Mr. Alexander continued, "We are encouraged by the increased profitability from our Sugarcane segment. We expect the increased profitability to continue as the production per acre as well as the acres in production increase over the prior year. We also incurred approximately $0.3 million in the first quarter in repair and maintenance expense to upgrade our fleet of trailers which negatively impacted earnings but we believe it allows us to continue to provide both internal and external citrus hauling services at a very high standard. Additionally, the Company continues its work on enhancement and repositioning of our lower income producing lands and we are progressing toward the closing of the USDA agreement we reached in September 2012."Balance Sheet and Liquidity
Alico, Inc. Announces First Quarter Of Fiscal Year 2013 Financial Results
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