Alico Inc. Announces Earnings for the Six Months Ended Feb. 28, 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 six months ended Feb. 28, 1998, were $2.4 million, or $.34 per share. This compared to $8.6 million, or $1.23 per share, during the six months period ended Feb. 28, 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 six months of fiscal 1998 totaled $21.9 million, compared to $20.0 million during the same period in fiscal 1997. Operating revenues during the three months ended Feb. 28, 1998 (second quarter of fiscal 1998) totaled $12.7 million, compared to $15.5 million during the same period a year ago. Net earnings for the second quarter of fiscal 1998 were $1.5 million, or $.21 per share, compared to $8.3 million, or $1.17 per share, during the same period a year ago. 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 Feb. 28, 1998 was $86.7 million, compared to $85.3 million at Feb. 28, 1997. Griffin noted that the significant decrease in net income for the current period was primarily due to the prior year sale of 21,700 acres of land, in Hendry County, Fla., to the South Florida Water Management District. The sale generated a pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern gain of $11.3 million and was included in the fiscal 1997 second quarter results. Griffin stated that earnings for the citrus division have increased over the prior year due to an unanticipated improvement in market prices. Earnings from sugarcane operations have also increased, when compared to the prior year, due to improved yields and the corresponding increase in sugar production. Year-to-date earnings from ranch operations were somewhat less than the first half of fiscal 1997 due to a decrease in the number of brood brood n. See litter. brood offspring or pertaining to offspring. brood mare a mare dedicated to the production of foals. cows sold during the period. CONTACT: Alico Inc., La Belle W. Bernard Lester, 941/675-2966 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion