Alico Announces Net Earnings.Business Editors LA BELLE La Belle may be a place in the US:
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 Nov. 30, 1999, the first quarter of fiscal 2000, were $8.6 million or $1.23 per share. This compares to $27,000 or $.004 per share, during the same period a year ago. Operating revenues for the first quarter totaled $6.9 million, compared to $5.9 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 Nov. 30, 1999 was $98.0 million, compared to $87.0 million at Nov. 30, 1998. Griffin noted that the increase in net income was primarily due to the increase in earnings from real estate sales during the first quarter of fiscal 1999, compared to the same period a year ago. During the first quarter of fiscal 2000, the company sold 1,230 acres of land surrounding 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 $12.9 million. Griffin stated that current market prices for grapefruit grapefruit, pomelo (pŏm`əlō), or pummelo (pum`məlō), citrus fruit (Citrus paradisi) of the family Rutaceae (orange family). are above last year and earnings for the citrus division have improved when compared to the same quarter a year ago. Sugarcane earnings have declined compared to the first quarter of last year due to decreased sugar yield per acre and lower market prices. Ranch earnings have increased from a year ago due to improved market prices for beef. |
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