Alico Reports Third Quarter Earnings

LaBelle, FL, August 11, 2008 -- Alico, Inc. (NASDAQ:ALCO), a land management company, announced net income for the third quarter of fiscal year 2008 of $5.0 million, or $0.68 per share, compared with a net loss of $19.0 million, or $2.58 per share, during the three months ended June 30, 2007.  For the nine months ended June 30, 2008, the Company reported net earnings of $9.3 million, or $1.26 per share, compared with a net loss of $10.9 million, or $1.48 per share, for the nine months ended June 30, 2007.

Results from both periods were impacted by the IRS audit assessments.   Pretax income from continuing operations was $2.7 million, or $0.36 per share, and $9.8 million, or $1.33 per share for the three and nine months ended June 30, 2008, respectively, compared with $10.2 million, or $1.39 per share, and $24.5 million, or $3.33 per share, for the three and nine months ended June 30, 2007, respectively.

Operating revenues during the third quarter of fiscal year 2008 totaled $42.1 million, compared with $46.1 million for the three months ended June 30, 2007.  Operating revenues were $113.0 million for the nine months ended March 31, 2008, compared with $127.4 million for the nine months ended June 30, 2007.

Dan L. Gunter, President and Chief Executive Officer, noted, “We are continuing in our efforts to streamline operations, improve efficiencies and reduce costs, as well as to explore new strategic initiatives in order to increase profitability and shareholder value.  During the past quarter, we have discontinued several unprofitable ventures, settled the IRS dispute and made changes that should result in a leaner and more responsive operation.”

   
Three months ended June 30,
   
Nine months ended June 30,
 
   
2008
   
2007
   
2008
   
2007
 
Revenues
                       
Agriculture:
                       
Bowen Brothers Fruit
  $ 17,451     $ 20,810     $ 44,294     $ 52,240  
Citrus groves
    17,528       19,640       40,679       46,729  
Sugarcane
    1,581       451       9,341       9,213  
Cattle
    3,049       2,893       6,451       8,093  
Vegetables
    1,522       898       5,460       3,803  
Sod
    404       527       877       1,577  
Agriculture operations revenue
    41,535       45,219       107,102       121,655  
Real estate operations
    1       79       3,870       3,329  
Land leasing and other
    542       450       1,674       1,275  
Mining royalties
    69       401       335       1,135  
                                 
Total operating revenue
  $ 42,147     $ 46,149     $ 112,981     $ 127,394  
                                 

The following information was filed by Alico Inc (ALCO) on Tuesday, August 12, 2008 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Alico Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Alico Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account