- Company Not Affected by Recent California Wildfires -
- Company to Report Third Quarter Fiscal Year 2016 Results on
September 8, 2016 -
SANTA PAULA, Calif.--(BUSINESS WIRE)--
Limoneira Company (NASDAQ: LMNR), a leading agribusiness with prime
agricultural land and operations, real estate and water rights in
California and Arizona, today announced that the Company is not being
affected by the current wildfires in California. In addition, the
Company reiterated its fiscal year 2016 guidance ranges and announced
that it will report its financial results for the third quarter ended
July 31, 2016 on Thursday, September 8, 2016.
Reconfirming Fiscal Year 2016 Outlook
For the fiscal year ending October 31, 2016, the Company continues to
expect to sell between 2.7 million and 3.0 million cartons of fresh
lemons at an average price of approximately $23.00 per carton and
expects to sell approximately 8.5 to 9.5 million pounds of avocados at
approximately $0.80 per pound.
The Company is reiterating its guidance range for operating income,
EBITDA, and earnings per diluted share for fiscal year 2016. The Company
expects operating income for fiscal year 2016 to be approximately $8.6
million to $9.1 million. Fiscal year 2016 EBITDA is expected to be in
the range of $14.6 million to $15.1 million. The Company expects fiscal
year 2016 earnings per diluted share to be in the range of $0.28 to
$0.33. Excluding transaction costs incurred in connection with the
Limoneira/Lewis joint venture, fiscal year 2016 earnings per diluted
share are expected to be in the range of $0.33 to $0.38.
About Limoneira Company
Limoneira Company, a 124-year-old international agribusiness
headquartered in Santa Paula, California, has grown to become one of the
premier integrated agribusinesses in the world. Limoneira (pronounced lē
mon΄âra) is a dedicated sustainability company with approximately 10,700
acres of rich agricultural lands, real estate properties and water
rights in California and Arizona. The Company is a leading producer of
lemons, avocados, oranges, specialty citrus and other crops that are
enjoyed throughout the world. For more about Limoneira Company, visit www.limoneira.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160822005985/en/
Investor Contact:
ICR
John Mills
Partner
646-277-1254
Source: Limoneira Company
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