Exhibit 99.1

LIFECORE BIOMEDICAL REPORTS RESULTS FOR SECOND QUARTER ENDED DECEMBER 31, 2005

Maintains Fiscal Year 2006 Guidance

CHASKA, MN. — January 17, 2006 — LIFECORE BIOMEDICAL, INC. (Nasdaq: LCBM) today reported record net sales of $15.2 million in the second quarter ended December 31, 2005, an increase of 7% over net sales of $14.2 million in the second quarter of fiscal year 2005. Foreign currency translation comparisons decreased current quarter sales by $191,000 compared to the second quarter of last fiscal year.

Fiscal second quarter GAAP net income of $1,391,000, or $.10 per diluted share, was posted for the quarter compared to GAAP net income of $2,380,000, or $.18 per diluted share, in the quarter ended December 31, 2004. Fiscal 2006 second quarter results include expenses for stock options in the amount of $181,000 and income tax expense of $840,000 at an effective rate of 38%. Pro-forma net income for the second quarter of fiscal 2006 was $1,572,000, or $.11 per diluted share, when the stock option expense is excluded. Pro-forma net income for the second quarter of last fiscal year was $1,569,000, or $.12 per diluted share, after applying an annual effective tax rate of 38%. (See Disclosure of Pro-Forma Information and Reconciliation of GAAP Net Income to Pro-Forma Net Income Information later in this press release.)

Sales for the first six months of fiscal year 2006 were $28.6 million, an increase of 8% over the $26.5 million reported for the first six months of fiscal year 2005. Foreign currency translation comparisons decreased sales by $196,000 in the first six months of fiscal 2006 compared to the same period of last fiscal year.

GAAP net income for the first six months of fiscal 2006 was $2,436,000, or $.18 per diluted share, compared to GAAP net income of $3,659,000, or $.28 per diluted share, for the first six months of fiscal 2005. Fiscal 2006 six month results include expenses for stock options in the amount of $371,000 and income tax expense of $1,403,000 at an annual effective rate of 37%. Pro-forma net income for the first six months of fiscal 2006 was $2,807,000, or $.21 per diluted share, when the stock option expense is excluded. Pro-forma net income for the first six months of fiscal 2005 was $2,461,000, or $.19 per diluted share, after applying an annual effective tax rate of 37%. (See Disclosure of Pro-Forma Information and Reconciliation of GAAP Net Income to Pro-Forma Net Income Information later in this press release.)

“With another solid quarter in both sales and profits, we continue to be pleased with our ability to drive profitable growth,” said Dennis J. Allingham, President and CEO. “Sales and profits for the quarter and six month periods compared favorably to our guidance.”

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The Company’s cash position is $18.3 million at December 31, 2005. Cash effects associated with the income tax expenses reflected in the current fiscal year were minimal due to the utilization of net operating loss carry forwards.

Hyaluronan Division

Net sales from the Hyaluronan Division for the second quarter were $4.6 million, an increase of 2% from the $4.5 million reported in the same quarter last year. Net sales for the first six months in fiscal year 2006 were $9.3 million compared to $9.2 million in the comparable period last year. Sales to orthopedic customers increased in both the quarter and six month periods.

The Division reported operating income of $896,000 for the second quarter compared to operating income of $853,000 in the second quarter of fiscal year 2005. Operating income of $2,012,000 was reported for the six month period compared to operating income of $2,172,000 in the same period last year.

Oral Restorative Division

Net sales from the Oral Restorative Division for the second quarter were a record $10.6 million; an increase of 9% from the $9.7 million recorded in the second quarter last year. Foreign currency translation comparisons decreased current quarter sales by $191,000 compared to the second quarter of last fiscal year. Net sales for the first six months in fiscal year 2006 were $19.3 million compared to $17.3 million in the comparable period last year; an increase of 12% attributed to higher domestic and international sales. Foreign currency translation comparisons decreased the first six months sales by $196,000 compared to the same period of last fiscal year.

The Division reported operating income of $1,292,000 for the second quarter compared to operating income of $1,323,000 in the second quarter of fiscal year 2005. Operating income of $1,743,000 was reported for the six month period compared to operating income of $1,683,000 in the same period last year.

During the fiscal second quarter the Oral Restorative Division incurred significant planned expenses related to the launch of its new Prima™ Implant System. The Company is looking forward to a favorable contribution from the sales of this product line in the second half of fiscal 2006.

Other Income

Currency transaction losses of $49,000 and $73,000 were reported for the second quarter and six month periods, respectively, compared to currency transaction gains of $113,000 and $198,000 in the second quarter and six month periods last fiscal year, respectively.

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A one-time pretax gain of $250,000 was recorded last fiscal year in the second quarter and six month periods as other income.

Outlook

In accordance with previously issued guidance the Company expects fiscal year 2006 sales to increase 11 to 13 percent over fiscal year 2005. Earnings per share are expected to be $.48 to $.51.

The Company expects sales of $15.3 to $15.7 million in the third quarter of fiscal year 2006 with earnings per diluted share of $.12 to $.14.

Disclosure of Pro-Forma Information

Lifecore reports its financial results in accordance with generally accepted accounting principles (“GAAP”) and additionally on a non-GAAP basis referred to as pro-forma. These pro-forma measures are not in accordance with, nor are they a substitute for, GAAP measures and may not be consistent with the presentation used by other companies. Lifecore uses the pro-forma financial measures to evaluate and manage the Company’s operations. Lifecore is providing this information to investors and analysts to facilitate performance of additional financial analysis, because it is consistent with financial models and estimates published by securities analysts, and because Lifecore’s management also evaluates the Company’s performance on this basis. See the discussion below and the attached reconciliation of GAAP net income to pro-forma net income information for an explanation and quantification of amounts excluded from pro-forma basis results.

Reconciliation of GAAP Net Income to Pro-Forma Net Income Information

As a result of the Company’s profitability and outlook for future periods, the Company concluded in the fourth quarter of fiscal year 2005 that it is likely to have sufficient taxable income in future periods to utilize its net operating loss (“NOL”) carry forwards. Accordingly, the Company now reports its net income as if fully taxed, using an effective tax rate of 38% for the second quarter and 37% for the first six months of fiscal 2006. The Company will realize the cash benefit of these NOL’s through lower actual taxes paid in future periods until the tax carry forwards are exhausted.

Pro-forma fiscal 2005 second quarter and six month results assume comparable effective income tax rates of 38% and 37%, respectively.

Included in fiscal 2006 second quarter and six month results are charges of $181,000 and $371,000, respectively, for expensing stock options pursuant to SFAS No. 123R, “Share-Based Payment”, which became effective July 1, 2005. The pro-forma results add back the expense to improve comparability between periods as stock option expense was not required to be recorded in last year’s results.

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Conference Call

As previously announced, the Company will host a conference call today at 3:45 p.m. Central Time to discuss second quarter results. A live web cast of the call is available through the Company’s website at www.lifecore.com. After selecting the INVESTOR INFO tab, select CALENDAR OF EVENTS from the INVESTOR INFO & RESEARCH menu at the right side of the page and follow the instructions for participation. A replay of the web cast will be available shortly after completion of the call. To select the archived replay, select AUDIO ARCHIVES from the INVESTOR INFO & RESEARCH tools menu at the right side of the screen. The conference call will also be available at www.earnings.com.

The conference call may include forward-looking statements. See the cautionary information about such statements in the “Safe-Harbor Statement” section below.

Safe-Harbor Statement

Certain statements in this release regarding Lifecore’s anticipated future sales and financial results are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Numerous risks and uncertainties may affect whether such results are actually achieved. These include the timing of orders from customers, continued market acceptance of the Company’s products, timing of regulatory approvals, success of new product development efforts, the likelihood and timing of the return of the Company’s adhesion prevention product to the market, and other factors. These risks and uncertainties are more fully described in the Company’s Annual Report on Form 10-K, including Exhibit 99.1, for the fiscal year ending June 30, 2005, and other, more recent filings. Actual results may differ materially from anticipated results.

About Lifecore Biomedical

Lifecore Biomedical develops, manufactures, and markets biomaterials and medical devices for use in various surgical markets.

News and general information are available through the Company’s website at www.lifecore.com or by telephone at 952-368-4300.

Contact:

Dennis J. Allingham, President and CEO
David M. Noel, Vice President of Finance and CFO

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Lifecore Biomedical, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)

	December 31,		June 30,
	2005		2005
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	18,323,000	$	18,508,000
Accounts receivable		11,033,000		10,171,000
Inventories		11,671,000		9,456,000
Deferred income taxes, net		5,236,000		4,190,000
Prepaid expense		970,000		780,000
Total current assets		47,233,000		43,105,000
PROPERTY, PLANT AND EQUIPMENT, NET		23,256,000		23,189,000
LONG-TERM INVENTORY		2,186,000		2,409,000
DEFERRED INCOME TAXES, NET		3,766,000		6,062,000
OTHER ASSETS		5,622,000		5,101,000
	$	82,063,000	$	79,866,000
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities	$	5,413,000	$	6,916,000
Long-term obligations		4,949,000		5,089,000
Shareholders’ equity		71,701,000		67,861,000
	$	82,063,000	$	79,866,000

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Lifecore Biomedical, Inc.
Consolidated Statements of Operations
(Unaudited)

	Three Months Ended						Six Months Ended
	December 31,						December 31,
	2005			2004			2005			2004
Net sales	$	15,209,000		$	14,218,000		$	28,634,000		$	26,523,000
Cost of goods sold		6,108,000			5,455,000			11,171,000			10,551,000
Gross profit		9,101,000			8,763,000			17,463,000			15,972,000
Operating expenses
Research and development		970,000			1,171,000			1,969,000			2,019,000
Marketing and sales		4,020,000			3,837,000			8,029,000			7,052,000
General and administrative		1,923,000			1,579,000			3,710,000			3,046,000
		6,913,000			6,587,000			13,708,000			12,117,000
Operating income		2,188,000			2,176,000			3,755,000			3,855,000
Other income (expense)
Interest income		157,000			32,000			292,000			42,000
Interest expense		(60,000	)		(55,000	)		(116,000	)		(168,000	)
Bond retirement expense		—			—			—			(290,000	)
Currency transaction gains		(49,000	)		113,000			(73,000	)		198,000
Other		(5,000	)		250,000			(19,000	)		252,000
		43,000			340,000			84,000			34,000
Income before income taxes		2,231,000			2,516,000			3,839,000			3,889,000
Provision for income taxes		840,000			136,000			1,403,000			230,000
Net Income	$	1,391,000	(1)	$	2,380,000		$	2,436,000	(1)	$	3,659,000
Net income per share
Basic	$	0.11		$	0.18		$	0.19		$	0.28
Diluted	$	0.10		$	0.18		$	0.18		$	0.28
Weighted average shares outstanding
Basic		13,163,429			12,945,903			13,111,498			12,939,254
Diluted		13,685,687			13,270,519			13,571,202			13,115,195

1) Results for 2005 include the effect of adopting SFAS 123R to expense stock options, which reduced net income by $181,000 and $371,000 for the second quarter and six-month period, respectively.

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Lifecore Biomedical, Inc.
Reconciliation of GAAP Net Income to Pro-Forma Net Income Information
(Unaudited)

	Three Months Ended					Six Months Ended
	December 31,					December 31,
	2005		2004			2005		2004
	Pro-Forma		Pro-Forma			Pro-Forma		Pro-Forma
Net income, as reported	$	1,391,000	$	2,380,000		$	2,436,000	$	3,659,000
Less: Adjustment to tax expense		—		(811,000	)		—		(1,198,000	)
Add: Remove effect of stock option expense in 2005		181,000		—			371,000		—
Pro forma net income	$	1,572,000	$	1,569,000		$	2,807,000	$	2,461,000
Pro forma net income per share
Basic	$	0.12	$	0.12		$	0.21	$	0.19
Diluted	$	0.11	$	0.12		$	0.21	$	0.19
Weighted average shares outstanding
Basic		13,163,429		12,945,903			13,111,498		12,939,254
Diluted		13,685,687		13,270,519			13,571,202		13,115,195

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Lifecore Biomedical, Inc.
Divisional Statements of Operations
Three Months Ended December 31,
(Unaudited)

	Hyaluronan Division				Oral Restorative Division				Consolidated
	2005		2004		2005		2004		2005		2004
Net sales	$	4,631,000	$	4,527,000	$	10,578,000	$	9,691,000	$	15,209,000	$	14,218,000
Cost of goods sold		2,344,000		2,108,000		3,764,000		3,347,000		6,108,000		5,455,000
Gross profit		2,287,000		2,419,000		6,814,000		6,344,000		9,101,000		8,763,000
Operating expenses
Research and development		580,000		895,000		390,000		276,000		970,000		1,171,000
Marketing and sales		95,000		150,000		3,925,000		3,687,000		4,020,000		3,837,000
General and administrative		716,000		521,000		1,207,000		1,058,000		1,923,000		1,579,000
		1,391,000		1,566,000		5,522,000		5,021,000		6,913,000		6,587,000
Operating income	$	896,000	$	853,000	$	1,292,000	$	1,323,000	$	2,188,000	$	2,176,000

Lifecore Biomedical, Inc.
Divisional Statements of Operations
Six Months Ended December 31,
(Unaudited)

	Hyaluronan Division				Oral Restorative Division				Consolidated
	2005		2004		2005		2004		2005		2004
Net sales	$	9,292,000	$	9,171,000	$	19,342,000	$	17,352,000	$	28,634,000	$	26,523,000
Cost of goods sold		4,396,000		4,201,000		6,775,000		6,350,000		11,171,000		10,551,000
Gross profit		4,896,000		4,970,000		12,567,000		11,002,000		17,463,000		15,972,000
Operating expenses
Research and development		1,187,000		1,499,000		782,000		520,000		1,969,000		2,019,000
Marketing and sales		271,000		242,000		7,758,000		6,810,000		8,029,000		7,052,000
General and administrative		1,426,000		1,057,000		2,284,000		1,989,000		3,710,000		3,046,000
		2,884,000		2,798,000		10,824,000		9,319,000		13,708,000		12,117,000
Operating income	$	2,012,000	$	2,172,000	$	1,743,000	$	1,683,000	$	3,755,000	$	3,855,000

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