Alico Announces Net Earnings for the Nine Months Ended May 31, 1998.LA BELLE La Belle may be a place in the US:
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 nine months ended May 31, 1998 were $4.3 million, or $.61 per share. This compared to $10.6 million, or $1.51 per share, during the nine months period ended May 31, 1997. 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. during the first nine months of fiscal 1998 totaled $33.6 million, compared to $31.1 million during the same period in fiscal 1997. Operating revenues during the three months ended May 31, 1998 (third quarter of fiscal 1998) totaled $11.7 million, compared to $11.1 million during the same period a year ago. Net earnings for the third quarter of fiscal 1998 were $1.9 million, or $.27 per share, while for the same period in fiscal 1997 they were $2.0 million, or $.28 per share. 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 May 31, 1998 was $88.4 million, compared to $87.3 million at May 31, 1997. Griffin noted that the decrease in year to date net income was primarily due to the large land sale in Hendry County, Fla., during the prior year. This sale occurred during the second quarter of fiscal 1997 and generated $11.3 million pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern gain. Griffin stated that this year's citrus citrus Any of the plants that make up the genus Citrus, in the rue family, that yield pulpy fruits covered with fairly thick skins. The genus includes the lemon, lime, sweet and sour oranges, tangerine, grapefruit, citron, and shaddock (C. maxima, or C. grandis; also called pomelo). harvest is expected to be similar to last year. Market prices for citrus products are difficult to predict at this time of the year, however, earnings for this division are somewhat less year to date, but may have the opportunity to strengthen by year-end. Earnings from sugarcane operations improved due to increased production resulting from improved per acre yields and an increase in producing acres. Ranch earnings have approximated the prior year. CONTACT: Alico Inc., La Belle W. Bernard Lester, 941/675-2966 |
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