition			(9,650,000)
Net change in other assets/liabilities	$ (24,000)	$ 31,000	$ 712,000
Proceeds from long term debt	15,014,000
Payments on long term debt	(6,867,000)	$ (5,933,000)	$ (7,012,000)
Proceeds from lines of credit	30,417,000	9,500,000
Payments on lines of credit	(30,417,000)	(13,500,000)	$ (7,666,000)
Payments to non-controlling interest.	(196,000)	(226,000)	(320,000)
Net cash (used in) provided by financing activities	8,169,000	(7,179,000)	(19,267,000)
Net increase (decrease) in cash and cash equivalents	(116,000)	525,000	(8,459,000)
Cash and cash equivalents at beginning of year	14,243,000	13,718,000	22,177,000
Cash and cash equivalents at end of year	14,127,000	14,243,000	13,718,000
Supplemental disclosure of cash flows information:
Cash paid during the period for interest	1,994,000	1,504,000	1,728,000
Cash paid during the period for income taxes, net of refunds received	$ 150,000	$ 50,000	$ 5,605,000

Note 1 - Organization, Basis of

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block]	1. Organization, Basis of Presentation, and Summary of Significant Accounting Policies Organization Landec Corporation and its subsidiaries (“Landec” or the “Company”) design, develop, manufacture and sell differentiated products for food and biomaterials markets and license technology applications to partners. The Company has two proprietary polymer technology platforms: 1) Intelimer® polymers, and 2) hyaluronan (“HA”) biopolymers. The Company’s HA biopolymers are proprietary in that they are specially formulated for specific customers to meet strict regulatory requirements. The Company’s polymer technologies, along with its customer relationships and trade names, are the foundation, and a key differentiating advantage upon which Landec has built its business. The Company sells specialty packaged branded Eat Smart® and GreenLine® and private label fresh-cut vegetables and whole produce to retailers, club stores and foodservice operators, primarily in the United States, Canada and Asia through its Apio, Inc. (“Apio”) subsidiary and sells HA-based biomaterials through its Lifecore Biomedical, Inc. (“Lifecore”) subsidiary. Basis of Presentation Basis of Consolidation The consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles and include the accounts of Landec Corporation and its subsidiaries, Apio and Lifecore. All material inter-company transactions and balances have been eliminated. Arrangements that are not controlled through voting or similar rights are reviewed under the guidance for variable interest entities (“VIEs”). A company is required to consolidate the assets, liabilities and operations of a VIE if it is determined to be the primary beneficiary of the VIE. An entity is a VIE and subject to consolidation, if by design: a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by any parties, including equity holders or b) as a group the holders of the equity investment at risk lack any one of the following three characteristics: (i) the power, through voting rights or similar rights to direct the activities of an entity that most significantly impact the entity’s economic performance, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity. The Company reviewed the consolidation guidance and concluded that the partnership interest and equity investment in non-public companies by the Company are not VIEs. Summary of Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make certain estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates that require management’s most significant and subjective judgments include revenue recognition; sales returns and allowances; self insurance liabilities; recognition and measurement of current and deferred income tax assets and liabilities; the assessment of recoverability of long-lived assets; the valuation of intangible assets and inventory; the valuation of investments; and the valuation and recognition of stock-based compensation. These estimates involve the consideration of complex factors and require management to make judgments. The analysis of historical and future trends can require extended periods of time to resolve and are subject to change from period to period. The actual results may differ from management’s estimates. Concentrations of Risk Cash and cash equivalents, marketable securities, trade accounts receivable, grower advances and notes receivable are financial instruments that potentially subject the Company to concentrations of credit risk. Our Company policy limits, among other things, the amount of credit exposure to any one issuer and to any one type of investment, other than securities issued or guaranteed by the U.S. government. The Company routinely assesses the financial strength of customers and growers and, as a consequence, believes that trade receivables, grower advances and notes receivable credit risk exposure is limited. Credit losses for bad debt are provided for in the consolidated financial statements through a charge to operations. A valuation allowance is provided for known and anticipated credit losses. The recorded amounts for these financial instruments approximate their fair value. Several of the raw materials we use to manufacture our products are currently purchased from a single source, including some monomers used to synthesize Intelimer polymers, substrate materials for our breathable membrane products and raw materials for our HA products. The operations of Windset, in which the Company holds a 26.9% minority investment, are predominantly located in British Columbia and Santa Maria, California. Routinely, the Company evaluates the financial strength and ability for Windset to continue as a going concern. During the fiscal year ended May 31, 2015, sales to the Company’s top five customers accounted for approximately 46% of total revenue with the top two customers from the Food Products Technology segment, Costco Wholesale Corporation (“Costco”) and Wal-mart, Inc. (“Wal-mart”) accounting for approximately 21% and 11%, respectively, of total revenues. In addition, approximately 30% of the Company’s total revenues were derived from product sales to international customers, none of which individually accounted for more than 5% of total revenues. As of May 31, 2015, the top two customers, Costco and Wal-mart represented approximately 15% and 13%, respectively, of total accounts receivable. During the fiscal year ended May 25, 2014, sales to the Company’s top five customers accounted for approximately 42% of total revenue with the top two customers from the Food Products Technology segment, Costco Wholesale Corporation and Wal-mart, Inc. accounting for approximately 21% and 11%, respectively, of total revenues. In addition, approximately 29% of the Company’s total revenues were derived from product sales to international customers, none of which individually accounted for more than 5% of total revenues. As of May 25, 2014, the top two customers, Costco Wholesale Corporation and Wal-mart, Inc. represented approximately 16% and 12%, respectively, of total accounts receivable. Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Recoverability of assets is measured by comparison of the carrying amount of the asset to the net undiscounted future cash flow expected to be generated from the asset. If the future undiscounted cash flows are not sufficient to recover the carrying value of the assets, the assets’ carrying value is adjusted to fair value. The Company regularly evaluates its long-lived assets for indicators of possible impairment. Financial Instruments their carrying value. Fair values for long-term financial instruments not readily marketable are estimated based upon discounted future cash flows at prevailing market interest rates. Based on these assumptions, management believes the fair market values of the Company’s financial instruments are not significantly different from their recorded amounts as of May 31, 2015 and May 25, 2014. Accounts Receivable and Sales Returns and Allowance for Doubtful Accounts The Company carries its accounts receivable at their face amounts less an allowance for estimated sales returns and doubtful accounts. Sales return allowances are estimated based on historical sales return amounts. Further, on a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts and estimated losses resulting from the inability of its customers to make required payments. The allowance for doubtful accounts is determined based on review of the overall condition of accounts receivable balances and review of significant past due accounts. The allowance for doubtful accounts is based on specific identification of past due amounts and for accounts over 90-days past due. The changes in the Company’s allowance for sales returns and doubtful accounts are summarized in the following table (in thousands). Balance at beginning of period Additions from acquisitions and adjustments charged to revenue and expenses Write offs, net of recoveries Balance at end of period Year ended May 26, 2013 $ 512 $ 109 $ (38 ) $ 583 Year ended May 25, 2014 $ 583 $ 143 $ (210 ) $ 516 Year ended May 31, 2015 $ 516 $ — $ (134 ) $ 382 Revenue Recognition Revenue from product sales is recognized when there is persuasive evidence that an arrangement exists, title has transferred, the price is fixed and determinable, and collectability is reasonably assured. Allowances are established for estimated uncollectible amounts, product returns, and discounts based on specific identification and historical losses. Apio’s Food Products Technology revenues generally consist of revenues generated from the sale of specialty packaged fresh-cut and whole value-added processed vegetable products that are generally washed and packaged in our proprietary packaging and sold under Apio’s Eat Smart and GreenLine brands and various private labels. Revenue is generally recognized upon shipment of these products to customers. The Company takes title to all produce it trades and/or packages, and therefore, records revenues and cost of sales at gross amounts in the Consolidated Statements of Comprehensive Income. In addition, Food Products Technology value-added revenues include the revenues generated from Apio Cooling, LP, a vegetable cooling operation in which Apio is the general partner with a 60% ownership position and from the sale of BreatheWay® packaging to license partners. Revenue is recognized on the vegetable cooling operations as cooling and storage services are provided to our customers. Sales of BreatheWay packaging are recognized when shipped to our customers. Apio’s Food Export revenues consist of revenues generated from the purchase and sale of primarily whole commodity fruit and vegetable products to Asia by Cal-Ex. As most Cal-Ex customers are in countries outside of the U.S., title transfers and revenue is generally recognized upon arrival of the shipment in the foreign port. Apio records revenue equal to the sale price to third parties because it takes title to the product while in transit. Our HA-based Biomaterials business principally generates revenue through the sale of products containing HA. Lifecore primarily sells products to customers in three medical areas: (1) Ophthalmic, which represented approximately 60% of Lifecore’s revenues in fiscal year 2015, (2) Orthopedic, which represented approximately 20% of Lifecore’s revenues in fiscal year 2015 and (3) Veterinary/Other. The vast majority of revenues from our HA-based Biomaterials business are recognized upon shipment. Lifecore’s business development revenues, a portion of which are included in all three medical areas, are related to contract research and development (R&D) services and multi-element arrangement services with customers where the Company provides products and/or services in a bundled arrangement. Contract R&D revenue is recorded as earned, based on the performance requirements of the contract. Non-refundable contract fees for which no further performance obligations exist, and there is no continuing involvement by the Company, are recognized on the earlier of when the payment is received or collection is assured. For sales arrangements that contain multiple elements, the Company splits the arrangement into separate units of accounting if the individually delivered elements have value to the customer on a standalone basis. The Company also evaluates whether multiple transactions with the same customer or related party should be considered part of a multiple element arrangement, whereby the Company assesses, among other factors, whether the contracts or agreements are negotiated or executed within a short time frame of each other or if there are indicators that the contracts are negotiated in contemplation of each other. The Company then allocates revenue to each element based on a selling price hierarchy. The relative selling price for a deliverable is based on its vendor-specific objective evidence (VSOE), if available, third-party evidence (TPE), if VSOE is not available, or estimated selling price, if neither VSOE nor TPE is available. The Company then recognizes revenue on each deliverable in accordance with its policies for product and service revenue recognition. The Company is not typically able to determine VSOE or TPE, and therefore, uses the estimated selling price to allocate revenue between the elements of an arrangement. The Company limits the amount of revenue recognition for delivered elements to the amount that is not contingent on the future delivery of products or services or future performance obligations or subject to customer-specific cancellation rights. The Company evaluates each deliverable in an arrangement to determine whether it represents a separate unit of accounting. A deliverable constitutes a separate unit of accounting when it has stand-alone value, and for an arrangement that includes a general right of return relative to the delivered products or services, delivery or performance of the undelivered product or service is considered probable and is substantially controlled by the Company. The Company considers a deliverable to have stand-alone value if the product or service is sold separately by the Company or another vendor or could be resold by the customer. Further, the revenue arrangements generally do not include a general right of return relative to delivered products. Where the aforementioned criteria for a separate unit of accounting are not met, the deliverable is combined with the undelivered element(s) and treated as a single unit of accounting for the purposes of allocation of the arrangement consideration and revenue recognition. The Company allocates the total arrangement consideration to each separable element of an arrangement based upon the relative selling price of each element. Allocation of the consideration is determined at arrangement inception on the basis of each unit’s relative selling price. In instances where the Company has not established fair value for any undelivered element, revenue for all elements is deferred until delivery of the final element is completed and all recognition criteria are met. Licensing revenue is recognized in accordance with prevailing accounting guidance. Initial license fees are deferred and amortized to revenue over the period of the agreement when a contract exists, the fee is fixed and determinable, and collectability is reasonably assured. Noncancellable, nonrefundable license fees are recognized over the period of the agreement, including those governing research and development activities and any related supply agreement entered into concurrently with the license when the risk associated with commercialization of a product is non-substantive at the outset of the arrangement. From time to time, the Company offers customers sales incentives, which include volume rebates and discounts. These amounts are estimated on a quarterly basis and recorded as a reduction of revenue. A summary of revenues by type of revenue arrangement as described above is as follows (in thousands): Year ended May 31 , 201 5 Year ended May 25 , 201 4 Year ended May 26 , 201 3 Recorded upon shipment $ 465,484 $ 398,938 $ 359,518 Recorded upon acceptance in foreign port 67,714 69,710 78,442 Revenue from multiple element arrangements 4,253 6,811 1,773 Revenue from license fees, R&D contracts and royalties/profit sharing 1,806 1,354 1,975 Total $ 539,257 $ 476,813 $ 441,708 Shipping and Handling Costs Amounts billed to third-party customers for shipping and handling are included as a component of revenues. Shipping and handling costs incurred are included as a component of cost of products sold and represent costs incurred to ship product from the sourcing locations to the end consumer markets. Other Accounting Policies and Disclosures Cash and Cash Equivalents The Company records all highly liquid securities with three months or less from date of purchase to maturity as cash equivalents. Cash equivalents consist mainly of certificate of deposits (CDs), money market funds and U.S. Treasuries. The market value of cash equivalents approximates their historical cost given their short-term nature. Inventories Inventories are stated at the lower of cost (using the first-in, first-out method) or market. As of May 31, 2015 and May 25, 2014 inventories consisted of (in thousands): May 31, 2015 May 25, 2014 Finished goods $ 13,271 $ 11,111 Raw materials 9,879 10,376 Work in progress 1,877 3,248 Inventories, net $ 25,027 $ 24,735 If the cost of the inventories exceeds their net realizable value, provisions are recorded currently to reduce them to net realizable value. The Company also provides a provision for slow moving and obsolete inventories based on the estimate of demand for its products. Advertising Expense Notes and Advances Receivable Apio issues notes and makes advances to produce growers for their crop and harvesting costs primarily for the purpose of sourcing crops for Apio's business. Notes receivable and advances are generally recovered during the growing season (less than one year) using proceeds from the crops sold to Apio. Notes are interest bearing obligations, evidenced by contracts and notes receivable. These notes and advances receivable are secured by perfected liens on crops, have terms that range from three to nine months, and are reviewed at least quarterly for collectability. A reserve is established for any note or advance deemed to not be fully collectible based upon an estimate of the crop value or the fair value of the security for the note or advance. There were no notes or advances outstanding at May 31, 2015. Related Party Transactions The Company sold products to and earned license fees from Windset Holding 2010 Ltd., a Canadian corporation (“Windset”) during the last three fiscal years. During fiscal years 2015, 2014 and 2013, the Company recognized related party revenues of $537,000, $365,000, and $316,000, respectively. These amounts have been included in product sales in the accompanying Consolidated Statements of Comprehensive Income, from the sale of products to and license fees from Windset. The related receivable balances of $306,000 and $304,000 from Windset are included in accounts receivable, related party in the accompanying Consolidated Balance Sheets as of May 31, 2015 and May 25, 2014, respectively. Additionally, unrelated to the revenue transactions above, the Company purchases produce from Windset for sale to third parties. During fiscal years 2015, 2014 and 2013, the Company recognized related party cost of product sales of $1.6 million, $1.6 million and $2.1 million, respectively, in the accompanying Consolidated Statements of Comprehensive Income, from the sale of products purchased from Windset. The related accounts payable of $244,000 and $134,000 from Windset are included in accounts payable, related party in the accompanying Consolidated Balance Sheets as of May 31, 2015 and May 25, 2014, respectively. All related party transactions are monitored quarterly by the Company and approved by the Audit Committee of the Board of Directors. Property and Equipment Property and equipment are stated at cost. Expenditures for major improvements are capitalized while repairs and maintenance are charged to expense. Depreciation is expensed on a straight-line basis over the estimated useful lives of the respective assets, generally three to forty years for buildings and leasehold improvements and three to twenty years for furniture and fixtures, computers, capitalized software, capitalized leases, machinery, equipment and autos. Leasehold improvements are amortized on a straight-line basis over the lesser of the economic life of the improvement or the life of the lease. The Company capitalizes software development costs for internal use in accordance with accounting guidance. Capitalization of software development costs begins in the application development stage and ends when the asset is placed into service. The Company amortizes such costs using the straight-line basis over estimated useful lives of three to seven years. During fiscal years 2015 and 2014, the Company capitalized $509,000 and $913,000 in software development costs, respectively. During fiscal year 2013, the Company did not capitalize any software development costs. Long-Lived Assets The Company’s Long-Lived Assets consist of property, plant and equipment, and intangible assets. Intangible assets are comprised of customer relationships with an estimated useful life of twelve to thirteen years (the “finite-lived intangible assets”) and trademarks/trade names and goodwill with indefinite lives (collectively, “the indefinite-lived intangible assets”), which the Company recognized in accordance with accounting guidance (i) upon the acquisition of GreenLine Holding Company (“GreenLine”) by Apio in April 2012, (ii) upon the acquisition of Lifecore in April 2010 and (iii) upon the acquisition of Apio in December 1999. Accounting guidance defines goodwill as “the excess of the cost of an acquired entity over the net of the estimated fair values of the assets acquired and the liabilities assumed at date of acquisition.” All intangible assets, including goodwill, associated with the acquisition of Lifecore was allocated to the HA-based Biomaterials reporting unit and the acquisitions of Apio and GreenLine were allocated to the Food Products Technology reporting unit pursuant to accounting guidance based upon the allocation of assets and liabilities acquired and consideration paid for each reporting unit. As of May 31, 2015, the HA-based Biomaterials reporting unit had $13.9 million of goodwill and the Food Products Technology reporting unit had $35.7 million of goodwill. Property, plant and equipment and finite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances occur that indicate that the carrying amount of an asset (or asset group) may not be recoverable. The Company’s impairment review requires significant management judgment including estimating the future success of product lines, future sales volumes, revenue and expense growth rates, alternative uses for the assets and estimated proceeds from the disposal of the assets. The Company conducts quarterly reviews of idle and underutilized equipment, and reviews business plans for possible impairment indicators. Impairment is indicated when the carrying amount of the asset (or asset group) exceeds its estimated future undiscounted cash flows and the impairment is viewed as other than temporary. When impairment is indicated, an impairment charge is recorded for the difference between the asset’s book value and its estimated fair value. Depending on the asset, estimated fair value may be determined either by use of a discounted cash flow model or by reference to estimated selling values of assets in similar condition. The use of different assumptions would increase or decrease the estimated fair value of assets and would increase or decrease any impairment measurement. The Company tests its indefinite-lived intangible assets for impairment at least annually, in accordance with accounting guidance. For all indefinite-lived assets, including goodwill, the Company performs a qualitative analysis in accordance with ASC 350-30-35. Application of the impairment tests for indefinite-lived intangible assets requires significant judgment by management, including identification of reporting units, assignment of assets and liabilities to reporting units, assignment of intangible assets to reporting units, which judgments are inherently uncertain. During the fiscal quarter ended February 23, 2014, the Company voluntarily changed the date of its annual goodwill and indefinite-lived intangible assets impairment testing from the last day of the fiscal month in July to the first day of the fiscal fourth quarter. This voluntary change was preferable under the circumstances as it provides the Company with additional time to complete its annual goodwill and indefinite-lived intangible asset impairment testing in advance of its year-end reporting and results in better alignment with the Company’s strategic planning and forecasting process. This change was not applied retrospectively as it was impracticable to do so because retrospective application would have required application of significant estimates and assumptions with the use of hindsight. Accordingly, the change was applied prospectively. The Company tested its indefinite-lived intangible assets, including goodwill, for impairment as of March 2, 2015 and determined that no adjustments to the carrying values of these assets were necessary as of that date. As a result, it was not necessary to perform the two-step quantitative goodwill impairment test at the time. Subsequent to the 2015 annual impairment test, there have been no significant events or circumstances affecting the valuation of goodwill. As of May 31, 2015, there were no events or changes in circumstances that indicated that the carrying amount of intangible assets may not be recoverable or that goodwill should be tested for impairment. Therefore, there was no impairment to the carrying value of the Company's goodwill. There were no impairment losses for goodwill during fiscal years 2014 and 2013. On a quarterly basis, the Company considers the need to update its most recent annual tests for possible impairment of its indefinite-lived intangible assets, based on management’s assessment of changes in its business and other economic factors since the most recent annual evaluation. Such changes, if significant or material, could indicate a need to update the most recent annual tests for impairment of the indefinite-lived intangible assets during the current period. The results of these tests could lead to write-downs of the carrying values of these assets in the current period. In the annual impairment test, the Company first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In assessing the qualitative factors, management considers the impact of these key factors: macro-economic conditions, industry and market environment, overall financial performance of the Company, cash flow from operating activities, market capitalization and stock price. If management determines as a result of the qualitative assessment that it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, then the quantitative test is required. Otherwise, no further testing is required. In a quantitative test, the Company compares the fair value of indefinite-lived intangible assets to its carrying value including goodwill. The Company determines the fair value using both an income approach and a market approach. Under the income approach, fair value is determined based on estimated future cash flows, discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of the Company and the rate of return an outside investor would expect to earn. Under the market-based approach, information regarding the Company is utilized as well as publicly available industry information to determine earnings multiples that are used to value the Company. If the carrying value of the Company exceeds its fair value, the Company will determine the amount of impairment loss by comparing the implied fair value of goodwill with the carrying value of goodwill. An impairment charge is recognized for the excess of the carrying value of goodwill over its implied fair value. Investment in Non-Public Company In December 2005, Landec entered into a licensing agreement with Aesthetic Sciences for the exclusive rights to use Landec's Intelimer® materials technology for the development of dermal fillers worldwide under the agreement. The Company received shares of preferred stock in exchange for the license. As of March 1, 2015, the Company concluded that its investment in Aesthetic Sciences was other than temporarily impaired, and therefore wrote off its remaining $793,000 investment (see Note 2). On February 15, 2011, the Company made an investment in Windset which is reported as an investment in non-public company, fair value, in the accompanying Consolidated Balance Sheets as of May 31, 2015 and May 25, 2014. The Company has elected to account for its investment in Windset under the fair value option (see Note 2). Partial Self-Insurance on Employee Health Plan The Company provides health insurance benefits to eligible employees under a self-insured plan whereby the Company pays actual medical claims subject to certain stop loss limits. The Company records self-insurance liabilities based on actual claims filed and an estimate of those claims incurred but not reported. Any projection of losses concerning the Company's liability is subject to a high degree of variability. Among the causes of this variability are unpredictable external factors such as inflation rates, changes in severity, benefit level changes, medical costs, and claims settlement patterns. This self-insurance liability is included in accrued liabilities and represents management's best estimate of the amounts that have not been paid as of May 31, 2015. It is reasonably possible that the expense the Company ultimately incurs could differ and adjustments to future reserves may be necessary. Deferred Revenue Cash received in advance of services performed are recorded as deferred revenue. At May 31, 2015, $843,000 was recognized as advances from customers. At May 25, 2014, $1.3 million was recognized as advances from customers. Non-Controlling Interest The Company reports all non-controlling interests as a separate component of stockholders’ equity. The non-controlling interest’s share of the income or loss of the consolidated subsidiary is reported as a separate line item in our Consolidated Statements of Comprehensive Income, following the consolidated net income caption. In connection with the acquisition of Apio, Landec acquired Apio’s 60% general partner interest in Apio Cooling, a California limited partnership. Apio Cooling is included in the consolidated financial statements of Landec for all periods presented. The non-controlling interest balance of $1.7 at both May 31, 2015 and May 25, 2014 was comprised of the non-controlling limited partners’ interest in Apio Cooling. Income Taxes The Company accounts for income taxes in accordance with accounting guidance which requires that deferred tax assets and liabilities be recognized using enacted tax rates for the effect of temporary differences between the book and tax basis of recorded assets and liabilities. The Company maintains valuation allowances when it is likely that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances from period to period are included in the Company’s income tax provision in the period of change. In determining whether a valuation allowance is warranted, the Company takes into account such factors as prior earnings history, expected future earnings, unsettled circumstances that, if unfavorably resolved, would adversely affect utilization of a deferred tax asset, carryback and carryforward periods, and tax strategies that could potentially enhance the likelihood of realization of a deferred tax asset. At May 31, 2015, the Company had a $1.2 million valuation allowance against its deferred tax assets. In addition to valuation allowances, the Company establishes accruals for uncertain tax positions. The tax-contingency accruals are adjusted in light of changing facts and circumstances, such as the progress of tax audits, case law and emerging legislation. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense. The Company’s effective tax rate includes the impact of tax-contingency accruals as considered a

Note 2 - Investments in Non-pub

Note 2 - Investments in Non-public Companies	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Investment Holdings [Text Block]	2 . Investment s in non-public companies Aesthetic Sciences In December 2005, Landec entered into a licensing agreement with Aesthetic Sciences for the exclusive rights to use Landec's Intelimer® materials technology for the development of dermal fillers worldwide under the agreement. The Company received shares of preferred stock in exchange for the license. Aesthetic Sciences sold the rights to its Smartfil Injector System on July 16, 2010. The royalty period from the sale of the Smartfil Injector System began November 1, 2014 and as a result the Company obtained for the first time during the third quarter of fiscal year 2015 financial information for the products for which a royalty is due Aesthetic Sciences. Based on the review of this historical financial information and discussions with the acquirer, the Company concluded that its investment in Aesthetic Sciences was other than temporarily impaired, and therefore wrote off its remaining $793,000 investment in Aesthetic Sciences as of March 1, 2015 and is included in other income in the Consolidated Statements of Comprehensive Income. Windset On February 15, 2011, Apio entered into a share purchase agreement (the “Windset Purchase Agreement”) with Windset. Pursuant to the Windset Purchase Agreement, Apio purchased from Windset 150,000 Senior A preferred shares for $15 million and 201 common shares for $201. On July 15, 2014, Apio increased its investment in Windset by purchasing from the Newell Capital Corporation an additional 68 shares of common stock and 51,211 shares of junior preferred stock of Windset for $11.0 million. After this purchase, the Company’s common shares represent a 26.9% ownership interest in Windset. The non-voting Senior A preferred shares yield a cash dividend of 7.5% annually. The dividend is payable within 90 days of each anniversary of the execution of the Windset Purchase Agreement. The non-voting junior preferred stock does not yield a dividend unless declared by the Board of Directors of Windset and no such dividend has been declared. The Windset Purchase Agreement includes a put and call option, which can be exercised on the sixth anniversary of the Windset Purchase Agreement whereby Apio can exercise the put to sell its common, Senior A preferred shares and junior preferred shares to Windset, or Windset can exercise the call to purchase those shares from Apio, in either case, at a price equal to 26.9% of the appreciation in the fair market value of Windset’s common shares from the date of the Company’s investment through the put and call date, plus the liquidation value of the preferred shares of $20.1 million ($15 million for the Senior A preferred shares and $5.1 million for the junior preferred shares). On October 29, 2014, Apio further increased its investment in Windset by purchasing 70,000 shares of Senior B preferred shares for $7.0 million. The Senior B Preferred Stock pays an annual dividend of 7.5% on the amount outstanding at each anniversary date of the Windset Purchase Agreement. The Senior B shares purchased by Apio have a put feature whereby Apio can sell back to Windset $1.5 million of shares on the first anniversary, an additional $2.75 million of shares on the second anniversary and the remaining $2.75 million on the third anniversary. After the third anniversary, Apio may at any time put any or all of the shares not previously sold back to Windset. At any time on or after February 15, 2017, Windset has the right to call any or all of the outstanding common shares and at such time must also call the same proportion of Senior A preferred shares, Senior B preferred shares and junior preferred shares owned by Apio. Windset’s partial call provision is restricted such that a partial call cannot result in Apio holding less than 10% of Windset’s common shares outstanding. The investment in Windset does not qualify for equity method accounting as the investment does not meet the criteria of in-substance common stock due to returns through the annual dividend on t he non-voting senior preferred shares that are not available to the common stock holders. As the put and call options require the Purchased Shares to be put or called in equal proportions, the Company has deemed that the investment, in substance, should be treated as a single security for purposes of accounting. The Company has adopted fair value option in the accounting for its investment in Windset effective on the acquisition date. The fair value of the Company’s investment in Windset utilizes significant unobservable inputs in the discounted cash flow models, including projected cash flows, growth rates and the discount rate, and is therefore considered a Level 3 for fair value measurement purposes (see Note 1). The Company believes that reporting its investment at fair value provides its investors with useful information on the performance of the Company’s investment and the anticipated appreciation in value as Windset expands its business. The fair value of the Company’s investment in Windset was determined utilizing the Windset Purchase Agreement’s put/call calculation for value and a discounted cash flow model based on projections developed by Windset, and considers the put and call conversion options. These features impact the duration of the cash flows utilized to derive the estimated fair values of the investment. These two discounted cash flow models’ estimate for fair value, which generally approximate a similar result, is then weighted. Assumptions included in these discounted cash flow models will be evaluated quarterly based on Windset’s actual and projected operating results to determine the change in fair value. During the year ended May 31, 2015, the Company recorded $1.4 million in dividends and in fiscal years ended May 25, 2014 and May 26, 2013, the Company recorded $1.1 million in dividend income. In addition, the Company recorded $3.9 million, $10.0 million and $8.1 million of income for fiscal years ended May 31, 2105, May 25, 2014 and May 26, 2013, respectively, which is included in other income in the Consolidated Statements of Comprehensive Income, from the increase in the fair market value of the Company’s investment in Windset. The Company also entered into an exclusive license agreement with Windset, which was executed in June 2010, prior to contemplation of Apio’s investment in Windset.

Note 3 - Property and Equipment

Note 3 - Property and Equipment	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3. Property and Equipment Property and equipment consists of the following (in thousands): Years of Useful Life May 31, 2015 May 25, 2014 Land and building 15- 40 $ 57,426 $ 56,378 Leasehold improvements 3- 20 1,360 1,079 Computer, capitalized software, machinery, equipment and auto 3- 20 68,260 53,715 Furniture and fixtures 3- 7 804 824 Construction in process 6,837 6,975 Gross property and equipment 134,687 118,971 Less accumulated depreciation and amortization (50,222 ) (44,831 ) Net property and equipment $ 84,465 $ 74,140 Depreciation and amortization expense for property and equipment for the fiscal years ended May 31, 2015, May 25, 2014 and May 26, 2013 was $6.2 million, $6.2 million and $6.3 million, respectively. There was no equipment under capital leases at May 31, 2015 or May 25, 2014. Amortization related to capitalized software was $158,000, $189,000 and $160,000 for fiscal years ended May 31, 2015, May 25, 2014 and May 26, 2013, respectively. The unamortized computer software costs as of both May 31, 2015 and May 25, 2014 was $1.1 million.

Note 4 - Intangible Assets

Note 4 - Intangible Assets	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	4. Intangible Assets The carrying amount of goodwill as of May 31, 2015, May 25, 2014 and May 26, 2013 was $35.7 million for the Food Products Technology segment and $13.9 million for the Hyaluronan-based Biomaterials segment. Information regarding Landec’s other intangible assets is as follows (in thousands): Trademarks & Trade names Customer Relationships Total Balance as of May 27, 2012 $ 48,428 $ 10,557 $ 58,985 Amortization expense — (951 ) (951 ) Balance as of May 26, 2013 48,428 9,606 58,034 Amortization expense — (886 ) (886 ) Balance as of May 25, 2014 48,428 8,720 57,148 Amortization expense — (885 ) (885 ) Balance as of May 31, 2015 $ 48,428 $ 7,835 $ 56,263 Accumulated amortization of Trademark and Trade names as of both May 31, 2015 and May 25, 2014 was $872,000. Accumulated amortization of Customer Relationships as of May 31, 2015 and May 25, 2014 was $3.4 million and $2.5 million, respectively. Accumulated impairment losses as of both May 31, 2015 and May 25, 2014 were $4.8 million. Lifecore’s Customer Relationships amount of $3.7 million is being amortized over 12 years and Apio’s customer relationships amount of $7.5 million is being amortized over 13 years. The amortization expense for the next five fiscal years is estimated to be $885,000 per year.

Note 5 - Stockholders' Equity

Note 5 - Stockholders' Equity	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	5. Stockholders’ Equity Holders of Common Stock are entitled to one vote per share. Convertible Preferred Stock The Company has authorized two million shares of preferred stock, and as of May 31, 2015 has no outstanding preferred stock. Common Stock and Stock Option Plans At May 31, 2015, the Company had 881,143 common shares reserved for future issuance under Landec equity incentive plans. On October 10, 2013, following stockholder approval at the Annual Meeting of Stockholders of the Company, the 2013 Stock Incentive Plan (the “Plan”) became effective and replaced the Company’s 2009 Stock Incentive Plan. Employees (including officers), consultants and directors of the Company and its subsidiaries and affiliates are eligible to participate in the Plan. The Plan provides for the grant of stock options (both nonstatutory and incentive stock options), stock grants, stock units and stock appreciation rights. Awards under the Plan will be evidenced by an agreement with the Plan participants and 2.0 million shares of the Company’s Common Stock (“Shares”) were initially available for award under the Plan. Under the Plan, no recipient may receive awards during any fiscal year that exceeds the following amounts: (i) stock options covering in excess of 500,000 Shares; (ii) stock grants and stock units covering in excess of 250,000 Shares in the aggregate; or (iii) stock appreciation rights covering more than 500,000 Shares. In addition, awards to non-employee directors are discretionary. However, a non-employee director may not be granted awards in excess of 30,000 Shares in the aggregate during any fiscal year. The exercise price of the options is the fair market value of the Company’s Common Stock on the date the options are granted. On October 15, 2009, following stockholder approval at the Annual Meeting of Stockholders of the Company, the 2009 Stock Incentive Plan (the “2009 Plan”) became effective and replaced the Company’s 2005 Stock Incentive Plan. Employees (including officers), consultants and directors of the Company and its subsidiaries and affiliates were eligible to participate in the 2009 Plan. The 2009 Plan provided for the grant of stock options (both nonstatutory and incentive stock options), stock grants, stock units and stock appreciation rights. Under the 2009 Plan, 1.9 million Shares were initially available for awards and as of May 31, 2015, 865,834 options to purchase shares and restricted stock units (RSUs) were outstanding. On October 14, 2005, following stockholder approval at the Annual Meeting of Stockholders of the Company, the 2005 Stock Incentive Plan (“2005 Plan”) became effective. The 2005 Plan replaced the Company’s four then existing equity plans and no shares remain available for grant under those plans. Employees (including officers), consultants and directors of the Company and its subsidiaries and affiliates were eligible to participate in the 2005 Plan. The 2005 Plan provided for the grant of stock options (both nonstatutory and incentive stock options), stock grants, stock units and stock appreciation rights. Under the 2005 Plan, 861,038 Shares were initially available for awards, and as of May 31, 2015, 168,550 options to purchase shares were outstanding. The exercise price of the options was the fair market value of the Company’s Common Stock on the date the options were granted. The 1995 Directors’ Stock Option Plan (the “Directors Plan”) provided that each person who became a non- employee director of the Company, who had not received a previous grant, be granted a nonstatutory stock option to purchase 20,000 shares of Common Stock on the date on which the optionee first became a non-employee director of the Company. Thereafter, on the date of each annual meeting of the stockholders each non-employee director was granted an additional option to purchase 10,000 shares of Common Stock if, on such date, he or she had served on the Company’s Board of Directors for at least six months prior to the date of such annual meeting. The exercise price of the options was the fair market value of the Company’s Common Stock on the date the options were granted. Options granted under this plan were exercisable and vested upon grant. Under the Directors Plan, 800,000 Shares were initially available for awards, and as of May 31, 2015, 10,000 options to purchase shares were outstanding. No shares remain available for grant under the Directors’ Plan. Activity under all Landec equity incentive plans is as follows: Stock-Based Compensation Activity Restricted Stock Outstanding Stock Options Outstanding RSUs and Options Available for Grant Number of Restricted Shares Weighted Average Grant Date Fair Value Number of Stock Options Weighted Average Exercise Price Balance at May 27, 2012 449,643 348,166 $ 5.93 2,046,432 $ 6.50 Granted (26,666 ) 6,666 $ 9.01 20,000 $ 9.01 Awarded/Exercised — (231,086 ) $ 5.74 (671,563 ) $ 6.30 Forfeited — (28,416 ) $ 6.20 (44,977 ) $ 6.34 Plan shares expired — — — (10,000 ) $ 13.32 Balance at May 26, 2013 422,977 95,330 $ 6.52 1,339,892 $ 6.58 Additional shares reserved 2,000,000 — — — — Granted (420,131 ) 128,631 $ 14.30 291,500 $ 14.30 Awarded/Exercised — (62,499 ) $ 6.18 (398,080 ) $ 6.45 Forfeited — (12,162 ) $ 8.86 (12,452 ) $ 6.66 Plan shares expired (2,846 ) — — (5,000 ) $ 13.32 Balance at May 25, 2014 2,000,000 149,300 $ 13.17 1,215,860 $ 8.45 Granted (1,118,857 ) 324,357 $ 13.97 794,500 $ 14.20 Awarded/Exercised — (79,219 ) $ 11.57 (205,419 ) $ 6.55 Forfeited — (1,667 ) $ 14.30 (2,223 ) $ 14.30 Plan shares expired — — — (66,000 ) $ 11.32 Balance at May 31, 2015 881,143 392,771 $ 14.15 1,736,718 $ 11.19 Upon vesting of certain RSUs and the exercise of certain options during fiscal years 2015, 2014 and 2013, certain RSUs and exercised options were net share-settled to cover the required exercise price and withholding tax and the remaining amounts were converted into an equivalent number of shares of Common Stock. The Company withheld shares with value equivalent to the exercise price for options and the employees' minimum statutory obligation for the applicable income and other employment taxes, and remitted the cash to the appropriate taxing authorities. The total shares withheld for fiscal years 2015, 2014 and 2013 were 112,443, 47,573 and 145,159 RSUs and options, respectively, which was based on the value of the option and/or RSUs on their exercise or vesting date as determined by the Company's closing stock price. Total payments for the employees' tax obligations to the taxing authorities during fiscal years 2015, 2014 and 2013 were approximately $343,000, $1.3 million and $49,000, respectively. These net-share settlements had the effect of share repurchases by the Company as they reduced and retired the number of shares that would have otherwise have been issued as a result of the vesting and did not represent an expense to the Company. The following table summarizes information concerning stock options outstanding and exercisable at May 31, 2015 : Options Outstanding Options Exercisable Range of Exercise Prices Number of Shares Outstanding Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price Aggregate Intrinsic Value Number of Shares Exercisable Weighted Aggregate $ 5.00 - $6.00 317,750 2.10 $ 5.65 $ 2,746,675 317,750 $ 5.65 $ 2,746,675 $ 6.01 - $9.00 315,191 1.83 $ 6.46 $ 2,466,904 315,191 $ 6.46 $ 2,466,904 $ 9.01 - $14.00 140,000 6.14 $ 12.57 $ 240,900 30,732 $ 10.55 $ 115,027 $14.01- $14.39 963,777 6.39 $ 14.36 $ — 185,791 $ 14.30 $ — $ 5.00 - $14.39 1,736,718 4.76 $ 11.19 $ 5,454,479 849,464 $ 8.02 $ 5,328,606 At May 31, 2015 and May 25, 2014 options to purchase 849,464 and 984,610 shares of Landec’s Common Stock were vested, respectively, and 887,254 and 231,250 were unvested, respectively. No options have been exercised prior to being vested. The aggregate intrinsic value in the table above represents the total pretax intrinsic value, based on the Company’s closing stock price of $14.29 on May 29, 2015, which would have been received by holders of stock options had all holders of stock options exercised their stock options that were in-the-money as of that date. The total number of in-the-money stock options exercisable as of May 31, 2015, was 663,673 shares. The aggregate intrinsic value of stock options exercised during the fiscal year 2015 was $1.5 million. Option Awards Outstanding Options Weighted Average Exercise Price Weighted Average Remaining Contract Term (in years) Aggregate Intrinsic Value Vested 849,464 $ 8.02 2.74 $ 5,328,606 Expected to vest 861,612 $ 14.22 6.69 123,261 Total 1,711,076 $ 11.14 4.73 $ 5,451,867 As of May 31, 2015, there was $7.6 million of total unrecognized compensation expense related to unvested equity compensation awards granted under the Company’s incentive stock plans. Total expense is expected to be recognized over the weighted-average period of 2.6 years for both stock options and restricted stock awards. Stock Repurchase Plan On July 14, 2010, the Board of Directors of the Company approved the establishment of a stock repurchase plan which allows for the repurchase of up to $10 million of the Company’s Common Stock. The Company may repurchase its common stock from time to time in open market purchases or in privately negotiated transactions. The timing and actual number of shares repurchased is at the discretion of management of the Company and will depend on a variety of factors, including stock price, corporate and regulatory requirements, market conditions, the relative attractiveness of other capital deployment opportunities and other corporate priorities. The stock repurchase program does not obligate Landec to acquire any amount of its common stock and the program may be modified, suspended or terminated at any time at the Company's discretion without prior notice. During fiscal years 2015, 2014 and 2013, the Company did not purchase any shares on the open market.

Note 6 - Debt

Note 6 - Debt	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	6. Debt Long-term debt consists of the following (in thousands): May 31, 2015 May 25, 2014 Real estate loan agreement with General Electric Capital Corporation (“GE Capital”); due in monthly principal and interest payments of $133,060 through May 1, 2022 with interest based on a fixed rate of 4.02% per annum $ 15,172 $ 16,137 Capital equipment loan with GE Capital; due in monthly principal and interest payments of $175,356 through May 1, 2019 with interest based on a fixed rate of 4.39% per annum 7,705 9,430 Capital equipment loan with GE Capital; due in monthly principal and interest payments of $95,120 through September 1, 2019 with interest based on a fixed rate of 3.68% per annum 6,476 — Capital equipment loan with GE Capital; due in monthly principal and interest payments of $55,828 through December 1, 2019 with interest based on a fixed rate of 3.74% per annum 3,907 — Capital equipment loan with Bank of America (“BofA”); due in monthly principal and interest payments of $68,274 through June 28, 2020 with interest based on a fixed rate of 2.79% per annum 3,819 — Term note with BMO Harris; due in monthly payments of $250,000 through May 23, 2016 with interest payable monthly at LIBOR plus 2% per annum 3,000 6,000 Industrial revenue bonds (“IRBs”) issued by Lifecore; due in annual payments through 2020 with interest at a variable rate set weekly by the bond remarketing agent (0.31% and 0.28% at May 31, 2015 and May 25, 2014, respectively) 2,440 2,805 Total 42,519 34,372 Less current portion (8,353 ) (6,055 ) Long-term portion $ 34,166 $ 28,317 The future minimum principal payments of the Company’s debt for each year presented are as follows (in thousands): GE and BofA GE RE Loan M&E Loans BMO Harris IRB Total FY 2016 1,005 3,973 3,000 375 8,353 FY 2017 1,047 4,130 — 390 5,567 FY 2018 1,089 4,293 — 400 5,782 FY 2019 1,134 4,461 — 410 6,005 FY 2020 1,180 5,050 — 425 6,655 Thereafter 9,717 — — 440 10,157 Total $ 15,172 $ 21,907 $ 3,000 $ 2,440 $ 42,519 On July 17, 2014, Apio entered into an amendment with GE Capital, which amended the revolving line of credit dated April 23, 2012 among the parties. Under the amendment, the revolving line of credit increased from $25 million to $40 million, the interest rate was reduced from LIBOR plus 2.0% to LIBOR plus 1.75%, and the term was extended to July 17, 2019, among other changes. The availability under the revolving line of credit is based on the combination of the eligible accounts receivable and eligible inventory (availability was $30.3 million at May 31, 2015). Apio’s revolving line of credit has an unused fee of 0.375% per annum. At both May 31, 2015 and May 25, 2014, there was no outstanding balance under Apio’s revolving line of credit. Also on July 17, 2014, Apio entered into a new equipment loan with GE Capital whereby Apio can borrow up to $25 million based on eligible equipment purchases between August 1, 2012 and August 31, 2015. Each borrowing under this new equipment loan has a five year term with a seven year amortization period. On August 28, 2014, Apio borrowed $7.1 million under the new equipment loan at a fixed rate of 3.68%. On November 24, 2014, Apio borrowed an additional $4.1 million under the new equipment loan at a fixed rate of 3.74%. The Company does not intend to borrow any more funds under this loan. On May 15, 2015, GE Capital and Apio entered into a commitment letter, pursuant to which GE Capital committed to lend Apio up to approximately $14.7 million in equipment financing and approximately $7.7 million in real property financing. The equipment loan and the real property loan will be made pursuant to existing loan agreements dated as of April 23, 2012, as amended May 17, 2013 and July 17, 2014. No amounts had been borrowed under these committed loans as of May 31, 2015. The equipment loan is available to finance purchases of equipment between May 1, 2015 and June 30, 2017. Borrowings under the equipment loan will have a five-year term and a seven-year amortization. Interest on each borrowing under the equipment loan will be at a fixed rate based on an index rate plus a 5-year swap rate at the time of borrowing. The real property loan will be used to finance the expansion of Apio’s facility in Hanover, PA. The real property loan will have a 10-year term and a 20-year amortization. Interest will be at a fixed rate based on an index rate plus a 10-year swap rate on at the time of borrowing. No amounts had been borrowed under these committed loans as of May 31, 2015. The GE real estate, equipment and line of credit agreements (collectively the “GE Debt Agreements”) are secured by liens on all of the property of Apio and its subsidiaries. The GE Debt Agreements contain customary events of default under which obligations could be accelerated or increased. The GE Capital real estate and equipment loans are guaranteed by Landec, and Landec has pledged its equity interest in Apio as collateral under the line of credit agreement. The GE Debt Agreements contain customary covenants, such as limitations on the ability to (1) incur indebtedness or grant liens or negative pledges on Apio’s assets; (2) make loans or other investments; (3) pay dividends, sell stock or repurchase stock or other securities; (4) sell assets; (5) engage in mergers; (6) enter into sale and leaseback transactions; or (7) make changes in Apio’s corporate structure. In addition, Apio must maintain a minimum fixed charge coverage ratio of 1.10 to 1.0 if the availability under its line of credit falls below $12.0 million. Apio was in compliance with all financial covenants as of May 31, 2015 and May 25, 2014. On May 15, 2015, Apio and BofA entered into a commitment letter and loan agreement, pursuant to which Apio will be permitted to borrow up to $15.0 million to finance equipment purchases made between October 1, 2014 and April 30, 2016 (the “BofA Loan”). Each borrowing under the BofA Loan will have a five-year term and a seven-year amortization period and will have a fixed interest rate based on the 2.5-year swap rate at the time of borrowing. Borrowings will be secured by equipment financed with proceeds of the BofA Loan. In addition, on May 15, 2015, Landec and BofA entered into a Guaranty, pursuant to which Landec guaranteed Apio’s payment obligations under the BofA Loan. During fiscal year 2015, Apio capitalized $397,000 of loan origination fees from new equipment loans and/or amendments with GE Capital and BofA. No loan origination fees were capitalized in fiscal year 2014. Amortization of loan origination fees for Apio recorded to interest expense for fiscal years 2015, 2014 and 2013 were $206,000, $187,000 and $181,000, respectively. Unamortized loan origination fees were $1.2 million and $1.0 million at May 31, 2015 and May 25, 2014, respectively, and are included in other assets in the Consolidated Balance Sheets. On May 23, 2012, Lifecore entered into two financing agreements with BMO Harris Bank N.A. and/or its affiliates (“BMO Harris”), collectively (the “Lifecore Loan Agreements”): (1) A $12.0 million term loan which matures in four years due in monthly payments of $250,000 with interest payable monthly based on a variable interest rate of LIBOR plus 2% (the “Term Loan”). (2) A Reimbursement Agreement pursuant to which BMO Harris caused its affiliate Bank of Montreal to issue an irrevocable letter of credit in the amount of $3.5 million (the “Letter of Credit”) which is securing the IRBs described above. On May 22, 2015, Lifecore entered into a Credit and Security Agreement (the “Credit Agreement”) with BMO Harris which includes (a) a two-year, $10.0 million asset-based working capital revolving line of credit, with an interest rate of LIBOR plus 1.85%, with availability based on the combination of Lifecore’s eligible accounts receivable and inventory balances (availability was $9.4 million at May 31, 2015) and with no unused fee and as of May 31, 2015 no amounts were outstanding under the line of credit. The obligations of Lifecore under the Lifecore Loan Agreements and Credit Agreement (collectively “Lifecore Debt Agreements”) are secured by liens on all of the property of Lifecore. The Lifecore Debt Agreements contain customary covenants, such as limitations on the ability to (1) incur indebtedness or grant liens or negative pledges on Lifecore’s assets; (2) make loans or other investments; (3) pay dividends or repurchase stock or other securities; (4) sell assets; (5) engage in mergers; (6) enter into sale and leaseback transactions; (7) adopt certain benefit plans; and (8) make changes in Lifecore’s corporate structure. In addition, under the Credit Agreement, Lifecore must maintain (a) a minimum fixed charge coverage ratio of 1.10 to 1.0 if Lifecore’s unrestricted cash balance is less than 50% of total funded debt at the end of each fiscal quarter and (b) a net debt cash flow leverage ratio of less than 2.0 to 1.0 at the end of each fiscal quarter. Lifecore was in compliance with all financial covenants as of May 31, 2015 and May 25, 2014. Unamortized loan origination fees for the Lifecore Debt Agreements were $48,000 and $98,000 at May 31, 2015 and May 25, 2014, respectively, and are included in other assets in the Consolidated Balance Sheets. The market value of the Company’s debt approximates its recorded value as the interest rates on each debt instrument approximates current market rates. The Term Loan was used to repay Lifecore’s former credit facility with Wells Fargo Bank, N.A. (“Wells Fargo”). The Letter of Credit (which replaces a letter of credit previously provided by Wells Fargo) provides liquidity and credit support for the IRBs. On August 19, 2004, Lifecore issued variable rate industrial revenue bonds (“IRBs”). These IRBs were assumed by Landec in the acquisition of Lifecore. The IRBs are collateralized by a bank letter of credit which is secured by a first mortgage on the Company’s facility in Chaska, Minnesota. In addition, the Company pays an annual remarketing fee equal to 0.125% and an annual letter of credit fee of 0.75%. The maturities on the IRBs are held in a sinking fund account, recorded in Other Current Assets in the accompanying Consolidated Balance Sheets, and are paid out each year on September 1 st

Note 7 - Derivative Financial I

Note 7 - Derivative Financial Instruments	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	7. Derivative Financial Instruments In May 2010, the Company entered into a five-year interest rate swap agreement under the credit agreement with Wells Fargo which terminated in May 2015. The interest rate swap was designated as a cash flow hedge of future interest payments of LIBOR and had a notional amount of $20 million. As a result of the interest rate swap transaction, the Company fixed for a five-year period the interest rate at 4.24% subject to market based interest rate risk on $20 million of borrowings under the credit agreement with Wells Fargo. The Company’s obligations under the interest rate swap transaction as to the scheduled payments were guaranteed and secured on the same basis as its obligations under the credit agreement with Wells Fargo at the time the agreement was consummated. Upon entering into the new Term Loan with BMO Harris in May 2012, the Company used the proceeds from that loan to pay off the Wells Fargo credit facility. The swap with Wells Fargo was not terminated upon the extinguishment of the debt with Wells Fargo. The fair value of the swap arrangement as of May 31, 2015 and May 25, 2014 was zero and $44,000, respectively, and is included in other accrued liabilities in the accompanying Consolidated Balance Sheets.

Note 8 - Income Taxes

Note 8 - Income Taxes	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	8 . Income Taxes The provision for income taxes consisted of the following (in thousands): Year ended Year ended Year ended Current: May 31, 2015 May 25, 2014 May 26, 2013 Federal $ 3,480 $ 4,785 $ 2,808 State 43 157 (18 ) Foreign 71 56 56 Total 3,594 4,998 2,846 Deferred: Federal 3,789 5,059 6,218 State 363 526 388 Total 4,152 5,585 6,606 Income tax expense $ 7,746 $ 10,583 $ 9,452 The actual provision for income taxes differs from the statutory U.S. federal income tax rate as follows (in thousands): Year Ended May 31, 2015 Year Ended May 25, 2014 Year Ended May 26, 2013 Provision at U.S. statutory rate (1) $ 7,451 $ 10,405 $ 11,214 State income taxes, net of federal benefit 566 711 731 Change in valuation allowance 353 99 370 Tax-exempt interest — — — Tax credit carryforwards (375 ) (378 ) (801 ) Domestic manufacturing deduction (369 ) (406 ) (172 ) Change in value of contingent consideration — — (1,450 ) Other 120 152 (440 ) Total $ 7,746 $ 10,583 $ 9,452 (1) Statutory rate was 35% for fiscal years 2015, 2014 and 2013. The decrease in income tax expense in fiscal year 2015 compared to fiscal year 2014 was primarily due to a 28% decrease in income before taxes. The increase in income tax expense in fiscal year 2014 compared to fiscal year 2013 is primarily due to the benefit received in fiscal year 2013 related to the change in value of contingent consideration, the absence of which increased the effective tax rate from 30% in fiscal year 2013 to 36% in fiscal year 2014 partially offset by a 7% decrease in net income before taxes. The effective tax rates for fiscal year 2015 differ from the statutory federal income tax rate of 35% as a result of several factors, including state taxes, valuation allowance on the impairment of the investment in Aesthetic Sciences Corporation, and non-deductible stock-based compensation expense; partially offset by the domestic manufacturing deduction and state and federal research and development credits. The effective tax rates for fiscal year 2014 differ from the statutory federal income tax rate of 35% as a result of several factors, including state taxes, non-deductible stock-based compensation expense, disqualified dispositions of incentive stock options, domestic manufacturing deduction, the benefit of federal and state research and development credits, and the change in valuation allowance. The effective tax rates for fiscal year 2013 differ from the statutory federal income tax rate of 35% as a result of several factors, including state taxes, change in value of contingent consideration, non-deductible stock-based compensation expense, disqualified dispositions of incentive stock options, domestic manufacturing deduction, the benefit of federal and state research and development credits, and the change in valuation allowance. Significant components of deferred tax assets and liabilities consisted of the following (in thousands): May 31, 2015 May 25, 2014 Deferred tax assets: Net operating loss carryforwards $ 3,415 $ 3,630 Accruals and reserves 1,964 1,746 Stock-based compensation 662 723 Research and AMT credit carryforwards 515 495 Other 966 545 Gross deferred tax assets 7,522 7,139 Valuation allowance (1,234 ) (881 ) Net deferred tax assets 6,288 6,258 Deferred tax liabilities: Basis difference in investment in non-public company (10,753 ) (9,270 ) Depreciation and amortization (7,186 ) (5,705 ) Goodwill and other indefinite life intangibles (20,578 ) (19,360 ) Deferred tax liabilities (38,517 ) (34,335 ) Net deferred tax liabilities $ (32,229 ) $ (28,077 ) As of May 31, 2015, the Company had federal, California, Indiana, and other state net operating loss carryforwards of approximately $7.8 million, $0.8 million, $6.6 million, and $13.3 million respectively. These losses expire in different periods through 2032, if not utilized. Such net operating losses consist of excess tax benefits from employee stock option exercises and have not been recorded in the Company’s deferred tax assets. The Company will record approximately $500,000 of the gross California net operating loss to additional paid in capital as and when such excess tax benefits are ultimately realized. The Company acquired additional net operating losses through the acquisition of GreenLine. Utilization of these acquired net operating losses in a specific year is limited due to the “change in ownership” provision of the Internal Revenue Code of 1986 and similar state provisions. The net operating losses presented above for federal and state purposes is net of any such limitation. The Company has California research and development tax credits carryforwards of approximately $1.6 million. The research and development tax credit carryforwards have an unlimited carryforward period for California purposes. Certain tax credit carryovers are attributable to excess tax benefits from employee stock option exercises and have not been recorded in the Company’s deferred tax assets. The Company will record $1.1 million of the gross California research and development credit to additional paid in capital as and when such excess tax benefits are ultimately realized. Valuation allowances are reviewed each period on a tax jurisdiction by jurisdiction basis to analyze whether there is sufficient positive or negative evidence to support a change in judgment about the realizability of the related deferred tax assets. Based on this analysis and considering all positive and negative evidence, the Company determined that a valuation allowance of $1.2 million should be recorded as a result of uncertainty around the utilization of certain state net operating losses and a book impairment loss on the Company's investment in Aesthetic Sciences as it is more likely than not that a portion of the deferred tax asset will not be realized in the foreseeable future. The valuation allowance increased by $353,000 in fiscal year 2015 primarily due to uncertainty around the utilization of certain state net operating losses and credits. The accounting for uncertainty in income taxes recognized in an enterprise’s financial statements prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, and the derecognition of tax benefits, classification on the balance sheet, interest and penalties, accounting in interim periods, disclosure, and transition. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): As of May 31 , 201 5 May 25 , 201 4 May 26 , 201 3 Unrecognized tax benefits – beginning of the period $ 1,035 $ 998 $ 766 Gross increases – tax positions in prior period 17 7 103 Gross decreases – tax positions in prior period (141 ) (48 ) — Gross increases – current-period tax positions 76 78 129 Lapse of statute of limitations — — — Unrecognized tax benefits – end of the period $ 987 $ 1,035 $ 998 As of May 31, 2015, the total amount of net unrecognized tax benefits was $987,000, of which, $800,000, if recognized, would affect the effective tax rate. As of May 25, 2014, the total amount of net unrecognized tax benefits was $1.0 million, of which, $817,000, if recognized, would affect the effective tax rate. The Company accrues interest and penalties related to unrecognized tax benefits in its provision for income taxes. The total amount of penalties and interest was not material as of May 31, 2015 and May 25, 2014. Additionally, the Company does not expect its unrecognized tax benefits to change materially within the next twelve months. Due to tax attribute carryforwards, the Company is subject to examination for tax years 1997 forward for U.S. tax purposes. The Company is also subject to examination in various state jurisdictions for tax years 1998 forward, none of which were individually material.

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	9. Commitments and Contingencies Operating Leases Landec leases facilities and equipment under operating lease agreements with various terms and conditions, which expire at various dates through fiscal year 2023. Certain of these leases have renewal options. The approximate future minimum lease payments under these operating leases, excluding land leases, at May 31, 2015 are as follows (in thousands): Amount FY 2016 $ 3,136 FY 2017 2,631 FY 2018 1,768 FY 2019 1,003 FY 2020 257 Thereafter 624 Total $ 9,419 Rent expense for operating leases, including month to month arrangements was $5.0 million, $4.4 million and $4.8 million for the fiscal years 2015, 2014 and 2013, respectively. Capital Leases There was no equipment under capital lease agreements at May 31, 2015. Employment Agreements Landec has entered into employment agreements with certain key employees. These agreements provide for these employees to receive incentive bonuses based on the financial performance of certain divisions in addition to their annual base salaries. The accrued incentive bonuses amounted to $1.0 million at May 31, 2015 and $656,000 at May 25, 2014. Purchase Commitments At May 31, 2015, the Company was committed to purchase $15.1 million of produce during fiscal year 2016 in accordance with contractual terms at market rates. Payments of $16.8 million were made in fiscal year 2015 under similar arrangements. Loss Contingencies As of May 31, 2015, the Company is not a party to any legal proceedings.

Note 10 - Employee Savings and

Note 10 - Employee Savings and Investment Plans	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	10. Employee Savings and Investment Plans The Company sponsors a 401(k) plan which is available to substantially all of the Company’s employees. Landec’s Corporate Plan, which is available to all Landec employees (“Landec Plan”), allows participants to contribute from 1% to 50% of their salaries, up to the Internal Revenue Service (“IRS”) limitation into designated investment funds. The Company matches 67% on the first 6% contributed by an employee. Employee and Company contributions are fully vested at the time of the contributions. The Company retains the right, by action of the Board of Directors, to amend, modify, or terminate the plan. For fiscal years 2015, 2014 and 2013, the Company contributed $1.2 million, $1.1 million and $939,000 ,

Note 11 - Business Segment Repo

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

Note 12 - Quarterly Consolidate

Note 12 - Quarterly Consolidated Financial Information (unaudited)	12 Months Ended
	May. 31, 2015
Notes to Financial Statements
Quarterly Financial Information [Text Block]	12. Quarterly Consolidated Financial Information (unaudited) The following is a summary of the unaudited quarterly results of operations for fiscal years 2015, 2014 and 2013 (in thousands, except for per share amounts): FY 2015 1st Quarter 2 nd 3rd Quarter 4th Quarter FY 2015 Revenues $ 133,614 $ 132,665 $ 138,530 $ 134,448 $ 539,257 Gross profit $ 14,188 $ 15,666 $ 16,885 $ 18,668 $ 65,407 Net income $ 2,353 $ 3,223 $ 3,772 $ 4,196 $ 13,544 Net income per basic share $ 0.09 $ 0.12 $ 0.14 $ 0.16 $ 0.50 Net income per diluted share $ 0.09 $ 0.12 $ 0.14 $ 0.15 $ 0.50 FY 2014 1st Quarter 2 nd 3rd Quarter 4th Quarter FY 2014 Revenues $ 109,479 $ 120,026 $ 126,379 $ 120,929 $ 476,813 Gross profit $ 12,532 $ 13,734 $ 20,155 $ 16,143 $ 62,564 Net income $ 4,752 $ 3,451 $ 6,400 $ 4,542 $ 19,145 Net income per basic share $ 0.18 $ 0.13 $ 0.24 $ 0.17 $ 0.72 Net income per diluted share $ 0.18 $ 0.13 $ 0.24 $ 0.17 $ 0.71 FY 2013 1st Quarter 2 nd 3rd Quarter 4th Quarter FY 2013 Revenues $ 102,074 $ 114,654 $ 117,867 $ 107,113 $ 441,708 Gross profit $ 13,763 $ 18,459 $ 17,508 $ 13,030 $ 62,760 Net income (loss) $ 4,366 $ 8,913 $ 4,789 $ 4,519 $ 22,587 Net income (loss) per basic share $ 0.17 $ 0.35 $ 0.19 $ 0.17 $ 0.87 Net income (loss) per diluted share $ 0.17 $ 0.34 $ 0.18 $ 0.17 $ 0.85

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	May. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Basis of Presentation Basis of Consolidation The consolidated financial statements are presented on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles and include the accounts of Landec Corporation and its subsidiaries, Apio and Lifecore. All material inter-company transactions and balances have been eliminated. Arrangements that are not controlled through voting or similar rights are reviewed under the guidance for variable interest entities (“VIEs”). A company is required to consolidate the assets, liabilities and operations of a VIE if it is determined to be the primary beneficiary of the VIE. An entity is a VIE and subject to consolidation, if by design: a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support provided by any parties, including equity holders or b) as a group the holders of the equity investment at risk lack any one of the following three characteristics: (i) the power, through voting rights or similar rights to direct the activities of an entity that most significantly impact the entity’s economic performance, (ii) the obligation to absorb the expected losses of the entity, or (iii) the right to receive the expected residual returns of the entity. The Company reviewed the consolidation guidance and concluded that the partnership interest and equity investment in non-public companies by the Company are not VIEs.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make certain estimates and judgments that affect the amounts reported in the financial statements and accompanying notes. The accounting estimates that require management’s most significant and subjective judgments include revenue recognition; sales returns and allowances; self insurance liabilities; recognition and measurement of current and deferred income tax assets and liabilities; the assessment of recoverability of long-lived assets; the valuation of intangible assets and inventory; the valuation of investments; and the valuation and recognition of stock-based compensation. These estimates involve the consideration of complex factors and require management to make judgments. The analysis of historical and future trends can require extended periods of time to resolve and are subject to change from period to period. The actual results may differ from management’s estimates.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of Risk Cash and cash equivalents, marketable securities, trade accounts receivable, grower advances and notes receivable are financial instruments that potentially subject the Company to concentrations of credit risk. Our Company policy limits, among other things, the amount of credit exposure to any one issuer and to any one type of investment, other than securities issued or guaranteed by the U.S. government. The Company routinely assesses the financial strength of customers and growers and, as a consequence, believes that trade receivables, grower advances and notes receivable credit risk exposure is limited. Credit losses for bad debt are provided for in the consolidated financial statements through a charge to operations. A valuation allowance is provided for known and anticipated credit losses. The recorded amounts for these financial instruments approximate their fair value. Several of the raw materials we use to manufacture our products are currently purchased from a single source, including some monomers used to synthesize Intelimer polymers, substrate materials for our breathable membrane products and raw materials for our HA products. The operations of Windset, in which the Company holds a 26.9% minority investment, are predominantly located in British Columbia and Santa Maria, California. Routinely, the Company evaluates the financial strength and ability for Windset to continue as a going concern. During the fiscal year ended May 31, 2015, sales to the Company’s top five customers accounted for approximately 46% of total revenue with the top two customers from the Food Products Technology segment, Costco Wholesale Corporation (“Costco”) and Wal-mart, Inc. (“Wal-mart”) accounting for approximately 21% and 11%, respectively, of total revenues. In addition, approximately 30% of the Company’s total revenues were derived from product sales to international customers, none of which individually accounted for more than 5% of total revenues. As of May 31, 2015, the top two customers, Costco and Wal-mart represented approximately 15% and 13%, respectively, of total accounts receivable. During the fiscal year ended May 25, 2014, sales to the Company’s top five customers accounted for approximately 42% of total revenue with the top two customers from the Food Products Technology segment, Costco Wholesale Corporation and Wal-mart, Inc. accounting for approximately 21% and 11%, respectively, of total revenues. In addition, approximately 29% of the Company’s total revenues were derived from product sales to international customers, none of which individually accounted for more than 5% of total revenues. As of May 25, 2014, the top two customers, Costco Wholesale Corporation and Wal-mart, Inc. represented approximately 16% and 12%, respectively, of total accounts receivable.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Recoverability of assets is measured by comparison of the carrying amount of the asset to the net undiscounted future cash flow expected to be generated from the asset. If the future undiscounted cash flows are not sufficient to recover the carrying value of the assets, the assets’ carrying value is adjusted to fair value. The Company regularly evaluates its long-lived assets for indicators of possible impairment.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Financial Instruments their carrying value. Fair values for long-term financial instruments not readily marketable are estimated based upon discounted future cash flows at prevailing market interest rates. Based on these assumptions, management believes the fair market values of the Company’s financial instruments are not significantly different from their recorded amounts as of May 31, 2015 and May 25, 2014.
Trade and Other Accounts Receivable, Policy [Policy Text Block]	Accounts Receivable and Sales Returns and Allowance for Doubtful Accounts The Company carries its accounts receivable at their face amounts less an allowance for estimated sales returns and doubtful accounts. Sales return allowances are estimated based on historical sales return amounts. Further, on a periodic basis, the Company evaluates its accounts receivable and establishes an allowance for doubtful accounts and estimated losses resulting from the inability of its customers to make required payments. The allowance for doubtful accounts is determined based on review of the overall condition of accounts receivable balances and review of significant past due accounts. The allowance for doubtful accounts is based on specific identification of past due amounts and for accounts over 90-days past due. The changes in the Company’s allowance for sales returns and doubtful accounts are summarized in the following table (in thousands). Balance at beginning of period Additions from acquisitions and adjustments charged to revenue and expenses Write offs, net of recoveries Balance at end of period Year ended May 26, 2013 $ 512 $ 109 $ (38 ) $ 583 Year ended May 25, 2014 $ 583 $ 143 $ (210 ) $ 516 Year ended May 31, 2015 $ 516 $ — $ (134 ) $ 382
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Revenue from product sales is recognized when there is persuasive evidence that an arrangement exists, title has transferred, the price is fixed and determinable, and collectability is reasonably assured. Allowances are established for estimated uncollectible amounts, product returns, and discounts based on specific identification and historical losses. Apio’s Food Products Technology revenues generally consist of revenues generated from the sale of specialty packaged fresh-cut and whole value-added processed vegetable products that are generally washed and packaged in our proprietary packaging and sold under Apio’s Eat Smart and GreenLine brands and various private labels. Revenue is generally recognized upon shipment of these products to customers. The Company takes title to all produce it trades and/or packages, and therefore, records revenues and cost of sales at gross amounts in the Consolidated Statements of Comprehensive Income. In addition, Food Products Technology value-added revenues include the revenues generated from Apio Cooling, LP, a vegetable cooling operation in which Apio is the general partner with a 60% ownership position and from the sale of BreatheWay® packaging to license partners. Revenue is recognized on the vegetable cooling operations as cooling and storage services are provided to our customers. Sales of BreatheWay packaging are recognized when shipped to our customers. Apio’s Food Export revenues consist of revenues generated from the purchase and sale of primarily whole commodity fruit and vegetable products to Asia by Cal-Ex. As most Cal-Ex customers are in countries outside of the U.S., title transfers and revenue is generally recognized upon arrival of the shipment in the foreign port. Apio records revenue equal to the sale price to third parties because it takes title to the product while in transit. Our HA-based Biomaterials business principally generates revenue through the sale of products containing HA. Lifecore primarily sells products to customers in three medical areas: (1) Ophthalmic, which represented approximately 60% of Lifecore’s revenues in fiscal year 2015, (2) Orthopedic, which represented approximately 20% of Lifecore’s revenues in fiscal year 2015 and (3) Veterinary/Other. The vast majority of revenues from our HA-based Biomaterials business are recognized upon shipment. Lifecore’s business development revenues, a portion of which are included in all three medical areas, are related to contract research and development (R&D) services and multi-element arrangement services with customers where the Company provides products and/or services in a bundled arrangement. Contract R&D revenue is recorded as earned, based on the performance requirements of the contract. Non-refundable contract fees for which no further performance obligations exist, and there is no continuing involvement by the Company, are recognized on the earlier of when the payment is received or collection is assured. For sales arrangements that contain multiple elements, the Company splits the arrangement into separate units of accounting if the individually delivered elements have value to the customer on a standalone basis. The Company also evaluates whether multiple transactions with the same customer or related party should be considered part of a multiple element arrangement, whereby the Company assesses, among other factors, whether the contracts or agreements are negotiated or executed within a short time frame of each other or if there are indicators that the contracts are negotiated in contemplation of each other. The Company then allocates revenue to each element based on a selling price hierarchy. The relative selling price for a deliverable is based on its vendor-specific objective evidence (VSOE), if available, third-party evidence (TPE), if VSOE is not available, or estimated selling price, if neither VSOE nor TPE is available. The Company then recognizes revenue on each deliverable in accordance with its policies for product and service revenue recognition. The Company is not typically able to determine VSOE or TPE, and therefore, uses the estimated selling price to allocate revenue between the elements of an arrangement. The Company limits the amount of revenue recognition for delivered elements to the amount that is not contingent on the future delivery of products or services or future performance obligations or subject to customer-specific cancellation rights. The Company evaluates each deliverable in an arrangement to determine whether it represents a separate unit of accounting. A deliverable constitutes a separate unit of accounting when it has stand-alone value, and for an arrangement that includes a general right of return relative to the delivered products or services, delivery or performance of the undelivered product or service is considered probable and is substantially controlled by the Company. The Company considers a deliverable to have stand-alone value if the product or service is sold separately by the Company or another vendor or could be resold by the customer. Further, the revenue arrangements generally do not include a general right of return relative to delivered products. Where the aforementioned criteria for a separate unit of accounting are not met, the deliverable is combined with the undelivered element(s) and treated as a single unit of accounting for the purposes of allocation of the arrangement consideration and revenue recognition. The Company allocates the total arrangement consideration to each separable element of an arrangement based upon the relative selling price of each element. Allocation of the consideration is determined at arrangement inception on the basis of each unit’s relative selling price. In instances where the Company has not established fair value for any undelivered element, revenue for all elements is deferred until delivery of the final element is completed and all recognition criteria are met. Licensing revenue is recognized in accordance with prevailing accounting guidance. Initial license fees are deferred and amortized to revenue over the period of the agreement when a contract exists, the fee is fixed and determinable, and collectability is reasonably assured. Noncancellable, nonrefundable license fees are recognized over the period of the agreement, including those governing research and development activities and any related supply agreement entered into concurrently with the license when the risk associated with commercialization of a product is non-substantive at the outset of the arrangement. From time to time, the Company offers customers sales incentives, which include volume rebates and discounts. These amounts are estimated on a quarterly basis and recorded as a reduction of revenue. A summary of revenues by type of revenue arrangement as described above is as follows (in thousands): Year ended May 31 , 201 5 Year ended May 25 , 201 4 Year ended May 26 , 201 3 Recorded upon shipment $ 465,484 $ 398,938 $ 359,518 Recorded upon acceptance in foreign port 67,714 69,710 78,442 Revenue from multiple element arrangements 4,253 6,811 1,773 Revenue from license fees, R&D contracts and royalties/profit sharing 1,806 1,354 1,975 Total $ 539,257 $ 476,813 $ 441,708
Shipping and Handling Cost, Policy [Policy Text Block]	Shipping and Handling Costs Amounts billed to third-party customers for shipping and handling are included as a component of revenues. Shipping and handling costs incurred are included as a component of cost of products sold and represent costs incurred to ship product from the sourcing locations to the end consumer markets.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company records all highly liquid securities with three months or less from date of purchase to maturity as cash equivalents. Cash equivalents consist mainly of certificate of deposits (CDs), money market funds and U.S. Treasuries. The market value of cash equivalents approximates their historical cost given their short-term nature.
Inventory, Policy [Policy Text Block]	Inventories Inventories are stated at the lower of cost (using the first-in, first-out method) or market. As of May 31, 2015 and May 25, 2014 inventories consisted of (in thousands): May 31, 2015 May 25, 2014 Finished goods $ 13,271 $ 11,111 Raw materials 9,879 10,376 Work in progress 1,877 3,248 Inventories, net $ 25,027 $ 24,735 If the cost of the inventories exceeds their net realizable value, provisions are recorded currently to reduce them to net realizable value. The Company also provides a provision for slow moving and obsolete inventories based on the estimate of demand for its products.
Advertising Costs, Policy [Policy Text Block]	Advertising Expense
Receivables, Policy [Policy Text Block]	Notes and Advances Receivable Apio issues notes and makes advances to produce growers for their crop and harvesting costs primarily for the purpose of sourcing crops for Apio's business. Notes receivable and advances are generally recovered during the growing season (less than one year) using proceeds from the crops sold to Apio. Notes are interest bearing obligations, evidenced by contracts and notes receivable. These notes and advances receivable are secured by perfected liens on crops, have terms that range from three to nine months, and are reviewed at least quarterly for collectability. A reserve is established for any note or advance deemed to not be fully collectible based upon an estimate of the crop value or the fair value of the security for the note or advance. There were no notes or advances outstanding at May 31, 2015.
Related Party Transactions Policy [Policy Text Block]	Related Party Transactions The Company sold products to and earned license fees from Windset Holding 2010 Ltd., a Canadian corporation (“Windset”) during the last three fiscal years. During fiscal years 2015, 2014 and 2013, the Company recognized related party revenues of $689,000, $365,000, and $316,000, respectively. These amounts have been included in product sales in the accompanying Consolidated Statements of Comprehensive Income, from the sale of products to and license fees from Windset. The related receivable balances of $306,000 and $304,000 from Windset are included in accounts receivable, related party in the accompanying Consolidated Balance Sheets as of May 31, 2015 and May 25, 2014, respectively. Additionally, unrelated to the revenue transactions above, the Company purchases produce from Windset for sale to third parties. During fiscal years 2015, 2014 and 2013, the Company recognized related party cost of product sales of $1.6 million, $1.6 million and $2.1 million, respectively, in the accompanying Consolidated Statements of Comprehensive Income, from the sale of products purchased from Windset. The related accounts payable of $244,000 and $134,000 from Windset are included in accounts payable, related party in the accompanying Consolidated Balance Sheets as of May 31, 2015 and May 25, 2014, respectively. All related party transactions are monitored quarterly by the Company and approved by the Audit Committee of the Board of Directors.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost. Expenditures for major improvements are capitalized while repairs and maintenance are charged to expense. Depreciation is expensed on a straight-line basis over the estimated useful lives of the respective assets, generally three to forty years for buildings and leasehold improvements and three to twenty years for furniture and fixtures, computers, capitalized software, capitalized leases, machinery, equipment and autos. Leasehold improvements are amortized on a straight-line basis over the lesser of the economic life of the improvement or the life of the lease. The Company capitalizes software development costs for internal use in accordance with accounting guidance. Capitalization of software development costs begins in the application development stage and ends when the asset is placed into service. The Company amortizes such costs using the straight-line basis over estimated useful lives of three to seven years. During fiscal year 2014, the Company capitalized $913,000 in software development costs. During fiscal years 2015 and 2013, the Company did not capitalize any software development costs.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Long-Lived Assets The Company’s Long-Lived Assets consist of property, plant and equipment, and intangible assets. Intangible assets are comprised of customer relationships with an estimated useful life of twelve to thirteen years (the “finite-lived intangible assets”) and trademarks/trade names and goodwill with indefinite lives (collectively, “the indefinite-lived intangible assets”), which the Company recognized in accordance with accounting guidance (i) upon the acquisition of GreenLine Holding Company (“GreenLine”) by Apio in April 2012, (ii) upon the acquisition of Lifecore in April 2010 and (iii) upon the acquisition of Apio in December 1999. Accounting guidance defines goodwill as “the excess of the cost of an acquired entity over the net of the estimated fair values of the assets acquired and the liabilities assumed at date of acquisition.” All intangible assets, including goodwill, associated with the acquisition of Lifecore was allocated to the HA-based Biomaterials reporting unit and the acquisitions of Apio and GreenLine were allocated to the Food Products Technology reporting unit pursuant to accounting guidance based upon the allocation of assets and liabilities acquired and consideration paid for each reporting unit. As of May 31, 2015, the HA-based Biomaterials reporting unit had $13.9 million of goodwill and the Food Products Technology reporting unit had $35.7 million of goodwill. Property, plant and equipment and finite-lived intangible assets are reviewed for possible impairment whenever events or changes in circumstances occur that indicate that the carrying amount of an asset (or asset group) may not be recoverable. The Company’s impairment review requires significant management judgment including estimating the future success of product lines, future sales volumes, revenue and expense growth rates, alternative uses for the assets and estimated proceeds from the disposal of the assets. The Company conducts quarterly reviews of idle and underutilized equipment, and reviews business plans for possible impairment indicators. Impairment is indicated when the carrying amount of the asset (or asset group) exceeds its estimated future undiscounted cash flows and the impairment is viewed as other than temporary. When impairment is indicated, an impairment charge is recorded for the difference between the asset’s book value and its estimated fair value. Depending on the asset, estimated fair value may be determined either by use of a discounted cash flow model or by reference to estimated selling values of assets in similar condition. The use of different assumptions would increase or decrease the estimated fair value of assets and would increase or decrease any impairment measurement. The Company tests its indefinite-lived intangible assets for impairment at least annually, in accordance with accounting guidance. For all indefinite-lived assets, including goodwill, the Company performs a qualitative analysis in accordance with ASC 350-30-35. Application of the impairment tests for indefinite-lived intangible assets requires significant judgment by management, including identification of reporting units, assignment of assets and liabilities to reporting units, assignment of intangible assets to reporting units, which judgments are inherently uncertain. During the fiscal quarter ended February 23, 2014, the Company voluntarily changed the date of its annual goodwill and indefinite-lived intangible assets impairment testing from the last day of the fiscal month in July to the first day of the fiscal fourth quarter. This voluntary change was preferable under the circumstances as it provides the Company with additional time to complete its annual goodwill and indefinite-lived intangible asset impairment testing in advance of its year-end reporting and results in better alignment with the Company’s strategic planning and forecasting process. This change was not applied retrospectively as it was impracticable to do so because retrospective application would have required application of significant estimates and assumptions with the use of hindsight. Accordingly, the change was applied prospectively. The Company tested its indefinite-lived intangible assets, including goodwill, for impairment as of March 2, 2015 and determined that no adjustments to the carrying values of these assets were necessary as of that date. As a result, it was not necessary to perform the two-step quantitative goodwill impairment test at the time. Subsequent to the 2015 annual impairment test, there have been no significant events or circumstances affecting the valuation of goodwill. As of May 31, 2015, there were no events or changes in circumstances that indicated that the carrying amount of intangible assets may not be recoverable or that goodwill should be tested for impairment. Therefore, there was no impairment to the carrying value of the Company's goodwill. There were no impairment losses for goodwill during fiscal years 2014 and 2013. On a quarterly basis, the Company considers the need to update its most recent annual tests for possible impairment of its indefinite-lived intangible assets, based on management’s assessment of changes in its business and other economic factors since the most recent annual evaluation. Such changes, if significant or material, could indicate a need to update the most recent annual tests for impairment of the indefinite-lived intangible assets during the current period. The results of these tests could lead to write-downs of the carrying values of these assets in the current period. In the annual impairment test, the Company first assess qualitative factors to determine whether it is necessary to perform the two-step quantitative goodwill impairment test. In assessing the qualitative factors, management considers the impact of these key factors: macro-economic conditions, industry and market environment, overall financial performance of the Company, cash flow from operating activities, market capitalization and stock price. If management determines as a result of the qualitative assessment that it is more likely than not (that is, a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount, then the quantitative test is required. Otherwise, no further testing is required. In a quantitative test, the Company compares the fair value of indefinite-lived intangible assets to its carrying value including goodwill. The Company determines the fair value using both an income approach and a market approach. Under the income approach, fair value is determined based on estimated future cash flows, discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of the Company and the rate of return an outside investor would expect to earn. Under the market-based approach, information regarding the Company is utilized as well as publicly available industry information to determine earnings multiples that are used to value the Company. If the carrying value of the Company exceeds its fair value, the Company will determine the amount of impairment loss by comparing the implied fair value of goodwill with the carrying value of goodwill. An impairment charge is recognized for the excess of the carrying value of goodwill over its implied fair value.
Investment In Non Public Companies [Policy Text Block]	Investment in Non-Public Company In December 2005, Landec entered into a licensing agreement with Aesthetic Sciences for the exclusive rights to use Landec's Intelimer® materials technology for the development of dermal fillers worldwide under the agreement. The Company received shares of preferred stock in exchange for the license. As of March 1, 2015, the Company concluded that its investment in Aesthetic Sciences was other than temporarily impaired, and therefore wrote off its remaining $793,000 investment (see Note 2). On February 15, 2011, the Company made an investment in Windset which is reported as an investment in non-public company, fair value, in the accompanying Consolidated Balance Sheets as of May 31, 2015 and May 25, 2014. The Company has elected to account for its investment in Windset under the fair value option (see Note 2).
Self Insurance Reserve [Policy Text Block]	Partial Self-Insurance on Employee Health Plan The Company provides health insurance benefits to eligible employees under a self-insured plan whereby the Company pays actual medical claims subject to certain stop loss limits. The Company records self-insurance liabilities based on actual claims filed and an estimate of those claims incurred but not reported. Any projection of losses concerning the Company's liability is subject to a high degree of variability. Among the causes of this variability are unpredictable external factors such as inflation rates, changes in severity, benefit level changes, medical costs, and claims settlement patterns. This self-insurance liability is included in accrued liabilities and represents management's best estimate of the amounts that have not been paid as of May 31, 2015. It is reasonably possible that the expense the Company ultimately incurs could differ and adjustments to future reserves may be necessary.
Revenue Recognition, Deferred Revenue [Policy Text Block]	Deferred Revenue Cash received in advance of services performed are recorded as deferred revenue. At May 31, 2015, $843,000 was recognized as advances from customers. At May 25, 2014, $1.3 million was recognized as advances from customers.
Non-controlling Interest [Policy Text Block]	Non-Controlling Interest The Company reports all non-controlling interests as a separate component of stockholders’ equity. The non-controlling interest’s share of the income or loss of the consolidated subsidiary is reported as a separate line item in our Consolidated Statements of Comprehensive Income, following the consolidated net income caption. In connection with the acquisition of Apio, Landec acquired Apio’s 60% general partner interest in Apio Cooling, a California limited partnership. Apio Cooling is included in the consolidated financial statements of Landec for all periods presented. The non-controlling interest balance of $1.7 at both May 31, 2015 and May 25, 2014 was comprised of the non-controlling limited partners’ interest in Apio Cooling.
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes in accordance with accounting guidance which requires that deferred tax assets and liabilities be recognized using enacted tax rates for the effect of temporary differences between the book and tax basis of recorded assets and liabilities. The Company maintains valuation allowances when it is likely that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances from period to period are included in the Company’s income tax provision in the period of change. In determining whether a valuation allowance is warranted, the Company takes into account such factors as prior earnings history, expected future earnings, unsettled circumstances that, if unfavorably resolved, would adversely affect utilization of a deferred tax asset, carryback and carryforward periods, and tax strategies that could potentially enhance the likelihood of realization of a deferred tax asset. At May 31, 2015, the Company had a $1.2 million valuation allowance against its deferred tax assets. In addition to valuation allowances, the Company establishes accruals for uncertain tax positions. The tax-contingency accruals are adjusted in light of changing facts and circumstances, such as the progress of tax audits, case law and emerging legislation. The Company recognizes interest and penalties related to uncertain tax positions as a component of income tax expense. The Company’s effective tax rate includes the impact of tax-contingency accruals as considered appropriate by management. A number of years may elapse before a particular matter, for which the Company has accrued, is audited and finally resolved. The number of years with open tax audits varies by jurisdiction. While it is often difficult to predict the final outcome or the timing of resolution of any particular tax matter, the Company believes its tax-contingency accruals are adequate to address known tax contingencies. Favorable resolution of such matters could be recognized as a reduction to the Company’s effective tax rate in the year of resolution. Unfavorable settlement of any particular issue could increase the effective tax rate. Any resolution of a tax issue may require the use of cash in the year of resolution. The Company’s tax-contingency accruals are recorded in other accrued liabilities in the accompanying Consolidated Balance Sheets.
Earnings Per Share, Policy [Policy Text Block]	Per Share Information Accounting guidance requires the presentation of basic and diluted earnings per share. Basic earnings per share excludes any dilutive effects of options, warrants and convertible securities and is computed using the weighted average number of common shares outstanding. Diluted earnings per share reflect the potential dilution as if securities or other contracts to issue common stock were exercised or converted into common stock. Diluted common equivalent shares consist of stock options and restricted stock units, calculated using the treasury stock method. The following table sets forth the computation of diluted net income per share (in thousands, except per share amounts): Fiscal Year Ended May 31, 2015 Fiscal Year Ended May 25, 2014 Fiscal Year Ended May 26, 2013 Numerator: Net income applicable to Common Stockholders $ 13,544 $ 19,145 $ 22,587 Denominator: Weighted average shares for basic net income per share 26,884 26,628 25,830 Effect of dilutive securities: Stock options and restricted stock units 452 492 796 Weighted average shares for diluted net income per share 27,336 27,120 26,626 Diluted net income per share $ 0.50 $ 0.71 $ 0.85 Options to purchase 371,115, 333,993 and 88,022 shares of Common Stock at a weighted average exercise price of $14.02, $14.15 and $12.80 per share were outstanding during fiscal years ended May 31, 2015, May 25, 2014 and May 26, 2013, respectively, but were not included in the computation of diluted net income per share because the options’ exercise price were greater than the average market price of the Common Stock and, therefore, their inclusion would be antidilutive.
Cost of Sales, Policy [Policy Text Block]	Cost of Sales The Company includes in cost of sales all the costs related to the sale of products. These costs include the following: raw materials (including produce, seeds, packaging, syringes and fermentation and purification supplies), direct labor, overhead (including indirect labor, depreciation, and facility related costs) and shipping and shipping related costs.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Expenses Costs related to both research and development contracts and Company-funded research is included in research and development expenses. Research and development costs are primarily comprised of salaries and related benefits, supplies, travel expenses, consulting expenses and corporate allocations.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Accounting for Stock-Based Compensation The Company records compensation expense for stock-based awards issued to employees and directors in exchange for services provided based on the estimated fair value of the awards on their grant dates and is recognized over the required service periods (generally the vesting period). For nonstatutory options, the cash flows resulting from the tax benefit due to tax deductions in excess of the compensation expense recognized for those options (excess tax benefit) are classified as financing activities within the statement of cash flows. The Company’s stock-based awards include stock option grants and restricted stock unit awards (“RSUs”). The following table summarizes the stock-based compensation for options and RSUs (in thousands): Fiscal Year Ended May 31, 2015 Fiscal Year Ended May 25, 2014 Fiscal Year Ended May 26, 2013 Options $ 561 $ 558 $ 788 RSUs 1,016 798 907 Total stock-based compensation expense $ 1,577 $ 1,356 $ 1,695 The following table summarizes the stock-based compensation by income statement line item (in thousands): Fiscal Year Ended May 31, 2015 Fiscal Year Ended May 25, 2014 Fiscal Year Ended May 26, 2013 Research and development $ 38 $ 39 $ 718 Sales, general and administrative 1,539 1,317 977 Total stock-based compensation expense $ 1,577 $ 1,356 $ 1,695 The estimated fair value for stock options, which determines the Company’s calculation of compensation expense, is based on the Black-Scholes option pricing model. RSUs are valued at the closing market price of the Company’s common stock on the date of grant. The Company uses the straight line single option method to calculate and recognize the fair value of stock-based compensation arrangements. In addition, the Company uses historical data to estimate pre-vesting forfeitures and records stock-based compensation expense only for those awards that are expected to vest and revises those estimates in subsequent periods if the actual forfeitures differ from the prior estimates. Fiscal Year Ended May 31, 2015 Fiscal Year Ended May 25, 2014 Fiscal Year Ended May 26, 2013 Expected life (in years) 3.25 3.50 3.76 Risk-free interest rate 1.00 % 0.71 % 0.48 % Volatility 0.32 0.41 0.53 Dividend yield 0 % 0 % 0 % The weighted average estimated fair value of Landec employee stock options granted at grant date market prices during the fiscal years ended May 31, 2015, May 25, 2014 and May 26, 2013 was $3.42, $4.41 and $3.57 per share, respectively. No stock options were granted above or below grant date market prices during the fiscal years ended May 31, 2015, May 25, 2014 and May 26, 2013.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The Company uses fair value measurement accounting for financial assets and liabilities and for financial instruments and certain other items measured at fair value. The Company has elected the fair value option for its investment in a non-public company (see Note 2 to the Consolidated Financial Statements). The Company has not elected the fair value option for any of its other eligible financial assets or liabilities. The accounting guidance established a three-tier hierarchy for fair value measurements, which prioritizes the inputs used in measuring fair value as follows: Level 1 – observable inputs such as quoted prices for identical instruments in active markets. Level 2 – inputs other than quoted prices in active markets that are observable either directly or indirectly through corroboration with observable market data. Level 3 – unobservable inputs in which there is little or no market data, which would require the Company to develop its own assumptions. As of May 31, 2015, the only asset of the Company that was measured at fair value on a recurring basis was its minority interest investment in Windset. The Company has elected the fair value option of accounting for its investment in Windset. The calculation of fair value utilizes significant unobservable inputs in the discounted cash flow models, including projected cash flows, growth rates and discount rates. As a result, the Company’s investment in Windset is considered to be a Level 3 measurement investment. The change in the fair market value of the Company’s investment in Windset for the fiscal years ended May 31, 2015 and May 25, 2014 was due to the Company’s 26.9% and 20.1%, respectively, minority interest in the change in the fair market value of Windset during those periods. In determining the fair value of the investment in Windset, the Company utilizes the following significant unobservable inputs in the discounted cash flow models: At May 31, 2015 At May 25, 2014 Annual consolidated revenue growth rates 4 % 4 % Annual consolidated expense growth rates 4 % 4 % Consolidated income tax rates 15 % 15 % Consolidated discount rates 15% to 21 % 16% to 22 % The revenue growth, expense growth and income tax rate assumptions, consider the Company's best estimate of the trends in those items over the discount period. The discount rate assumption takes into account the risk-free rate of return, the market equity risk premium and the company’s specific risk premium and then applies an additional discount for lack of marketability of the underlying securities. The discounted cash flow valuation model used by the Company has the following sensitivity to changes in inputs and assumptions (in thousands): Impact on value of Windset investment as of May 31, 2015 10% increase in revenue growth rates $ 2,300 10% increase in expense growth rates $ (1,200 ) 10% increase in income tax rates $ (100 ) 10% increase in discount rates $ (1,500 ) Imprecision in estimating unobservable market inputs can affect the amount of gain or loss recorded for a particular position. The use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The following table summarizes the fair value of the Company’s assets and liabilities that are measured at fair value on a recurring basis, as of May 31, 2015 and May 25, 2014 (in thousands): Fair Value at May 31, 2015 Fair Value at May 25, 2014 Assets: Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Marketable securities $ - $ - $ - $ - $ - $ - Investment in private company - - 61,500 - - 39,600 Total $ - $ - $ 61,500 $ - $ - $ 39,600 Liabilities: Interest rate swap - - - - 44 - Total $ - $ - $ - $ - $ 44 $ -
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Revenue Recognition In May 2014, the FASB issued Accounting Standard Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (Topic 606) ("ASU 2014-09"), which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard requires entities to recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance also includes a cohesive set of disclosure requirements intended to provide users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from a company’s contracts with customers. ASU 2014-09 will be effective beginning the first quarter of the Company's fiscal year 2019 and early application is not permitted. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all of the periods presented, or “modified retrospective” adoption, meaning the standard is applied only to the most current period presented in the financial statements. Management is currently evaluating the effect ASU 2014-09 will have on the Company's Consolidated Financial Statements and disclosures.

Note 1 - Organization, Basis 21

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Balance at beginning of period Additions from acquisitions and adjustments charged to revenue and expenses Write offs, net of recoveries Balance at end of period Year ended May 26, 2013 $ 512 $ 109 $ (38 ) $ 583 Year ended May 25, 2014 $ 583 $ 143 $ (210 ) $ 516 Year ended May 31, 2015 $ 516 $ — $ (134 ) $ 382
Revenue Recognition, Multiple-deliverable Arrangements [Table Text Block]	Year ended May 31 , 201 5 Year ended May 25 , 201 4 Year ended May 26 , 201 3 Recorded upon shipment $ 465,484 $ 398,938 $ 359,518 Recorded upon acceptance in foreign port 67,714 69,710 78,442 Revenue from multiple element arrangements 4,253 6,811 1,773 Revenue from license fees, R&D contracts and royalties/profit sharing 1,806 1,354 1,975 Total $ 539,257 $ 476,813 $ 441,708
Schedule of Inventory, Current [Table Text Block]	May 31, 2015 May 25, 2014 Finished goods $ 13,271 $ 11,111 Raw materials 9,879 10,376 Work in progress 1,877 3,248 Inventories, net $ 25,027 $ 24,735
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Fiscal Year Ended May 31, 2015 Fiscal Year Ended May 25, 2014 Fiscal Year Ended May 26, 2013 Numerator: Net income applicable to Common Stockholders $ 13,544 $ 19,145 $ 22,587 Denominator: Weighted average shares for basic net income per share 26,884 26,628 25,830 Effect of dilutive securities: Stock options and restricted stock units 452 492 796 Weighted average shares for diluted net income per share 27,336 27,120 26,626 Diluted net income per share $ 0.50 $ 0.71 $ 0.85
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Fiscal Year Ended May 31, 2015 Fiscal Year Ended May 25, 2014 Fiscal Year Ended May 26, 2013 Options $ 561 $ 558 $ 788 RSUs 1,016 798 907 Total stock-based compensation expense $ 1,577 $ 1,356 $ 1,695 Fiscal Year Ended May 31, 2015 Fiscal Year Ended May 25, 2014 Fiscal Year Ended May 26, 2013 Research and development $ 38 $ 39 $ 718 Sales, general and administrative 1,539 1,317 977 Total stock-based compensation expense $ 1,577 $ 1,356 $ 1,695
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Fiscal Year Ended May 31, 2015 Fiscal Year Ended May 25, 2014 Fiscal Year Ended May 26, 2013 Expected life (in years) 3.25 3.50 3.76 Risk-free interest rate 1.00 % 0.71 % 0.48 % Volatility 0.32 0.41 0.53 Dividend yield 0 % 0 % 0 %
Schedule of Effect of Significant Unobservable Inputs for Investment [TableText Block]	At May 31, 2015 At May 25, 2014 Annual consolidated revenue growth rates 4 % 4 % Annual consolidated expense growth rates 4 % 4 % Consolidated income tax rates 15 % 15 % Consolidated discount rates 15% to 21 % 16% to 22 %
Schedule of Sensitivity Analysis of Fair Value, Transferor's Interests in Transferred Financial Assets [Table Text Block]	Impact on value of Windset investment as of May 31, 2015 10% increase in revenue growth rates $ 2,300 10% increase in expense growth rates $ (1,200 ) 10% increase in income tax rates $ (100 ) 10% increase in discount rates $ (1,500 )
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Fair Value at May 31, 2015 Fair Value at May 25, 2014 Assets: Level 1 Level 2 Level 3 Level 1 Level 2 Level 3 Marketable securities $ - $ - $ - $ - $ - $ - Investment in private company - - 61,500 - - 39,600 Total $ - $ - $ 61,500 $ - $ - $ 39,600 Liabilities: Interest rate swap - - - - 44 - Total $ - $ - $ - $ - $ 44 $ -

Note 3 - Property and Equipme22

Note 3 - Property and Equipment (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Property, Plant and Equipment [Table Text Block]	Years of Useful Life May 31, 2015 May 25, 2014 Land and building 15- 40 $ 57,426 $ 56,378 Leasehold improvements 3- 20 1,360 1,079 Computer, capitalized software, machinery, equipment and auto 3- 20 68,260 53,715 Furniture and fixtures 3- 7 804 824 Construction in process 6,837 6,975 Gross property and equipment 134,687 118,971 Less accumulated depreciation and amortization (50,222 ) (44,831 ) Net property and equipment $ 84,465 $ 74,140

Note 4 - Intangible Assets (Tab

Note 4 - Intangible Assets (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	Trademarks & Trade names Customer Relationships Total Balance as of May 27, 2012 $ 48,428 $ 10,557 $ 58,985 Amortization expense — (951 ) (951 ) Balance as of May 26, 2013 48,428 9,606 58,034 Amortization expense — (886 ) (886 ) Balance as of May 25, 2014 48,428 8,720 57,148 Amortization expense — (885 ) (885 ) Balance as of May 31, 2015 $ 48,428 $ 7,835 $ 56,263

Note 5 - Stockholders' Equity (

Note 5 - Stockholders' Equity (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Schedule of Share-based Compensation, Activity [Table Text Block]	Restricted Stock Outstanding Stock Options Outstanding RSUs and Options Available for Grant Number of Restricted Shares Weighted Average Grant Date Fair Value Number of Stock Options Weighted Average Exercise Price Balance at May 27, 2012 449,643 348,166 $ 5.93 2,046,432 $ 6.50 Granted (26,666 ) 6,666 $ 9.01 20,000 $ 9.01 Awarded/Exercised — (231,086 ) $ 5.74 (671,563 ) $ 6.30 Forfeited — (28,416 ) $ 6.20 (44,977 ) $ 6.34 Plan shares expired — — — (10,000 ) $ 13.32 Balance at May 26, 2013 422,977 95,330 $ 6.52 1,339,892 $ 6.58 Additional shares reserved 2,000,000 — — — — Granted (420,131 ) 128,631 $ 14.30 291,500 $ 14.30 Awarded/Exercised — (62,499 ) $ 6.18 (398,080 ) $ 6.45 Forfeited — (12,162 ) $ 8.86 (12,452 ) $ 6.66 Plan shares expired (2,846 ) — — (5,000 ) $ 13.32 Balance at May 25, 2014 2,000,000 149,300 $ 13.17 1,215,860 $ 8.45 Granted (1,118,857 ) 324,357 $ 13.97 794,500 $ 14.20 Awarded/Exercised — (79,219 ) $ 11.57 (205,419 ) $ 6.55 Forfeited — (1,667 ) $ 14.30 (2,223 ) $ 14.30 Plan shares expired — — — (66,000 ) $ 11.32 Balance at May 31, 2015 881,143 392,771 $ 14.15 1,736,718 $ 11.19
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Options Outstanding Options Exercisable Range of Exercise Prices Number of Shares Outstanding Weighted Average Remaining Contractual Life (in years) Weighted Average Exercise Price Aggregate Intrinsic Value Number of Shares Exercisable Weighted Aggregate $ 5.00 - $6.00 317,750 2.10 $ 5.65 $ 2,746,675 317,750 $ 5.65 $ 2,746,675 $ 6.01 - $9.00 315,191 1.83 $ 6.46 $ 2,466,904 315,191 $ 6.46 $ 2,466,904 $ 9.01 - $14.00 140,000 6.14 $ 12.57 $ 240,900 30,732 $ 10.55 $ 115,027 $14.01- $14.39 963,777 6.39 $ 14.36 $ — 185,791 $ 14.30 $ — $ 5.00 - $14.39 1,736,718 4.76 $ 11.19 $ 5,454,479 849,464 $ 8.02 $ 5,328,606
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]	Outstanding Options Weighted Average Exercise Price Weighted Average Remaining Contract Term (in years) Aggregate Intrinsic Value Vested 849,464 $ 8.02 2.74 $ 5,328,606 Expected to vest 861,612 $ 14.22 6.69 123,261 Total 1,711,076 $ 11.14 4.73 $ 5,451,867

Note 6 - Debt (Tables)

Note 6 - Debt (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	May 31, 2015 May 25, 2014 Real estate loan agreement with General Electric Capital Corporation (“GE Capital”); due in monthly principal and interest payments of $133,060 through May 1, 2022 with interest based on a fixed rate of 4.02% per annum $ 15,172 $ 16,137 Capital equipment loan with GE Capital; due in monthly principal and interest payments of $175,356 through May 1, 2019 with interest based on a fixed rate of 4.39% per annum 7,705 9,430 Capital equipment loan with GE Capital; due in monthly principal and interest payments of $95,120 through September 1, 2019 with interest based on a fixed rate of 3.68% per annum 6,476 — Capital equipment loan with GE Capital; due in monthly principal and interest payments of $55,828 through December 1, 2019 with interest based on a fixed rate of 3.74% per annum 3,907 — Capital equipment loan with Bank of America (“BofA”); due in monthly principal and interest payments of $68,274 through June 28, 2020 with interest based on a fixed rate of 2.79% per annum 3,819 — Term note with BMO Harris; due in monthly payments of $250,000 through May 23, 2016 with interest payable monthly at LIBOR plus 2% per annum 3,000 6,000 Industrial revenue bonds (“IRBs”) issued by Lifecore; due in annual payments through 2020 with interest at a variable rate set weekly by the bond remarketing agent (0.31% and 0.28% at May 31, 2015 and May 25, 2014, respectively) 2,440 2,805 Total 42,519 34,372 Less current portion (8,353 ) (6,055 ) Long-term portion $ 34,166 $ 28,317
Schedule of Maturities of Long-term Debt [Table Text Block]	GE and BofA GE RE Loan M&E Loans BMO Harris IRB Total FY 2016 1,005 3,973 3,000 375 8,353 FY 2017 1,047 4,130 — 390 5,567 FY 2018 1,089 4,293 — 400 5,782 FY 2019 1,134 4,461 — 410 6,005 FY 2020 1,180 5,050 — 425 6,655 Thereafter 9,717 — — 440 10,157 Total $ 15,172 $ 21,907 $ 3,000 $ 2,440 $ 42,519

Note 8 - Income Taxes (Tables)

Note 8 - Income Taxes (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	Year ended Year ended Year ended Current: May 31, 2015 May 25, 2014 May 26, 2013 Federal $ 3,480 $ 4,785 $ 2,808 State 43 157 (18 ) Foreign 71 56 56 Total 3,594 4,998 2,846 Deferred: Federal 3,789 5,059 6,218 State 363 526 388 Total 4,152 5,585 6,606 Income tax expense $ 7,746 $ 10,583 $ 9,452
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Year Ended May 31, 2015 Year Ended May 25, 2014 Year Ended May 26, 2013 Provision at U.S. statutory rate (1) $ 7,451 $ 10,405 $ 11,214 State income taxes, net of federal benefit 566 711 731 Change in valuation allowance 353 99 370 Tax-exempt interest — — — Tax credit carryforwards (375 ) (378 ) (801 ) Domestic manufacturing deduction (369 ) (406 ) (172 ) Change in value of contingent consideration — — (1,450 ) Other 120 152 (440 ) Total $ 7,746 $ 10,583 $ 9,452
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	May 31, 2015 May 25, 2014 Deferred tax assets: Net operating loss carryforwards $ 3,415 $ 3,630 Accruals and reserves 1,964 1,746 Stock-based compensation 662 723 Research and AMT credit carryforwards 515 495 Other 966 545 Gross deferred tax assets 7,522 7,139 Valuation allowance (1,234 ) (881 ) Net deferred tax assets 6,288 6,258 Deferred tax liabilities: Basis difference in investment in non-public company (10,753 ) (9,270 ) Depreciation and amortization (7,186 ) (5,705 ) Goodwill and other indefinite life intangibles (20,578 ) (19,360 ) Deferred tax liabilities (38,517 ) (34,335 ) Net deferred tax liabilities $ (32,229 ) $ (28,077 )
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]	As of May 31 , 201 5 May 25 , 201 4 May 26 , 201 3 Unrecognized tax benefits – beginning of the period $ 1,035 $ 998 $ 766 Gross increases – tax positions in prior period 17 7 103 Gross decreases – tax positions in prior period (141 ) (48 ) — Gross increases – current-period tax positions 76 78 129 Lapse of statute of limitations — — — Unrecognized tax benefits – end of the period $ 987 $ 1,035 $ 998

Note 9 - Commitments and Cont27

Note 9 - Commitments and Contingencies (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Amount FY 2016 $ 3,136 FY 2017 2,631 FY 2018 1,768 FY 2019 1,003 FY 2020 257 Thereafter 624 Total $ 9,419

Note 11 - Business Segment Re28

Note 11 - Business Segment Reporting (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]	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
Schedule of Segment Reporting Information, by Segment [Table Text Block]	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

Note 12 - Quarterly Consolida29

Note 12 - Quarterly Consolidated Financial Information (unaudited) (Tables)	12 Months Ended
	May. 31, 2015
Notes Tables
Schedule of Quarterly Financial Information [Table Text Block]	FY 2015 1st Quarter 2 nd 3rd Quarter 4th Quarter FY 2015 Revenues $ 133,614 $ 132,665 $ 138,530 $ 134,448 $ 539,257 Gross profit $ 14,188 $ 15,666 $ 16,885 $ 18,668 $ 65,407 Net income $ 2,353 $ 3,223 $ 3,772 $ 4,196 $ 13,544 Net income per basic share $ 0.09 $ 0.12 $ 0.14 $ 0.16 $ 0.50 Net income per diluted share $ 0.09 $ 0.12 $ 0.14 $ 0.15 $ 0.50 FY 2014 1st Quarter 2 nd 3rd Quarter 4th Quarter FY 2014 Revenues $ 109,479 $ 120,026 $ 126,379 $ 120,929 $ 476,813 Gross profit $ 12,532 $ 13,734 $ 20,155 $ 16,143 $ 62,564 Net income $ 4,752 $ 3,451 $ 6,400 $ 4,542 $ 19,145 Net income per basic share $ 0.18 $ 0.13 $ 0.24 $ 0.17 $ 0.72 Net income per diluted share $ 0.18 $ 0.13 $ 0.24 $ 0.17 $ 0.71 FY 2013 1st Quarter 2 nd 3rd Quarter 4th Quarter FY 2013 Revenues $ 102,074 $ 114,654 $ 117,867 $ 107,113 $ 441,708 Gross profit $ 13,763 $ 18,459 $ 17,508 $ 13,030 $ 62,760 Net income (loss) $ 4,366 $ 8,913 $ 4,789 $ 4,519 $ 22,587 Net income (loss) per basic share $ 0.17 $ 0.35 $ 0.19 $ 0.17 $ 0.87 Net income (loss) per diluted share $ 0.17 $ 0.34 $ 0.18 $ 0.17 $ 0.85

Note 1 - Organization, Basis 30

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies (Details Textual)	Mar. 01, 2015USD ($)	May. 31, 2015USD ($)$ / sharesshares	May. 25, 2014USD ($)$ / sharesshares	May. 26, 2013USD ($)$ / sharesshares
Customer Relationships [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life		12 years
Customer Relationships [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life		13 years
Minimum [Member] | Apio [Member]
Notes and Advances Receivable, Term		90 days
Minimum [Member] | Buildings and Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life		3 years
Minimum [Member] | Other Capitalized Property Plant and Equipment [Member]
Property, Plant and Equipment, Useful Life		3 years
Minimum [Member] | Software Development [Member]
Property, Plant and Equipment, Useful Life		3 years
Maximum [Member] | Apio [Member]
Notes and Advances Receivable, Term		270 days
Maximum [Member] | Buildings and Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life		40 years
Maximum [Member] | Other Capitalized Property Plant and Equipment [Member]
Property, Plant and Equipment, Useful Life		20 years
Maximum [Member] | Software Development [Member]
Property, Plant and Equipment, Useful Life		7 years
Apio [Member] | Apio Cooling, LP [Member]
Investment Ownership Percentage		60.00%
Apio [Member]
Notes and Advances Receivable		$ 0
Apio Cooling, LP [Member]
Stockholders' Equity Attributable to Noncontrolling Interest		$ 1,700,000	$ 1,700,000
Business Acquisition, Percentage of Voting Interests Acquired		60.00%
Aesthetic Sciences [Member]
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	$ 793,000
Windset [Member] | Cost of Sales [Member]
Revenue from Related Parties		$ 537,000	365,000	$ 316,000
Related Party Costs		1,600,000	1,600,000	2,100,000
Windset [Member] | Accounts Receivable, Related Parties [Member]
Accounts Receivable, Related Parties, Current		306,000	304,000
Windset [Member] | Accounts Payable, Related Parties [Member]
Accounts Payable, Related Parties		$ 244,000	$ 134,000
Windset [Member]
Investment Ownership Percentage		26.90%	20.10%
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | Costco and Wal-mart [Member]
Number of Major Customers		2	2
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | Costco [Member]
Concentration Risk, Percentage		21.00%	21.00%
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | Wal-mart [Member]
Concentration Risk, Percentage		11.00%	11.00%
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | International Customers [Member]
Concentration Risk, Percentage		30.00%	29.00%
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member]
Number of Major Customers		5	5
Concentration Risk, Percentage		46.00%	42.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Costco and Wal-mart [Member]
Number of Major Customers			2
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Costco [Member]
Concentration Risk, Percentage		15.00%	16.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Wal-mart [Member]
Concentration Risk, Percentage		13.00%	12.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member]
Number of Major Customers		2
Product Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | HA Based Biomaterials [Member] | Ophthalmic [Member]
Concentration Risk, Percentage		60.00%
Product Concentration Risk [Member] | Sales Revenue, Goods, Net [Member] | HA Based Biomaterials [Member] | Orthopedic [Member]
Concentration Risk, Percentage		20.00%
HA Based Biomaterials [Member]
Number of Product Segments		3
Goodwill		$ 13,900,000	$ 13,900,000	13,900,000
Food Products Technology [Member]
Goodwill		35,700,000	35,700,000	35,700,000
Goodwill, Impairment Loss		0	0	0
Stockholders' Equity Attributable to Noncontrolling Interest		$ 1,677,000	1,692,000
Number of Proprietary Platforms		2
Advertising Expense		$ 1,300,000	447,000	445,000
Accounts Receivable, Related Parties, Current		306,000	304,000
Capitalized Computer Software, Additions		509,000	913,000	$ 0
Goodwill		49,620,000	$ 49,620,000
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net		793,000
Deferred Revenue		843,000	$ 1,300,000
Deferred Tax Assets, Valuation Allowance		$ 1,234,000	$ 881,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares		371,115	333,993	88,022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ / shares		$ 14.02	$ 14.15	$ 12.80
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares		$ 3.42	$ 4.41	$ 3.57

Note 1 - Organization, Basis 31

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Allowance for Sales Returns and Doubtful Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Balance at beginning of period	$ 516	$ 583	$ 512
Additions from acquisitions and adjustments charged to revenue and expenses		143	109
Write offs, net of recoveries	$ (134)	(210)	(38)
Balance at end of period	$ 382	$ 516	$ 583

Note 1 - Organization, Basis 32

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Revenue Arrangements (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Revenue Recorded Upon Shipment [Member]
Revenue	$ 465,484	$ 398,938	$ 359,518
Revenue Recorded Upon Acceptance in Foreign Port [Member]
Revenue	67,714	69,710	78,442
Revenue from License Fees, R&D Contracts and Royalties/Profit Sharing [Member]
Revenue	4,253	6,811	1,773
Revenue from Multiple Element Arrangements [Member]
Revenue	1,806	1,354	1,975
Revenue	$ 539,257	$ 476,813	$ 441,708

Note 1 - Organization, Basis 33

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Components of Inventories (Details) - USD ($) $ in Thousands	May. 31, 2015	May. 25, 2014
Finished goods	$ 13,271	$ 11,111
Raw materials	9,879	10,376
Work in progress	1,877	3,248
Inventories, net	$ 25,027	$ 24,735

Note 1 - Organization, Basis 34

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Diluted Net Income Per Share (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Numerator:
Net income applicable to Common Stockholders	$ 13,544	$ 19,145	$ 22,587
Denominator:
Weighted average shares for basic net income per share (in shares)	26,884	26,628	25,830
Effect of dilutive securities:
Stock options and restricted stock units (in shares)	452	492	796
Weighted average shares for diluted net income per share (in shares)	27,336	27,120	26,626
Diluted net income per share (in dollars per share)	$ 0.50	$ 0.71	$ 0.85

Note 1 - Organization, Basis 35

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Summary of Stock-based Compensation by Income Statement Line Item (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Employee Stock Option [Member]
Stock-based compensation expense	$ 561	$ 558	$ 788
Restricted Stock Units (RSUs) [Member]
Stock-based compensation expense	1,016	798	907
Research and Development Expense [Member]
Stock-based compensation expense	38	39	718
Selling, General and Administrative Expenses [Member]
Stock-based compensation expense	1,539	1,317	977
Stock-based compensation expense	$ 1,577	$ 1,356	$ 1,695

Note 1 - Organization, Basis 36

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Fair Value of Stock Option, Weighted Average Assumptions (Details)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Expected life (in years)	3 years 91 days	3 years 182 days	3 years 277 days
Risk-free interest rate	1.00%	0.71%	0.48%
Volatility	0.32%	0.41%	0.53%
Dividend yield	0.00%	0.00%	0.00%

Note 1 - Organization, Basis 37

Note 1 - Organization, Basis of Presentation, and Summary of Significant Accounting Policies - Significant Unobservable Inputs Used in Discounted Cash Flow Models (Details)	12 Months Ended
	May. 31, 2015	May. 25, 2014
Minimum [Member]
Consolidated discount rates	15.00%	16.00%
Maximum [Member]
Consolidated discount rates	21.00%	22.00%
Annual consolidated revenue growth rates	4.00%	4.00%
Annual consolidated expense growth rates	4.00%	4.00%
Consolidated income tax rates	15.00%	15.00%

Note 1 - Organization, Basis 38

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies - Assumptions Used in Discounted Cash Flow Models (Details) $ in Millions	May. 31, 2015USD ($)
10% increase in revenue growth rates	$ 2.3
10% increase in expense growth rates	(1.2)
10% increase in income tax rates	(0.1)
10% increase in discount rates	$ (1.5)

Note 1 - Organization, Basis 39

Note 1 - Organization, Basis of Presentation and Summary of Significant Accounting Policies - Summary of Fair Value of Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands	May. 31, 2015	May. 25, 2014
Fair Value, Inputs, Level 1 [Member]
Investment in private company
Total
Liabilities:
Interest rate swap
Total
Fair Value, Inputs, Level 2 [Member]
Investment in private company
Total
Liabilities:
Interest rate swap		$ 44
Total		44
Fair Value, Inputs, Level 3 [Member]
Investment in private company	$ 61,500	39,600
Total	$ 61,500	$ 39,600
Liabilities:
Interest rate swap
Total

Note 2 - Investments in Non-p40

Note 2 - Investments in Non-public Companies (Details Textual) - USD ($)	Mar. 01, 2015	Jul. 15, 2014	Oct. 29, 2014	Feb. 15, 2011	May. 31, 2015	May. 25, 2014	May. 26, 2013
Aesthetic Sciences [Member] | Other Comprehensive Income (Loss) [Member]
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net					$ 793,000
Aesthetic Sciences [Member]
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net	$ 793,000
Windset [Member] | Senior A Preferred Stock [Member] | Apio [Member]
Investment In Non Public Company Shares				150,000
Payments to Acquire Investments				$ 15,000,000
Preferred Stock, Liquidation Preference, Value					15,000,000
Windset [Member] | Common Stock [Member] | Apio [Member]
Investment In Non Public Company Shares		68		201
Payments to Acquire Investments				$ 201
Windset [Member] | Junior Preferred Shares [Member] | Apio [Member]
Investment In Non Public Company Shares		51,211
Preferred Stock, Liquidation Preference, Value					5,100,000
Windset [Member] | Senior B Preferred Stock [Member] | Apio [Member] | First Anniversary [Member]
Investments, Value of Shares with Put Option			$ 1,500,000
Windset [Member] | Senior B Preferred Stock [Member] | Apio [Member] | Second Anniversary [Member]
Investments, Value of Shares with Put Option			2,750,000
Windset [Member] | Senior B Preferred Stock [Member] | Apio [Member] | Third Anniversary [Member]
Investments, Value of Shares with Put Option			$ 2,750,000
Windset [Member] | Senior B Preferred Stock [Member] | Apio [Member]
Investment In Non Public Company Shares			70,000
Preferred Stock, Dividend Rate, Percentage			7.50%
Payments to Increase Investment In Non Public Company			$ 7,000,000
Windset [Member] | Apio [Member]
Payments to Acquire Investments		$ 11,000,000
Preferred Stock, Liquidation Preference, Value					20,100,000
Windset [Member] | Other Income [Member]
Gain (Loss) on Investments					$ 3,900,000	$ 10,000,000	$ 8,100,000
Windset [Member]
Investment Ownership Percentage		26.90%
Preferred Stock, Dividend Rate, Percentage					7.50%
Investment Income, Dividend					$ 1,400,000	$ 1,100,000	$ 1,100,000
Other than Temporary Impairment Losses, Investments, Portion Recognized in Earnings, Net					793,000
Payments to Acquire Investments					18,000,000
Investment Income, Dividend					$ 1,417,000	$ 1,125,000	$ 1,125,000

Note 3 - Property and Equipme41

Note 3 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Capitalized Computer Software, Net	$ 1,100,000	$ 1,100,000
Capital Leases, Balance Sheet, Assets by Major Class, Net	0	0
Depreciation, Depletion and Amortization, Nonproduction	6,200,000	6,200,000	$ 6,300,000
Capitalized Computer Software, Amortization	$ 158,000	$ 189,000	$ 160,000

Note 3 - Property and Equipme42

Note 3 - Property and Equipment - Components of Property and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014
Land and Building [Member] | Minimum [Member]
Years of Useful Life	15 years
Land and Building [Member] | Maximum [Member]
Years of Useful Life	40 years
Land and Building [Member]
Gross property and equipment	$ 57,426	$ 56,378
Leasehold Improvements [Member] | Minimum [Member]
Years of Useful Life	3 years
Leasehold Improvements [Member] | Maximum [Member]
Years of Useful Life	20 years
Leasehold Improvements [Member]
Gross property and equipment	$ 1,360	1,079
Computer Capitalized Software Machinery Equipment and Auto [Member] | Minimum [Member]
Years of Useful Life	3 years
Computer Capitalized Software Machinery Equipment and Auto [Member] | Maximum [Member]
Years of Useful Life	20 years
Computer Capitalized Software Machinery Equipment and Auto [Member]
Gross property and equipment	$ 68,260	53,715
Furniture and Fixtures [Member] | Minimum [Member]
Years of Useful Life	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Years of Useful Life	7 years
Furniture and Fixtures [Member]
Gross property and equipment	$ 804	824
Construction in Progress [Member]
Gross property and equipment	6,837	6,975
Gross property and equipment	134,687	118,971
Less accumulated depreciation and amortization	(50,222)	(44,831)
Property and equipment, net	$ 84,465	$ 74,140

Note 4 - Intangible Assets (Det

Note 4 - Intangible Assets (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Food Products Technology [Member]
Goodwill	$ 35,700,000	$ 35,700,000	$ 35,700,000
HA Based Biomaterials [Member]
Goodwill	13,900,000	13,900,000	$ 13,900,000
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 872,000	872,000
Customer Relationships [Member] | Lifecore [Member]
Finite-Lived Intangible Asset, Useful Life	12 years
Customer Relationships [Member] | Apio [Member]
Finite-Lived Intangible Asset, Useful Life	13 years
Customer Relationships [Member]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 3,400,000	2,500,000
Lifecore [Member]
Finite-Lived Customer Relationships, Gross	3,700,000
Apio [Member]
Finite-Lived Customer Relationships, Gross	7,500,000
Goodwill	49,620,000	49,620,000
Goodwill, Impaired, Accumulated Impairment Loss	4,800,000	$ 4,800,000
Finite-Lived Intangible Assets, Amortization Expense, Year Two	885,000
Finite-Lived Intangible Assets, Amortization Expense, Year Three	885,000
Finite-Lived Intangible Assets, Amortization Expense, Year Four	885,000
Finite-Lived Intangible Assets, Amortization Expense, Year Five	885,000
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year	$ 885,000

Note 4 - Intangible Assets - Ot

Note 4 - Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Trademarks and Trade Names [Member]
Balance	$ 48,428	$ 48,428	$ 48,428
Amortization expense
Balance	$ 48,428	$ 48,428	$ 48,428
Customer Relationships [Member]
Balance	8,720	9,606	10,557
Amortization expense	(885)	(886)	(951)
Balance	7,835	8,720	9,606
Balance	57,148	58,034	58,985
Amortization expense	(885)	(886)	(951)
Balance	$ 56,263	$ 57,148	$ 58,034

Note 5 - Stockholders' Equity45

Note 5 - Stockholders' Equity (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013	May. 29, 2015	May. 27, 2012	Jul. 14, 2010
Directors Stock Option Plan 1995 [Member] | Optionee First Becomes Non Employee Director [Member]
Shares Purchasable With Non-statutory Stock Option	20,000
Directors Stock Option Plan 1995 [Member] | Served on Board of Directors for at Least Six Months [Member]
Shares Purchasable With Non-statutory Stock Option	10,000
Directors Stock Option Plan 1995 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	800,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	10,000
Stock Incentive Plan 2013 [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee	500,000
Stock Incentive Plan 2013 [Member] | Stock Grants and Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee	250,000
Stock Incentive Plan 2013 [Member] | Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Maximum Number of Shares Per Employee	500,000
Stock Incentive Plan 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	2,000,000
Stock Incentive Plan 2009 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,900,000
Share--based Compensation Arrangement by Share-based Payment Award Options and Non Option Equity Instruments Outstanding Number	865,834
Stock Incentive Plan 2005 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	861,038
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	168,550
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	205,419	398,080	671,563
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	1,736,718	1,215,860	1,339,892		2,046,432
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	30,000
Treasury Stock, Shares, Acquired	0	0	0
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant	881,143	2,000,000	422,977		449,643
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period	0	0
Common Stock, Voting Rights	1
Preferred Stock, Shares Authorized	2,000,000
Preferred Stock, Shares Outstanding	0
Common Stock, Capital Shares Reserved for Future Issuance	881,143
Shares Paid for Tax Withholding for Share Based Compensation	112,443	47,573	145,159
Payments Related to Tax Withholding for Share-based Compensation	$ 343,000	$ 1,271,000	$ 49,000
Share-based Compensation Arrangement by Share-based Payment Award, Options Vested, Outstanding Number	849,464	984,610
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares	887,254	231,250
Share Price				$ 14.29
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options	663,673
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value	$ 1,500,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 7,600,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 219 days
Stock Repurchase Program, Authorized Amount						$ 10,000,000

Note 5 - Stockholders' Equity -

Note 5 - Stockholders' Equity - Stock-based Compensation Activity (Details) - $ / shares	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Restricted Stock [Member]
Balance (in shares)	149,300	95,330	348,166
Balance (in dollars per share)	$ 13.17	$ 6.52	$ 5.93
Granted (in shares)	324,357	128,631	6,666
Granted (in dollars per share)	$ 13.97	$ 14.30	$ 9.01
Awarded/Exercised (in shares)	(79,219)	(62,499)	(231,086)
Awarded/Exercised (in dollars per share)	$ 11.57	$ 6.18	$ 5.74
Forfeited (in shares)	(1,667)	(12,162)	(28,416)
Forfeited (in dollars per share)	$ 14.30	$ 8.86	$ 6.20
Balance (in shares)	392,771	149,300	95,330
Balance (in dollars per share)	$ 14.15	$ 13.17	$ 6.52
Awarded/Exercised (in dollars per share)	11.57	6.18	5.74
Forfeited (in dollars per share)	$ 14.30	$ 8.86	6.20
Plan shares expired (in shares)
Granted (in dollars per share)	$ 13.97	$ 14.30	$ 9.01
Plan shares expired (in shares)
Employee Stock Option [Member]
Balance (in shares)	1,215,860	1,339,892	2,046,432
Balance (in dollars per share)	$ 8.45	$ 6.58	$ 6.50
Granted (in shares)	794,500	291,500	20,000
Granted (in dollars per share)	$ 14.20	$ 14.30	$ 9.01
Awarded/Exercised (in shares)	(205,419)	(398,080)	(671,563)
Awarded/Exercised (in dollars per share)	$ 6.55	$ 6.45	$ 6.30
Forfeited (in shares)	(2,223)	(12,452)	(44,977)
Forfeited (in dollars per share)	$ 14.30	$ 6.66	$ 6.34
Plan shares expired (in shares)	(66,000)	(5,000)	(10,000)
Plan shares expired (in dollars per share)	$ 11.32	$ 13.32	$ 13.32
Balance (in shares)	1,736,718	1,215,860	1,339,892
Balance (in dollars per share)	$ 11.19	$ 8.45	$ 6.58
Balance (in shares)	2,000,000	422,977	449,643
Balance (in dollars per share)	$ 14.15	$ 12.80
Granted (in shares)	(1,118,857)	(420,131)	(26,666)
Awarded/Exercised (in shares)	0	0
Balance (in shares)	881,143	2,000,000	422,977
Balance (in dollars per share)	$ 14.02	$ 14.15	$ 12.80
Additional shares reserved (in shares)		2,000,000
Plan shares expired (in shares)		(2,846)

Note 5 - Stockholders' Equity47

Note 5 - Stockholders' Equity - Stock Options Outstanding and Exercisable (Details) - USD ($)	12 Months Ended
	May. 31, 2015
Range 1 [Member]
Lower Range of Exercise Prices (in dollars per share)	$ 5
Upper Range of Exercise Prices (in dollars per share)	$ 6
Number of Shares Outstanding (in shares)	317,750
Options Outstanding Weighted Average Remaining Contractual Life	2 years 36 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 5.65
Options Outstanding Aggregate Intrinsic Value	$ 2,746,675
Options Exercisable Number of Shares Exercisable (in shares)	317,750
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 5.65
Options Exercisable Aggregate Intrinsic Value	$ 2,746,675
Range 2 [Member]
Lower Range of Exercise Prices (in dollars per share)	$ 6.01
Upper Range of Exercise Prices (in dollars per share)	$ 9
Number of Shares Outstanding (in shares)	315,191
Options Outstanding Weighted Average Remaining Contractual Life	1 year 302 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 6.46
Options Outstanding Aggregate Intrinsic Value	$ 2,466,904
Options Exercisable Number of Shares Exercisable (in shares)	315,191
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 6.46
Options Exercisable Aggregate Intrinsic Value	$ 2,466,904
Range 3 [Member]
Lower Range of Exercise Prices (in dollars per share)	$ 9.01
Upper Range of Exercise Prices (in dollars per share)	$ 14
Number of Shares Outstanding (in shares)	140,000
Options Outstanding Weighted Average Remaining Contractual Life	6 years 51 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 12.57
Options Outstanding Aggregate Intrinsic Value	$ 240,900
Options Exercisable Number of Shares Exercisable (in shares)	30,732
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 10.55
Options Exercisable Aggregate Intrinsic Value	$ 115,027
Range 4 [Member]
Lower Range of Exercise Prices (in dollars per share)	$ 14.01
Upper Range of Exercise Prices (in dollars per share)	$ 14.39
Number of Shares Outstanding (in shares)	963,777
Options Outstanding Weighted Average Remaining Contractual Life	6 years 142 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 14.36
Options Outstanding Aggregate Intrinsic Value
Options Exercisable Number of Shares Exercisable (in shares)	185,791
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 14.30
Options Exercisable Aggregate Intrinsic Value
Range 5 [Member]
Lower Range of Exercise Prices (in dollars per share)	$ 5
Upper Range of Exercise Prices (in dollars per share)	$ 14.39
Number of Shares Outstanding (in shares)	1,736,718
Options Outstanding Weighted Average Remaining Contractual Life	4 years 277 days
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 11.19
Options Outstanding Aggregate Intrinsic Value	$ 5,454,479
Options Exercisable Number of Shares Exercisable (in shares)	849,464
Options Exercisable Weighted Average Exercise Price (in dollars per share)	$ 8.02
Options Exercisable Aggregate Intrinsic Value	$ 5,328,606
Options Outstanding Weighted Average Exercise Price (in dollars per share)	$ 14.02

Note 5 - Stockholders' Equity48

Note 5 - Stockholders' Equity - Vested and Expected to Vest Option Awards (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options Vested, Outstanding Number	849,464
Vested (in dollars per share)	$ 8.02
Vested	2 years 270 days
Vested	$ 5,328,606
Expected to vest (in shares)	861,612
Expected to vest (in dollars per share)	$ 14.22
Expected to vest	6 years 251 days
Expected to vest	$ 123,261
Total (in shares)	1,711,076
Total (in dollars per share)	$ 11.14
Total	4 years 266 days
Total	$ 5,451,867

Note 6 - Debt (Details Textual)

Note 6 - Debt (Details Textual)	May. 31, 2015USD ($)	May. 22, 2015USD ($)	May. 23, 2012USD ($)	Jul. 17, 2014USD ($)	Jul. 16, 2014USD ($)	May. 23, 2012USD ($)	May. 30, 2010	May. 31, 2015USD ($)	May. 31, 2015USD ($)	May. 25, 2014USD ($)	May. 26, 2013USD ($)	May. 15, 2015USD ($)	Nov. 24, 2014USD ($)	Aug. 28, 2014USD ($)
Commitment Letter [Member] | Apio [Member] | GE Capital [Member]
Long-term Line of Credit	$ 0							$ 0	$ 0
Old Commitment Letter [Member] | Apio [Member] | GE Capital [Member]
Long-term Line of Credit	0							0	$ 0
Capital Equipment Loan [Member] | Apio [Member]
Long-term Line of Credit													$ 4,100,000	$ 7,100,000
Line of Credit Facility, Maximum Borrowing Capacity				$ 25,000,000
Line of Credit Facility, Maximum Borrowing Capacity				$ 25,000,000
Debt Instrument, Term				5 years
Line of Credit Facility Amortization Period				7 years
Debt Instrument, Interest Rate, Stated Percentage													3.74%	3.68%
Commitment Letter, Equipment Loan [Member] | Apio [Member] | GE Capital [Member]
Line of Credit Facility, Maximum Borrowing Capacity												$ 14,700,000
Line of Credit Facility, Maximum Borrowing Capacity												14,700,000
Debt Instrument, Term									5 years
Line of Credit Facility Amortization Period									7 years
Interest Rate Swap Term									5 years
Commitment Letter, Real Property Loan [Member] | Apio [Member] | GE Capital [Member]
Line of Credit Facility, Maximum Borrowing Capacity												7,700,000
Line of Credit Facility, Maximum Borrowing Capacity												7,700,000
Debt Instrument, Term									10 years
Line of Credit Facility Amortization Period									20 years
Interest Rate Swap Term									10 years
Term Loan [Member] | Lifecore [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate						2.00%
Term Loan [Member] | Lifecore [Member]
Debt Instrument, Term			4 years
Long-term Debt			$ 12,000,000			$ 12,000,000
Debt Instrument Monthly Payments			$ 250,000			$ 250,000
Term Loan [Member]
Long-term Debt	3,000,000							3,000,000	$ 3,000,000	$ 6,000,000
Apio [Member] | GE Capital and BofA [Member]
Capitalized Loan Origination Fees									$ 397,000	0
Apio [Member] | BofA [Member]
Line of Credit Facility, Maximum Borrowing Capacity												15,000,000
Line of Credit Facility, Maximum Borrowing Capacity												$ 15,000,000
Debt Instrument, Term									5 years
Line of Credit Facility Amortization Period									7 years
Interest Rate Swap Term									2 years 182 days
Apio [Member] | Revolving Credit Facility [Member] | GE Capital [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate				1.75%	2.00%
Apio [Member] | Revolving Credit Facility [Member] | GE Capital [Member]
Long-term Line of Credit	0							0	$ 0	0
Line of Credit Facility, Maximum Borrowing Capacity				$ 40,000,000	$ 25,000,000
Line of Credit Facility, Remaining Borrowing Capacity	30,300,000							30,300,000	$ 30,300,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage									0.375%
Line of Credit Facility, Maximum Borrowing Capacity				$ 40,000,000	$ 25,000,000
Apio [Member] | Amortization of Loan Origination Fees [Member]
Interest Expense, Other									$ 206,000	187,000	$ 181,000
Apio [Member] | Other Assets [Member]
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	1,200,000							1,200,000	$ 1,200,000	1,000,000
Apio [Member]
Minimum Fixed Charge Coverage Ratio									1.1
Line of Credit Facility Borrowing Availability Threshold	12,000,000							12,000,000	$ 12,000,000
Minimum Fixed Charge Coverage Ratio									1.1
Lifecore [Member] | Working Capital Line Of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate		1.85%
Lifecore [Member] | Working Capital Line Of Credit [Member]
Debt Instrument, Unused Borrowing Capacity, Fee	0
Line of Credit Facility, Maximum Borrowing Capacity		$ 10,000,000
Line of Credit Facility, Remaining Borrowing Capacity	9,400,000							$ 9,400,000	$ 9,400,000
Line of Credit Facility, Maximum Borrowing Capacity		$ 10,000,000
Line of Credit Facility, Expiration Period		2 years
Lifecore [Member]
Minimum Fixed Charge Coverage Ratio								1.1
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums	48,000							$ 48,000	48,000	98,000
Number of Financing Agreements			2			2
Letters of Credit Outstanding, Amount			$ 3,500,000			$ 3,500,000
Minimum Fixed Charge Coverage Ratio								1.1
Maximum Debt Cash Flow Leverage Ratio								2
Interest Rate Swap Term							5 years
Long-term Debt	$ 42,519,000							$ 42,519,000	$ 42,519,000	$ 34,372,000
Annual Remarketing Fee Percentage									0.125%
Annual Letter of Credit Fee Percentage									0.75%

Note 6 - Debt - Long-term Debt

Note 6 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands	May. 31, 2015	May. 25, 2014
Real Estate Loan [Member]
Long-term Debt	$ 15,172	$ 16,137
Capital Equipment Loan 1 [Member]
Long-term Debt	7,705	$ 9,430
Capital Equipment Loan 2 [Member]
Long-term Debt	6,476
Capital Equipment Loan 3 [Member]
Long-term Debt	3,907
Capital Equipment Loan 4 [Member]
Long-term Debt	3,819
Term Loan [Member]
Long-term Debt	3,000	$ 6,000
Industrial Revenue Bonds [Member]
Long-term Debt	2,440	2,805
Long-term Debt	42,519	34,372
Less current portion	(8,353)	(6,055)
Long-term portion	$ 34,166	$ 28,317

Note 6 - Debt - Future Minimum

Note 6 - Debt - Future Minimum Principal Payments of Debt (Details) - USD ($) $ in Thousands	May. 31, 2015
Real Estate Loan [Member]
FY 2,016	$ 1,005
FY 2,017	1,047
FY 2,018	1,089
FY 2,019	1,134
FY 2,020	1,180
Thereafter	9,717
Total	15,172
M and E Loans [Member]
FY 2,016	3,973
FY 2,017	4,130
FY 2,018	4,293
FY 2,019	4,461
FY 2,020	$ 5,050
Thereafter
Total	$ 21,907
Term Loan [Member]
FY 2,016	$ 3,000
FY 2,017
FY 2,018
FY 2,019
FY 2,020
Thereafter
Total	$ 3,000
Industrial Revenue Bonds [Member]
FY 2,016	375
FY 2,017	390
FY 2,018	400
FY 2,019	410
FY 2,020	425
Thereafter	440
Total	2,440
FY 2,016	8,353
FY 2,017	5,567
FY 2,018	5,782
FY 2,019	6,005
FY 2,020	6,655
Thereafter	10,157
Total	$ 42,519

Note 7 - Derivative Financial52

Note 7 - Derivative Financial Instruments (Details Textual) - USD ($)	1 Months Ended
	May. 30, 2010	May. 31, 2015	May. 25, 2014
Interest Rate Swap Term	5 years
Derivative, Notional Amount	$ 20,000,000
Derivative, Swaption Interest Rate	4.24%
Derivative Asset, Notional Amount	$ 20,000,000
Derivative Liability, Fair Value, Gross Liability		$ 0	$ 44,000

Note 8 - Income Taxes (Details

Note 8 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013	May. 27, 2012
Domestic Tax Authority [Member] | Earliest Tax Year [Member]
Open Tax Year	1,997
Domestic Tax Authority [Member]
Operating Loss Carryforwards	$ 7,800,000
State and Local Jurisdiction [Member] | California Franchise Tax Board [Member]
Operating Loss Carryforwards	800,000
Deferred Tax Asset, Operating Loss, Recorded to Additional Paid in Capital	500,000
Deferred Tax Assets, Tax Credit Carryforwards, Research	1,600,000
Deferred Tax Asset, Research and Development Credit, Recorded to Additional Paid in Capital	1,100,000
State and Local Jurisdiction [Member] | Indiana [Member]
Operating Loss Carryforwards	6,600,000
State and Local Jurisdiction [Member] | Other States, Tax Board [Member]
Operating Loss Carryforwards	$ 13,300,000
State and Local Jurisdiction [Member] | Earliest Tax Year [Member]
Open Tax Year	1,998
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%	35.00%
Decrease in Net Income Before Taxes	28.00%	7.00%
Effective Income Tax Rate Reconciliation, Percent		36.00%	30.00%
Deferred Tax Assets, Valuation Allowance	$ 1,234,000	$ 881,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount	353,000
Unrecognized Tax Benefits	987,000	1,035,000	$ 998,000	$ 766,000
Unrecognized Tax Benefits that Would Impact Effective Tax Rate	$ 800,000	$ 817,000

Note 8 - Income Taxes - Provisi

Note 8 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Federal	$ 3,480	$ 4,785	$ 2,808
State	43	157	(18)
Foreign	71	56	56
Total	3,594	4,998	2,846
Deferred:
Federal	3,789	5,059	6,218
State	363	526	388
Total	4,152	5,585	6,606
Total	$ 7,746	$ 10,583	$ 9,452

Note 8 - Income Taxes - Income

Note 8 - Income Taxes - Income Tax Rate Reconcilliation (Details) - USD ($) $ in Thousands		12 Months Ended
		May. 31, 2015	May. 25, 2014	May. 26, 2013
Provision at U.S. statutory rate (1)	[1]	$ 7,451	$ 10,405	$ 11,214
State income taxes, net of federal benefit		566	711	731
Change in valuation allowance		$ 353	$ 99	$ 370
Tax-exempt interest
Tax credit carryforwards		$ (375)	$ (378)	$ (801)
Domestic manufacturing deduction		$ (369)	$ (406)	(172)
Change in value of contingent consideration				(1,450)
Other		$ 120	$ 152	(440)
Total		$ 7,746	$ 10,583	$ 9,452
[1]	Statutory rate was 35% for fiscal years 2015, 2014 and 2013.

Note 8 - Income Taxes - Deferre

Note 8 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	May. 31, 2015	May. 25, 2014
Deferred tax assets:
Net operating loss carryforwards	$ 3,415	$ 3,630
Accruals and reserves	1,964	1,746
Stock-based compensation	662	723
Research and AMT credit carryforwards	515	495
Other	966	545
Gross deferred tax assets	7,522	7,139
Valuation allowance	(1,234)	(881)
Net deferred tax assets	6,288	6,258
Deferred tax liabilities:
Basis difference in investment in non-public company	(10,753)	(9,270)
Depreciation and amortization	(7,186)	(5,705)
Goodwill and other indefinite life intangibles	(20,578)	(19,360)
Deferred tax liabilities	(38,517)	(34,335)
Net deferred tax liabilities	$ (32,229)	$ (28,077)

Note 8 - Income Taxes - Unrecog

Note 8 - Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Unrecognized tax benefits – beginning of the period	$ 1,035,000	$ 998,000	$ 766,000
Gross increases – tax positions in prior period	17,000	7,000	$ 103,000
Gross decreases – tax positions in prior period	(141,000)	(48,000)
Gross increases – current-period tax positions	$ 76,000	$ 78,000	$ 129,000
Lapse of statute of limitations
Unrecognized tax benefits – end of the period	$ 987,000	$ 1,035,000	$ 998,000

Note 9 - Commitments and Cont58

Note 9 - Commitments and Contingencies (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Capital Leased Assets, Gross	$ 0
Operating Leases, Rent Expense	5,000,000	$ 4,400,000	$ 4,800,000
Accrued Bonuses	1,000,000	$ 656,000
Purchase Commitment, Remaining Minimum Amount Committed	15,100,000
Payment on Purchase Commitments	$ 16,800,000

Note 9 - Commitments and Cont59

Note 9 - Commitments and Contingencies - Future Minimum Lease Payments Under Operating Leases, Excluding Land Leases (Details) $ in Thousands	May. 31, 2015USD ($)
FY 2,016	$ 3,136
FY 2,017	2,631
FY 2,018	1,768
FY 2,019	1,003
FY 2,020	257
Thereafter	624
Total	$ 9,419

Note 10 - Employee Savings an60

Note 10 - Employee Savings and Investment Plans (Details Textual) - USD ($)	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Minimum [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	1.00%
Maximum [Member]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	50.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	67.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 1,200,000	$ 1,100,000	$ 939,000

Note 11 - Business Segment Re61

Note 11 - Business Segment Reporting (Details Textual)	12 Months Ended
	May. 31, 2015
Number of Operating Segments	3

Note 11 - Business Segment Re62

Note 11 - Business Segment Reporting - Sales by Geograhic Area (Details) - USD ($) $ in Millions	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
CANADA
Segment sales	$ 79.7	$ 46.6	$ 27.8
TAIWAN, PROVINCE OF CHINA
Segment sales	32.1	30.7	31
INDONESIA
Segment sales	9	9.6	21
CHINA
Segment sales	9	8.2	5
JAPAN
Segment sales	8.5	9.9	10.6
BELGIUM
Segment sales	6.8	13.1	16.6
All Other Countries [Member]
Segment sales	$ 18.4	$ 19.1	$ 20.8

Note 11 - Business Segment Re63

Note 11 - Business Segment Reporting - Operations by Business Segment (Details) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 25, 2014	May. 26, 2013
Food Products Technology [Member]
Net sales	$ 430,415	$ 360,728	$ 320,447
International sales	80,500	47,224	27,532
Gross profit	45,993	36,318	37,077
Net income applicable to Common Stockholders	17,145	19,041	20,526
Identifiable assets	228,672	196,257	180,104
Depreciation and amortization	4,766	4,751	4,761
Capital expenditures	12,895	10,950	5,598
Dividend income	1,417	1,125	1,125
Interest income	32	12	42
Interest expense	1,655	1,402	1,707
Income tax expense	792	33	3,399
Food Export [Member]
Net sales	67,837	69,827	78,568
International sales	67,714	69,710	78,442
Gross profit	4,252	5,340	5,274
Net income applicable to Common Stockholders	1,041	1,973	1,660
Identifiable assets	27,746	25,391	21,737
Depreciation and amortization	$ 6	$ 6	$ 4
Capital expenditures
Dividend income
Interest income
Interest expense
Income tax expense	$ 48	$ 3	$ 339
HA Based Biomaterials [Member]
Net sales	40,432	45,704	41,281
International sales	15,246	20,312	26,792
Gross profit	14,609	20,456	19,102
Net income applicable to Common Stockholders	3,838	9,695	6,835
Identifiable assets	85,779	85,858	80,940
Depreciation and amortization	2,184	2,221	2,379
Capital expenditures	$ 4,499	$ 3,877	$ 3,190
Dividend income
Interest income	$ 254	$ 242	$ 137
Interest expense	174	248	301
Income tax expense	177	17	1,400
Corporate Segment [Member]
Net sales	$ 573	$ 554	$ 1,412
International sales
Gross profit	$ 553	$ 450	$ 1,307
Net income applicable to Common Stockholders	(8,480)	(11,564)	(6,434)
Identifiable assets	4,268	6,117	8,161
Depreciation and amortization	134	136	151
Capital expenditures	$ 117	$ 59	$ 89
Dividend income
Interest income	$ 29	$ 6
Interest expense
Income tax expense	$ 6,729	$ 10,530	$ 4,314
Net sales	539,257	476,813	441,708
International sales	163,460	137,246	132,766
Gross profit	65,407	62,564	62,760
Net income applicable to Common Stockholders	13,544	19,145	22,587
Identifiable assets	346,465	313,623	290,942
Depreciation and amortization	7,090	7,114	7,295
Capital expenditures	17,511	14,886	8,877
Dividend income	1,417	1,125	1,125
Interest income	315	260	179
Interest expense	1,829	1,650	2,008
Income tax expense	$ 7,746	$ 10,583	$ 9,452

Note 12 - Quarterly Consolida64

Note 12 - Quarterly Consolidated Financial Information (unaudited) - Summary of Unaudited Quarterly Results of Operations (Details) - USD ($) $ in Thousands	3 Months Ended												12 Months Ended
	May. 31, 2015	Mar. 01, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 25, 2014	Feb. 23, 2014	Nov. 24, 2013	Aug. 25, 2013	May. 26, 2013	Feb. 24, 2013	Nov. 25, 2012	Aug. 26, 2012	May. 31, 2015	May. 25, 2014	May. 26, 2013
Revenues	$ 134,448	$ 138,530	$ 132,665	$ 133,614	$ 120,929	$ 126,379	$ 120,026	$ 109,479	$ 107,113	$ 117,867	$ 114,654	$ 102,074	$ 539,257	$ 476,813	$ 441,708
Gross profit	18,668	16,885	15,666	14,188	16,143	20,155	13,734	12,532	13,030	17,508	18,459	13,763	65,407	62,564	62,760
Net income (loss)	$ 4,196	$ 3,772	$ 3,223	$ 2,353	$ 4,542	$ 6,400	$ 3,451	$ 4,752	$ 4,519	$ 4,789	$ 8,913	$ 4,366	$ 13,544	$ 19,145	$ 22,587
Net income per basic share (in dollars per share)	$ 0.16	$ 0.14	$ 0.12	$ 0.09	$ 0.17	$ 0.24	$ 0.13	$ 0.18	$ 0.17	$ 0.19	$ 0.35	$ 0.17	$ 0.50	$ 0.72	$ 0.87
Net income per diluted share (in dollars per share)	$ 0.15	$ 0.14	$ 0.12	$ 0.09	$ 0.17	$ 0.24	$ 0.13	$ 0.18	$ 0.17	$ 0.18	$ 0.34	$ 0.17	$ 0.50	$ 0.71	$ 0.85