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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Alico, Inc. Announces First Quarter Of Fiscal Year 2013 Financial Results

FORT MYERS, Fla., Feb. 6, 2013 (GLOBE NEWSWIRE) -- Alico, Inc. ("Alico") (Nasdaq:ALCO), an American agribusiness and land management company, today announced financial results for its first quarter ended December 31, 2012.

Fiscal Year 2013 First Quarter Results

For the first quarter of fiscal year 2013, total operating revenue was $21.4 million as compared to $26.0 million for the first quarter of fiscal year 2012, a decrease of approximately 18%. The decrease in operating revenue was due to a decrease in sales of citrus fruit by our Alico Fruit Company and Citrus Groves segments, partially offset by an increase in sales of Sugarcane.

Historically, our agricultural operations have been seasonal in nature with the least amount of revenue being generated in the first and fourth fiscal quarters, while increasing in the second quarter and peaking in the third quarter. First quarter fiscal year 2013 included Citrus Groves revenues of $7.4 million compared to $8.4 million from the same period of fiscal year 2012, a decrease of approximately $1.0 million or 12% due to a decrease in market prices and the average pound solids per box for our early and mid-season varieties. Alico Fruit Company had revenues of $5.3 million for the first quarter of fiscal year 2013 as compared to $10.5 million from the same period of fiscal year 2012, a decrease of approximately $5.2 million or 50% due to a decrease in the number of boxes of fruit sold and lower market prices. Improved Farmland revenue was $8.0 million for the first quarter of fiscal year 2013 as compared to $6.3 million for the same period of fiscal year 2012, an increase of approximately $1.7 million or 27%, which includes the results of Sugarcane operations, which contributed revenues of $7.8 million for first quarter of fiscal year 2013 as compared to $6.1 million for the same period of fiscal year 2012, an increase of approximately $1.7 million or 28%. The favorable result was due to an increase of approximately 28% in standard tons of sugarcane harvested as compared to the first quarter of fiscal year 2012.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,951.09 +31.50 0.19%
S&P 500 1,983.50 +1.90 0.10%
NASDAQ 4,529.1050 +1.5910 0.04%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs