Alico, Inc. Announces Net Earnings for the Three Months Ended Nov. 30, 2000.Business Editors LA BELLE La Belle may be a place in the US:
Mr. Ben Hill Griffin III, Chairman of Alico, Inc. (ALCO), a La Belle agribusiness agribusiness Agriculture operated by business; specifically, that part of a modern national economy devoted to the production, processing, and distribution of food and fibre products and byproducts. company, announced that net earnings for the three months ended November 30, 2000, the first quarter of fiscal 2001, were $805 thousand or $.11 per share. This compares to $8.6 million or $1.23 per share, during the same period a year ago. Operating revenues operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. for the first quarter totaled $9.6 million, compared to $6.9 million during the first quarter of last year. Stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. as of November 30, 2000 was $96.9 million, compared to $98.0 million at November 30, 1999. Mr. Griffin noted that the decrease in net income was primarily due to the decrease in earnings from real estate sales, during the first quarter of fiscal 2001, compared to the same period a year ago. During the first quarter of fiscal 2000, the Company sold 1,270 acres of land surrounding the Florida Gulf Coast University About FGCU History The newest university in the State University System of Florida, the school was established by then-governor Lawton Chiles in 1991, although the site of the university wasn't chosen until 1992, and construction pushed back even further still (until , generating a pre-tax gain of $13.4 million. Mr. Griffen stated that citrus earnings have decreased, when compared to the same quarter last year, due to a decrease in fresh fruit revenue. Sugarcane earnings have increased, compared to the first quarter of last year, due to an increase in producing acres, combined with improved sugar yields and market prices. Ranch earnings have increased from a year ago due to improved market prices for beef. |
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