— Fourth quarter revenue increased 36% to $12.5 million —
— Fiscal year 2010 revenue increased 56% to $54.3 million —
— Fiscal Year operating income grew 142% to $3.1 million, driven
primarily by agribusiness —
— Adjusted EBITDA improved to $8.6 million —
— Generated positive cash flow from operating activities of $7.1
million in 2010 —
SANTA PAULA, Calif.--(BUSINESS WIRE)--
Limoneira Company (NASDAQ: LMNR), a leading agribusiness with prime
agricultural land and operations, real estate and water rights
throughout California, today reported financial results for the fourth
quarter and fiscal year ended October 31, 2010.
Fiscal Year 2010 Fourth Quarter Results
For the fourth quarter of fiscal year 2010, revenue increased 36% to
$12.5 million, compared to revenue of $9.2 million in the fourth quarter
of the previous fiscal year. All three of the Company's main revenue
sources—agriculture, rental operations, and real estate
development—contributed to this period-over-period revenue growth.
Agriculture revenue was $8.3 million, compared to $8.2 million in the
fourth quarter last year. Rental revenue was $1.1 million in the fourth
quarter, up from $1.0 million in the fourth quarter last year. Real
estate development revenue increased to $3.0 million, compared to
$15,000 in the fourth quarter last year. Real estate development
realized sales in the fourth quarter primarily attributable to the
Company's sale of its Cactus Wren property in Arizona in August, 2010.
Fourth quarter 2010 agriculture revenue is comprised of $5.0 million in
lemon sales compared to $4.9 million during the same period of fiscal
year 2009, $0.9 million of avocado revenue compared to $1.4 million in
the same period of fiscal year 2009, $1.2 million of orange and
specialty crop revenues compared to $1.1 million in the same period of
fiscal year 2009, and $1.2 million in citrus products revenue compared
to $0.8 million in the same period of fiscal year 2009. The fluctuation
in revenues is generally due to the normal volatility of agriculture
production, except for the increase in citrus products revenue, which
reflects stronger pricing in the juice and products market in fourth
quarter 2010 as compared to the fourth quarter of fiscal year 2009.
Costs and expenses for the fourth quarter of fiscal year 2010 were $14.6
million compared to $13.7 million in the fourth quarter last fiscal
year. The year-over-year increase in operating expenses reflects higher
selling, general and administrative expenses due to ongoing costs
associated with being a newly publicly traded company and employee
incentive compensation of approximately $0.6 million due to stronger
fiscal year 2010 operating results, both of which did not occur in the
fourth quarter of fiscal year 2009. Fourth quarter of fiscal year 2010
operating expenses also include $3.0 million associated with the sale of
the Company's Cactus Wren property. These higher SG&A and real estate
development costs were partially offset by lower impairment charges of
real estate development assets of $4.3 million in the fourth quarter of
fiscal year 2010 compared to the fourth quarter of the prior fiscal
year, due to the slowing decline in real estate values.
Operating loss for the fiscal year 2010 fourth quarter was $2.1 million,
compared to $4.6 million in the fourth quarter of the previous fiscal
year.
The Company generated Adjusted EBITDA (defined as net income excluding
interest expense, income taxes, depreciation and amortization, and
non-cash impairment charges on real estate development) in the fourth
quarter of fiscal year 2010 of $654,000, compared to $5.0 million in the
fourth quarter of the previous fiscal year. A reconciliation of Adjusted
EBITDA to the GAAP measure net income is provided at the end of this
release.
Fiscal Year 2010 Results
For the fiscal year ended October 31, 2010, revenue increased by 56% to
$54.3 million from $34.8 million during fiscal year 2009. The increase
was driven by growth in all three of the Company's main revenue sources:
agriculture revenue increased to $47.0 million, compared to $31.0
million last year; rental revenue increased to $4.0 million compared to
$3.8 million last year; and real estate development revenue increased to
$3.3 million, compared to $39,000 last year. Operating income for fiscal
year 2010 was $3.1 million, compared to an operating loss of $7.5
million in the same period last year. Fiscal year 2010 operating income
includes charges of $2.4 million attributable to impairments of certain
of the Company's real estate development assets. Fiscal year 2009
operating loss includes $6.2 million of charges attributable to
impairments of the Company's real estate development assets. The
year-over-year improvement in asset impairment charges reflects slowing
rates of decline in real estate values over the course of the past year.
Net income applicable to common stock, after preferred dividends for
fiscal year 2010 was $61,000 or $0.01 per share, compared to a net loss
of $3.1 million or ($0.28) per share, in the same period last fiscal
year. Adjusted EBITDA for fiscal year 2010 was $8.6 million, compared to
$4.1 million in fiscal year 2009. A reconciliation of Adjusted EBITDA to
the GAAP measure net income is provided at the end of this release.
Harold Edwards, President and Chief Executive Officer, stated, "We are
pleased with our fourth quarter results, which marks a solid finish to a
very exciting year for Limoneira. In fiscal year 2010, we achieved solid
revenue, operating income and net income growth, as well as strong cash
flow from operations. Our agribusiness in fiscal year 2010 benefited
from year-over-year growth in all of our crop varieties, reflecting
favorable harvest conditions in addition to growing global demand; our
avocado business was extremely strong, as avocado revenue increased 188%
compared to last fiscal year. Our overall revenue also benefited from
improved real estate revenue due to the sale of the Cactus Wren project
in Arizona, which enabled us to reduce debt in the fourth quarter."
Mr. Edwards continued, "In addition to our improved financial results,
we are proud of the accomplishments of our business in fiscal year 2010
and are encouraged by our positive momentum as we begin fiscal year
2011. In May, we listed our common stock on the NASDAQ Global Market,
and as previously announced, beginning on November 1, 2010, we
implemented a direct selling and marketing strategy for our lemon
business, which will enable us to achieve improved efficiencies
throughout our distribution channel and establish global recognition of
the Limoneira brand. We are pleased with the initial success of this new
initiative and look forward to incremental improvements being reflected
in our financial results throughout fiscal year 2011."
Mr. Edwards concluded, "We are excited about the opportunities ahead for
Limoneira in fiscal year 2011 and beyond. We will remain diligently
focused on expanding our core agribusiness, and we will continue to
capitalize on opportunities to monetize our real estate investments.
Limoneira is well-positioned to make solid progress in our business
during the coming quarters and improve our top and bottom line results
and enhance our shareholder value."
Balance Sheet and Liquidity
During the fourth quarter of fiscal year 2010, the Company decreased its
long-term debt by $6.0 million. The Company had a working capital of
$1.1 million as of October 31, 2010, compared to $2.4 million as of
October 31, 2009. Net cash provided by operating activities during
fiscal year October 31, 2010 was $7.1 million, compared to a net use of
cash from operating activities of $1.0 million during fiscal year 2009.
Real Estate Development
During the fourth quarter and fiscal year ended October 31, 2010, the
Company continued to execute its real estate development strategy
capitalizing development costs of $1.0 million and $3.7 million,
respectively. During the same periods in fiscal year 2009, the Company
capitalized real estate development costs of $0.8 million and $5.1
million, respectively.
As previously announced, in August 2010, the Company sold one of its
Arizona properties, Cactus Wren, for $3.0 million cash; realizing net
cash of $2.8 million after selling and other closing costs. The Company
recognized an impairment charge of $0.5 million in the third quarter in
connection with the sale in the fourth quarter of fiscal year 2010. The
Company used the funds received from the transaction to pay down debt.
Recent Business Highlights
As previously announced, effective November 1, 2010, the Company began
implementing its strategic decision to increase its brand exposure in
agribusiness by marketing and selling its lemons directly to
foodservice, wholesale and retail customers around the world. The
Company has added its commercial lemons to its existing specialty lemon
sales, completing the value chain from tree to customer, with a new
marketing and selling strategy. The initial results of the direct lemon
sales strategy have shown improvement in fresh utilization and customer
acceptance of Limoneira brands in the market place.
About Limoneira Company
Limoneira Company, a 117-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 7,300
acres of rich agricultural lands, real estate properties and water
rights throughout California. The Company is a leading producer of
lemons, avocados, oranges, and other specialty crops that are enjoyed
throughout the world. For more about Limoneira Company, visit www.limoneira.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are based on Limoneira's current expectations
about future events and can be identified by terms such as "expect,"
"may," "anticipate," "intend," "should be," "will be," "is likely to,"
"strive to," and similar expressions referring to future periods.
Limoneira believes the expectations reflected in the forward-looking
statements are reasonable but cannot guarantee future results, level of
activity, performance or achievements. Actual results may differ
materially from those expressed or implied in the forward-looking
statements. Therefore, Limoneira cautions you against relying on
any of these forward-looking statements. Factors which may cause future
outcomes to differ materially from those foreseen in forward-looking
statements include, but are not limited to: changes in laws,
regulations, rules, quotas, tariffs, and import laws; weather conditions
that affect production, transportation, storage, import and export of
fresh product; increased pressure from disease, insects and other pests;
disruption of water supplies or changes in water allocations; pricing
and supply of raw materials and products; market responses to industry
volume pressures; pricing and supply of energy; changes in interest and
currency exchange rates; availability of financing for land development
activities; political changes and economic crises; international
conflict; acts of terrorism; labor disruptions, strikes or work
stoppages; loss of important intellectual property rights; inability to
pay debt obligations; inability to engage in certain transactions due to
restrictive covenants in debt instruments; government restrictions on
land use; increased costs from becoming a public company; and market and
pricing risks due to concentrated ownership of stock. Other risks
and uncertainties include those that are described in Limoneira's SEC
filings, which are available on the SEC's website at http://www.sec.gov.
Limoneira undertakes no obligation to subsequently update or revise
the forward-looking statements made in this press release, except as
required by law.
Non-GAAP Financial Measures
Due to significant depreciable assets associated with the nature of the
Company's operations and interest costs associated with its capital
structure, management believes that earnings before interest expense,
income taxes, depreciation and amortization ("EBITDA") and adjusted
EBITDA, which excludes impairments on real estate development assets, is
an important measure to evaluate the Company's results of operations
between periods on a more comparable basis. Such measurements are not
prepared in accordance with U.S. generally accepted accounting
principles ("GAAP") and should not be construed as an alternative to
reported results determined in accordance with GAAP. The non-GAAP
information provided is unique to the Company and may not be consistent
with methodologies used by other companies. EBITDA and adjusted EBITDA
are summarized and reconciled to net income (loss) which management
considers to be the most directly comparable financial measure
calculated and presented in accordance with GAAP as follows:
Years Ended October 31, 2010 and 2009
|
|
|
|
|
2010
|
|
|
|
2009
|
|
Net income (loss)
|
|
|
|
$
|
323,000
|
|
|
|
|
$
|
(2,877,000
|
)
|
|
Total interest expense
|
|
|
|
|
3,619,000
|
|
|
|
|
|
692,000
|
|
|
Income taxes
|
|
|
|
|
(72,000
|
)
|
|
|
|
|
(2,291,000
|
)
|
|
Depreciation and amortization
|
|
|
|
|
2,337,000
|
|
|
|
|
|
2,323,000
|
|
|
EBITDA
|
|
|
|
|
6,207,000
|
|
|
|
|
|
(2,153,000
|
)
|
|
Impairments of real estate development assets
|
|
|
|
|
2,422,000
|
|
|
|
|
|
6,203,000
|
|
|
Adjusted EBITDA
|
|
|
|
$
|
8,629,000
|
|
|
|
|
$
|
4,050,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fourth Quarter Fiscal Years 2010 and 2009
|
|
|
|
|
2010
|
|
|
|
2009
|
|
Net income (loss)
|
|
|
|
$
|
(1,572,000
|
)
|
|
|
|
$
|
(1,110,000
|
)
|
|
Total interest expense
|
|
|
|
|
823,000
|
|
|
|
|
|
188,000
|
|
|
Income taxes
|
|
|
|
|
(1,115,000
|
)
|
|
|
|
|
(891,000
|
)
|
|
Depreciation and amortization
|
|
|
|
|
613,000
|
|
|
|
|
|
621,000
|
|
|
EBITDA
|
|
|
|
|
(1,251,000
|
)
|
|
|
|
|
(1,192,000
|
)
|
|
Impairments of real estate development assets
|
|
|
|
|
1,905,000
|
|
|
|
|
|
6,203,000
|
|
|
Adjusted EBITDA
|
|
|
|
$
|
654,000
|
|
|
|
|
$
|
5,011,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Limoneira Company
Consolidated Balance Sheets
|
|
|
|
|
|
|
|
|
October 31,
|
|
|
|
2010
|
|
|
2009
|
|
Current assets:
|
|
|
|
|
|
|
|
|
Cash
|
|
$
|
258,000
|
|
|
|
$
|
603,000
|
|
|
Accounts receivable, net
|
|
|
3,390,000
|
|
|
|
|
3,735,000
|
|
|
Notes receivable - related parties
|
|
|
33,000
|
|
|
|
|
1,519,000
|
|
|
Cultural costs
|
|
|
1,059,000
|
|
|
|
|
858,000
|
|
|
Prepaid expenses and other current assets
|
|
|
1,244,000
|
|
|
|
|
894,000
|
|
|
Income taxes receivable
|
|
|
1,241,000
|
|
|
|
|
-
|
|
|
Current assets of discontinued operations
|
|
|
168,000
|
|
|
|
|
9,000
|
|
|
Total current assets
|
|
|
7,393,000
|
|
|
|
|
7,618,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net
|
|
|
53,283,000
|
|
|
|
|
53,817,000
|
|
|
Real estate development
|
|
|
68,412,000
|
|
|
|
|
53,125,000
|
|
|
Assets held for sale
|
|
|
-
|
|
|
|
|
6,774,000
|
|
|
Equity in investments
|
|
|
9,057,000
|
|
|
|
|
1,635,000
|
|
|
Investment in Calavo Growers, Inc.
|
|
|
14,564,000
|
|
|
|
|
11,870,000
|
|
|
Notes receivable - related parties
|
|
|
60,000
|
|
|
|
|
284,000
|
|
|
Notes receivable
|
|
|
2,154,000
|
|
|
|
|
2,000,000
|
|
|
Other assets
|
|
|
4,515,000
|
|
|
|
|
4,307,000
|
|
|
Non-current assets of discontinued operations
|
|
|
253,000
|
|
|
|
|
438,000
|
|
|
Total Assets
|
|
$
|
159,691,000
|
|
|
|
$
|
141,868,000
|
|
|
Liabilities and Stockholders' Equity
|
|
|
|
|
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
|
|
|
|
|
Accounts payable
|
|
$
|
2,031,000
|
|
|
|
$
|
1,669,000
|
|
|
Growers payable
|
|
|
871,000
|
|
|
|
|
988,000
|
|
|
Accrued liabilities
|
|
|
2,776,000
|
|
|
|
|
2,065,000
|
|
|
Current portion of long-term debt
|
|
|
626,000
|
|
|
|
|
465,000
|
|
|
Current liabilities of discontinued operations
|
|
|
34,000
|
|
|
|
|
2,000
|
|
|
Total current liabilities
|
|
|
6,338,000
|
|
|
|
|
5,189,000
|
|
|
Long-term liabilities:
|
|
|
|
|
|
|
|
|
|
|
Long-term debt, less current portion
|
|
|
85,312,000
|
|
|
|
|
69,251,000
|
|
|
Deferred income taxes
|
|
|
8,697,000
|
|
|
|
|
8,764,000
|
|
|
Other long-term liabilities
|
|
|
7,248,000
|
|
|
|
|
6,903,000
|
|
|
Total long-term liabilities
|
|
|
101,257,000
|
|
|
|
|
84,918,000
|
|
|
Commitments and contingencies
|
|
|
|
|
|
|
|
|
|
|
Stockholders' equity:
|
|
|
|
|
|
|
|
|
|
|
Series B Convertible Preferred Stock — $100.00 par value (50,000
shares
authorized: 30,000 shares issued and outstanding at
October 31, 2010 and
2009) (8.75% coupon rate)
|
|
|
3,000,000
|
|
|
|
|
3,000,000
|
|
|
Series A Junior Participating Preferred Stock — $.01 par value
(50,000
shares authorized: 0 issued or outstanding at October
31, 2010 and 2009)
|
|
|
-
|
|
|
|
|
-
|
|
|
Common Stock — $.01 par value (19,900,000 shares authorized:
11,194,460
and 11,262,880 shares issued and outstanding at
October 31, 2010 and
2009, respectively)
|
|
|
112,000
|
|
|
|
|
113,000
|
|
|
Additional paid-in capital
|
|
|
34,735,000
|
|
|
|
|
34,718,000
|
|
|
Retained earnings
|
|
|
15,044,000
|
|
|
|
|
16,386,000
|
|
|
Accumulated other comprehensive loss
|
|
|
(795,000
|
)
|
|
|
|
(2,456,000
|
)
|
|
Total stockholders' equity
|
|
|
52,096,000
|
|
|
|
|
51,761,000
|
|
|
Total Liabilities and Stockholders' Equity
|
|
$
|
159,691,000
|
|
|
|
$
|
141,868,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Limoneira Company
Consolidated Statements of Operations
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended October 31,
|
|
|
Years ended October 31,
|
|
|
|
|
2010
|
|
|
2009
|
|
|
2010
|
|
|
2009
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agriculture
|
|
|
$
|
8,345,000
|
|
|
$
|
8,176,000
|
|
|
|
$
|
47,034,000
|
|
|
$
|
31,033,000
|
|
|
Rental
|
|
|
|
1,095,000
|
|
|
|
987,000
|
|
|
|
|
3,976,000
|
|
|
|
3,766,000
|
|
|
Real estate development
|
|
|
|
3,043,000
|
|
|
|
15,000
|
|
|
|
|
3,274,000
|
|
|
|
39,000
|
|
|
Total revenues
|
|
|
|
12,483,000
|
|
|
|
9,178,000
|
|
|
|
|
54,284,000
|
|
|
|
34,838,000
|
|
|
Costs and expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agriculture
|
|
|
|
6,221,000
|
|
|
|
5,154,000
|
|
|
|
|
31,457,000
|
|
|
|
27,281,000
|
|
|
Rental
|
|
|
|
548,000
|
|
|
|
516,000
|
|
|
|
|
2,173,000
|
|
|
|
2,061,000
|
|
|
Real estate development
|
|
|
|
3,299,000
|
|
|
|
85,000
|
|
|
|
|
4,416,000
|
|
|
|
318,000
|
|
|
Impairment of real estate assets
|
|
|
|
1,905,000
|
|
|
|
6,203,000
|
|
|
|
|
2,422,000
|
|
|
|
6,203,000
|
|
|
Selling, general and administrative
|
|
|
|
2,626,000
|
|
|
|
1,779,000
|
|
|
|
|
10,694,000
|
|
|
|
6,469,000
|
|
|
(Gain) loss on disposals/sales of assets
|
|
|
|
(1,000
|
)
|
|
|
7,000
|
|
|
|
|
(1,000
|
)
|
|
|
10,000
|
|
|
Total costs and expenses
|
|
|
|
14,598,000
|
|
|
|
13,744,000
|
|
|
|
|
51,161,000
|
|
|
|
42,342,000
|
|
|
Operating income (loss)
|
|
|
|
(2,115,000
|
)
|
|
|
(4,566,000
|
)
|
|
|
|
3,123,000
|
|
|
|
(7,504,000
|
)
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
|
(376,000
|
)
|
|
|
(188,000
|
)
|
|
|
|
(1,632,000
|
)
|
|
|
(692,000
|
)
|
|
Interest expense related to derivative instruments
|
|
|
|
(447,000
|
)
|
|
|
-
|
|
|
|
|
(1,987,000
|
)
|
|
|
-
|
|
|
Gain on sale of stock in Calavo Growers, Inc.
|
|
|
|
-
|
|
|
|
2,729,000
|
|
|
|
|
-
|
|
|
|
2,729,000
|
|
|
Interest income
|
|
|
|
28,000
|
|
|
|
48,000
|
|
|
|
|
113,000
|
|
|
|
225,000
|
|
|
Other income (expense), net
|
|
|
|
(22,000
|
)
|
|
|
(32,000
|
)
|
|
|
|
332,000
|
|
|
|
256,000
|
|
|
Total other (expense)
|
|
|
|
(817,000
|
)
|
|
|
2,557,000
|
|
|
|
|
(3,174,000
|
)
|
|
|
2,518,000
|
|
|
Income (loss) from continuing operations before
income tax (provision) benefit and
equity in earnings (losses) of investments
|
|
|
|
(2,932,000
|
)
|
|
|
(2,009,000
|
)
|
|
|
|
(51,000
|
)
|
|
|
(4,986,000
|
)
|
|
Income tax (provision) benefit
|
|
|
|
1,115,000
|
|
|
|
891,000
|
|
|
|
|
72,000
|
|
|
|
2,291,000
|
|
|
Equity in earnings (losses) of investments
|
|
|
|
270,000
|
|
|
|
13,000
|
|
|
|
|
345,000
|
|
|
|
(170,000
|
)
|
|
Income (loss) from continuing operations
|
|
|
|
(1,547,000
|
)
|
|
|
(1,105,000
|
)
|
|
|
|
366,000
|
|
|
|
(2,865,000
|
)
|
|
Loss from discontinued operations, net of income taxes
|
|
|
|
(25,000
|
)
|
|
|
(5,000
|
)
|
|
|
|
(43,000
|
)
|
|
|
(12,000
|
)
|
|
Net income (loss)
|
|
|
|
(1,572,000
|
)
|
|
|
(1,110,000
|
)
|
|
|
|
323,000
|
|
|
|
(2,877,000
|
)
|
|
Preferred dividends
|
|
|
|
(65,000
|
)
|
|
|
(65,000
|
)
|
|
|
|
(262,000
|
)
|
|
|
(262,000
|
)
|
|
Net income (loss) applicable to common stock
|
|
|
$
|
(1,637,000
|
)
|
|
$
|
(1,175,000
|
)
|
|
|
$
|
61,000
|
|
|
$
|
(3,139,000
|
)
|
|
Per common share basic:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
$
|
(0.14
|
)
|
|
$
|
(0.10
|
)
|
|
|
$
|
0.01
|
|
|
$
|
(0.28
|
)
|
|
Discontinued operations
|
|
|
|
(0.00
|
)
|
|
|
(0.00
|
)
|
|
|
|
(0.00
|
)
|
|
|
(0.00
|
)
|
|
Basic net income (loss) per share
|
|
|
$
|
(0.14
|
)
|
|
$
|
(0.10
|
)
|
|
|
$
|
0.01
|
|
|
$
|
(0.28
|
)
|
|
Per common share-diluted:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations
|
|
|
$
|
(0.14
|
)
|
|
$
|
(0.10
|
)
|
|
|
$
|
0.01
|
|
|
$
|
(0.28
|
)
|
|
Discontinued operations
|
|
|
|
(0.00
|
)
|
|
|
(0.00
|
)
|
|
|
|
(0.00
|
)
|
|
|
(0.00
|
)
|
|
Diluted net income (loss) per share
|
|
|
$
|
(0.14
|
)
|
|
$
|
(0.10
|
)
|
|
|
$
|
0.01
|
|
|
$
|
(0.28
|
)
|
|
Dividends per common share
|
|
|
$
|
0.03
|
|
|
$
|
0.03
|
|
|
|
$
|
0.13
|
|
|
$
|
0.06
|
|
|
Weighted-average shares outstanding-basic
|
|
|
|
11,194,000
|
|
|
|
11,263,000
|
|
|
|
|
11,210,000
|
|
|
|
11,242,000
|
|
|
Weighted-average shares outstanding-diluted
|
|
|
|
11,194,000
|
|
|
|
11,263,000
|
|
|
|
|
11,251,000
|
|
|
|
11,242,000
|
|
Investor Contact:
ICR
John Mills
Senior Managing
Director
310-954-1105
Source: Limoneira Company
News Provided by Acquire Media
