This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Limoneira Company Announces Third Quarter And Nine Months Fiscal Year 2012 Financial Results

Lemon sales increased 53% to $35.6 million for the nine months ended July 31, 2012 compared to $23.4 million for same period of 2011 as a result of higher average prices and increased volume. Fresh lemon cartons sold increased 33% to 1.9 million for the nine months ended July 31, 2012 from 1.4 million for the same period of 2011. The Company estimates it will sell approximately 2.4 million fresh lemon cartons in fiscal year 2012 compared to 1.8 million for fiscal year 2011.

Management Comments

Harold Edwards, President and Chief Executive Officer, stated, “We are pleased with the continued progress of our business and our third quarter financial results. Our agribusiness revenue improved 19%, reflecting our strong lemon sales, and we generated solid Adjusted EBITDA of $8.2 million. We used our cash flow to invest in our agriculture business and reduce a portion of our long-term debt and expect to continue to do so in the fourth quarter.”

Mr. Edwards continued, “We continued to execute on our strategy of adding productive agriculture land with our August acquisition of 230 acres of agriculture property in the San Joaquin Valley of California. This property, which is adjacent to the Sheldon orchards, is high quality citrus land that will be planted with lemons and we expect that it will produce approximately 1,000 cartons of lemons per acre. With this acquisition, we now own or lease over 8,000 acres of agriculture and real estate property. As we begin the final quarter of fiscal 2012 and look toward next year, we have identified a number of potential acquisition opportunities and look forward to strategically adding to our acreage as we continue to grow our agriculture business. Regarding our real estate development efforts, we continue to evaluate market conditions and are committed to capitalizing on opportunities to monetize our real estate portfolio at the appropriate time.”

3 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs