Alico Inc. announces net earnings for the three months ended Nov. 30, 1996, the first quarter of fiscal 1997.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 three months ended Nov. 30, 1996, the first quarter of fiscal 1997, were $382,000, or $.05 per share. This compared to $627,000, or $.09 per share, during the same period a year ago. Operating revenues for the first quarter totaled $4.5 million, compared to $7.5 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, 1996 was $77.0 million, compared to $73.6 million at Nov. 30, 1995. Griffin noted that the decrease in net income was due to an overall decrease in earnings from agriculture during the first quarter of fiscal 1997, compared to the same period a year ago. Griffin stated that market prices for citrus products are below last year, and while this year's yield is expected to be better than last year, first quarter volume is below last year due to timing of harvest. Additionally, earnings from sugarcane operations were less than last year due to inclement in·clem·ent adj. 1. Stormy: inclement weather. 2. Showing no clemency; unmerciful. in·clem weather conditions during the growing season growing season, period during which plant growth takes place. In temperate climates the growing season is limited by seasonal changes in temperature and is defined as the period between the last killing frost of spring and the first killing frost of autumn, at which for this year's crop. Ranch earnings have improved over last year due to increased market prices for beef and lower feed costs. CONTACT: Alico Inc., La Belle W. Bernard Lester, 941/675-2966 |
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