— Fourth Quarter 2012 Agribusiness Revenue Increased 39% Compared to
Fourth Quarter of Last Year —
— Fiscal Year 2012 Lemon Sales Increased 41% Compared to Same Period
Last Year —
— Fiscal Year 2012 Net Income Increased 97% to $3.2 million compared
to Same Period Last Year —
— Executed Agribusiness Growth Strategy in Fiscal Year 2012 with
Acquisition of 355 Acres of California Agricultural Property —
— Increased Quarterly Dividend per Share of Common Stock by 20%
During Fiscal Year 2012 —
— Company Provides Fiscal Year 2013 Lemon and Avocado Volume Growth
Guidance —
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, today reported financial results for the fourth quarter and
year ended October 31, 2012.
Fiscal Year 2012 Fourth Quarter Results
For the fourth quarter of fiscal year 2012, revenue was $14.8 million,
compared to revenue of $10.9 million in the fourth quarter of the
previous fiscal year. Agribusiness revenue increased 39% to $13.6
million, compared to $9.8 million in the fourth quarter last year.
Rental operations revenue was $1.1 million in the fourth quarter of
fiscal year 2012, compared to $1.0 million in the fourth quarter last
year. Real estate development revenue was $90,000, compared to $41,000
in the fourth quarter last year.
Fourth quarter 2012 agribusiness revenue includes $8.5 million in lemon
sales, compared to $7.8 million of lemon sales during the same period of
fiscal year 2011, reflecting a larger number of cartons of fresh lemons
sold as well as a higher average price per carton. The Company also
experienced higher sales of lemon by-products compared to the same
period last year. Avocado revenue was $3.3 million in the fourth quarter
of fiscal year 2012 compared to $0.9 million in the fourth quarter last
year. The increase in avocado sales reflects higher volume of fruit sold
offset by a lower average price per pound. The Company generated $1.8
million of orange, specialty citrus and other crop revenues in the
fourth quarter of fiscal year 2012 compared to $1.1 million in the same
period of fiscal year 2011.
Costs and expenses for the fourth quarter of fiscal year 2012 were $14.3
million, compared to $10.0 million in the fourth quarter of last fiscal
year. The year-over-year increase in operating expenses reflects
increased agribusiness costs associated with the higher sales for this
segment, as well as higher selling, general and administrative expenses
due primarily to increased employee incentive and selling expenses as a
result of improved operations in fiscal year 2012 versus fiscal year
2011.
Operating income for the fiscal year 2012 fourth quarter was $458,000,
compared to $843,000 in the fourth quarter of the previous fiscal year.
Fourth quarter 2012 operating income was lower than the prior year due
primarily to $125,000 operating loss on the Sheldon Ranch leases and
increased selling, general and administrative expenses. The Sheldon
Ranch leases are comprised of six operating leases for approximately
1,000 acres of lemon, orange, specialty citrus and other crop orchards.
Under the terms of the lease agreements and due to growing and harvest
timing, Limoneira did not share in citrus crop revenue on the Sheldon
property in fiscal year 2012 but incurred certain farming costs and
lease expense associated with the property, resulting in a loss from
operations of $125,000 in the fourth quarter of fiscal year 2012 and
$735,000 for all of 2012. The Company expects that Sheldon Ranch
operations will be profitable in fiscal year 2013.
Adjusted EBITDA (defined as net income excluding interest, income taxes,
depreciation and amortization, and non-cash impairment charges on real
estate development) in the fourth quarter of fiscal year 2012 was $1.1
million, compared to $1.5 million in the same period of fiscal year
2011. A reconciliation of Adjusted EBITDA to the GAAP measure net income
is provided at the end of this release.
Primarily as a result of a larger amount of capitalized interest on real
estate development projects during the fourth quarter of fiscal year
2012, interest expense was $114,000 compared to $298,000 in the same
period of fiscal year 2011. Non-cash fair value adjustments on the
Company's interest rate swap resulted in income of $212,000 in the
fourth quarter of fiscal year 2012, compared to $109,000 of expense in
the same period of the prior year.
Other income (expense) includes a $150,000 write off in the fourth
quarter of fiscal year 2012 of a note receivable related to a coffee
business that was discontinued in 2006.
Net income applicable to common stock, after preferred dividends, for
the fourth quarter of fiscal year 2012 was $76,000, or $0.01 per share.
Excluding the $125,000 operating loss associated with the previously
discussed Sheldon Ranch leases and $150,000 in losses on notes
receivable, net income would have been $351,000 or $0.03 per share. This
compares to net income applicable to common stock, after preferred
dividends, in the fourth quarter of fiscal year 2011 of $489,000, or
$0.04 per share.
Fiscal Year 2012 Results
For the fiscal year ended October 31, 2012, revenue was $65.8 million,
compared to $52.5 million last year. Operating income for fiscal year
2012 was $4.6 million, compared to $1.0 million last year. Net income
applicable to common stock, after preferred dividends, for fiscal year
2012 was $2.9 million, or $0.26 per share, compared to $1.3 million, or
$0.12 per share, in the same period last year. Excluding the $735,000
operating loss associated with the previously discussed Sheldon Ranch
leases and $265,000 in notes receivable losses comprised of $150,000
related to a discontinued business unit described above and a $115,000
loan to an internet television company to assist it in promoting Santa
Paula and surrounding areas, fiscal year 2012 net income applicable to
common stock would have been $3.9 million or $0.35 per share.
Lemon sales increased 41% to $44.2 million in fiscal year 2012, compared
to $31.2 million in fiscal year 2011 as a result of increased volume and
higher average prices. Fresh lemon cartons sold increased 33% to 2.4
million in fiscal year 2012 from 1.8 million in fiscal year 2011.
Avocado sales increased 27% to $9.5 million in fiscal year 2012,
compared to $7.5 million in fiscal year 2011 as a result of higher
production, partially offset by lower prices. The California avocado
crop typically experiences alternative years of high and low
productivity due to plant physiology.
Management Comments
Harold Edwards, President and Chief Executive Officer, stated, "We are
pleased to report a strong financial performance in fiscal year 2012, as
we improved both our top and bottom line results compared to last fiscal
year. Our total annual revenue increased 25% to $66 million, primarily
reflecting the strength of our agribusiness—in particular our lemon
business—throughout the year. We achieved solid Adjusted EBITDA of $6.9
million and generated cash from operating activities of $6.3 million in
fiscal 2012. Due to our consistent cash flow, we continued to pay a
quarterly dividend and announced a 20% dividend increase in September,
underscoring our confidence in our business going forward."
Mr. Edwards continued, "In fiscal year 2012, we completed several
strategic acquisitions and entered into key agreements that improved the
overall position of our agribusiness and will benefit our financial
results in fiscal year 2013. We acquired a total of 355 acres of
productive agricultural land in California and entered into the Sheldon
Ranch leases, most of which we believe will be accretive to our fiscal
year 2013 results. We now own or lease over 8,000 acres of agriculture
and real estate property, and continue to see a healthy pipeline of
potential agriculture acquisition properties, which will enable us to
further solidify our position as one of California's leading
agribusinesses. Regarding our real estate development efforts, we
continue to evaluate market conditions and are committed to capitalizing
on opportunities to monetize our real estate portfolio at the
appropriate time. We are pleased that on January 1, 2013 the Williamson
Act expired for Windfall Farms, which allows the project to be
subdivided into 76 ten acre parcels."
Balance Sheet and Liquidity
Cash generated by operating activities in fiscal year 2012 was $6.3
million, compared to $6.0 million fiscal year 2011. Net borrowings on
long-term debt were $6.8 million in fiscal year 2012 to finance the
acquisition of agriculture properties, real estate development
activities and on-going capital requirements.
Real Estate Development
During fiscal year 2012, the Company continued to execute its real
estate development strategy by capitalizing development costs of $5.1
million. In fiscal year 2011, the Company capitalized development costs
of $5.2 million.
Fiscal 2012 Business Highlights
The Company continues to benefit from the success of its direct lemon
sales and marketing strategy. In fiscal year 2012, lemon sales were
comprised of approximately 79% to U.S. and Canada-based customers and
21% to domestic exporters.
Alex Teague, Senior Vice President, stated, "We continue to benefit from
our direct lemon marketing and sales strategy. We now have over 100
different lemon customers, underscoring the success of our sales team.
In fiscal year 2012, we sold approximately 600,000 more fresh lemon
cartons than the last fiscal year, and we are looking forward to
continued growth in fiscal year 2013. To bolster our direct lemon sales
and marketing strategy, we launched a marketing campaign ‘Unleash the
Power of Lemons,' with the goal of building lemon sales and consumption
through fun and easy consumption ideas. We have recently announced
partnerships with experts in food, beauty, and lifestyle in major cities
including Los Angeles, New York, and Chicago to promote the many
innovative uses of lemons."
In fiscal year 2012, Limoneira continued to execute on its agribusiness
growth strategy of acquiring prime agriculture property throughout
California. The Company acquired 355 acres of agriculture property and
entered into the Sheldon Ranch leases for another 1,000 acres. Limoneira
currently owns or leases 8,246 acres of agriculture and real estate
property compared to 6,840 acres owned or leased at the beginning of
fiscal year 2012.
Fiscal 2013 Outlook
The Company enters 2013 with approximately 800 additional revenue
generating agricultural acres, representing a 12% increase compared to
the beginning of fiscal 2012.
For the fiscal year ending October 31, 2013, the Company expects to sell
between 3.0 million to 3.2 million cartons of lemons, representing
approximately 25% increase over fiscal year 2012 and expects to sell
between 17 million to 19 million pounds of avocados, representing
approximately 50% increase compared to fiscal year 2012. Lemon and
avocado prices are expected to be less in fiscal year 2013 than 2012 due
to higher industry production.
In addition, the Company expects the Sheldon Ranch leases to be
profitable in fiscal 2013 compared to a loss of $735,000 in fiscal year
2012.
The Company expects the approval to annex East Area 1 into the city of
Santa Paula and the submission of the application to annex East Area 2
into the city of Santa Paula to occur during the first six months of
2013. Development and tract mapping for East Area 1 is anticipated by
early fiscal year 2014 with first phase construction to commence during
2014.
Conference Call Information
The Company will host a conference call and audio webcast January 15,
2013, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss its
financial results. To access the conference call, participants in the
U.S. should dial (800) 946-0713, and international participants should
dial (719) 325-2131. Participants are encouraged to dial in to the
conference call ten minutes prior to the scheduled start time. The call
will also be broadcast live over the Internet and accessible through the
Investor Relations section of the Company's website at www.limoneira.com. Visitors
to the website should select the "Investor" link to access the
webcast. The webcast will be archived and accessible on the same website
for 30 days following the call. A telephone replay will be available
through January 29, 2013, by calling (877) 870-5176 from the U.S. or
(858) 384-5517 from international locations to access the playback;
passcode is 6438636.
About Limoneira Company
Limoneira Company, a 119-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 8,200
acres of rich agricultural lands, real estate properties and water
rights in California. 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.
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; 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, 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. Unaudited EBITDA and
Adjusted EBITDA are summarized and reconciled to net income, which
management considers to be the most directly comparable financial
measure calculated and presented in accordance with GAAP as follows:
|
|
|
|
|
|
|
|
|
Three months ended October 31,
|
|
Years Ended October 31,
|
|
|
|
|
2012
|
|
|
2011
|
|
|
2012
|
|
|
2011
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
141,000
|
|
|
$
|
554,000
|
|
$
|
3,150,000
|
|
|
$
|
1,598,000
|
|
Total interest (income) expense, net
|
|
|
(124,000
|
)
|
|
|
169,000
|
|
|
(335,000
|
)
|
|
|
619,000
|
|
Income taxes
|
|
|
477,000
|
|
|
|
260,000
|
|
|
1,978,000
|
|
|
|
707,000
|
|
Depreciation and amortization
|
|
|
560,000
|
|
|
|
546,000
|
|
|
2,131,000
|
|
|
|
2,207,000
|
|
EBITDA
|
|
|
1,054,000
|
|
|
|
1,529,000
|
|
|
6,924,000
|
|
|
|
5,131,000
|
|
Impairments of real estate development assets
|
|
|
-
|
|
|
|
-
|
|
|
-
|
|
|
|
1,196,000
|
|
Adjusted EBITDA
|
|
$
|
1,054,000
|
|
|
$
|
1,529,000
|
|
$
|
6,924,000
|
|
|
$
|
6,327,000
|
|
|
|
Limoneira Company
|
|
Consolidated Balance Sheets
|
|
|
|
|
|
October 31,
|
|
|
|
|
2012
|
|
|
|
2011
|
|
|
Assets
|
|
|
|
|
|
Current assets:
|
|
|
|
|
|
Cash
|
|
$
|
11,000
|
|
|
$
|
21,000
|
|
|
Accounts receivable, net
|
|
|
4,252,000
|
|
|
|
2,410,000
|
|
|
Notes receivable - related parties
|
|
|
42,000
|
|
|
|
36,000
|
|
|
Notes receivable
|
|
|
-
|
|
|
|
350,000
|
|
|
Cultural costs
|
|
|
2,254,000
|
|
|
|
926,000
|
|
|
Prepaid expenses and other current assets
|
|
|
2,116,000
|
|
|
|
1,385,000
|
|
|
Income taxes receivable
|
|
|
712,000
|
|
|
|
1,324,000
|
|
|
Total current assets
|
|
|
9,387,000
|
|
|
|
6,452,000
|
|
|
|
|
|
|
|
|
Property, plant and equipment, net
|
|
|
53,380,000
|
|
|
|
49,187,000
|
|
|
Real estate development
|
|
|
77,772,000
|
|
|
|
72,623,000
|
|
|
Equity in investments
|
|
|
8,947,000
|
|
|
|
8,896,000
|
|
|
Investment in Calavo Growers, Inc.
|
|
|
15,701,000
|
|
|
|
15,009,000
|
|
|
Notes receivable - related parties
|
|
|
16,000
|
|
|
|
56,000
|
|
|
Notes receivable
|
|
|
2,296,000
|
|
|
|
2,123,000
|
|
|
Other assets
|
|
|
5,123,000
|
|
|
|
4,682,000
|
|
|
Total Assets
|
|
$
|
172,622,000
|
|
|
$
|
159,028,000
|
|
|
Liabilities and Stockholders' Equity
|
|
|
|
|
|
Current liabilities:
|
|
|
|
|
|
Accounts payable
|
|
$
|
3,670,000
|
|
|
$
|
2,650,000
|
|
|
Growers payable
|
|
|
2,085,000
|
|
|
|
1,004,000
|
|
|
Accrued liabilities
|
|
|
4,017,000
|
|
|
|
2,399,000
|
|
|
Fair value of derivative instrument
|
|
|
1,072,000
|
|
|
|
-
|
|
|
Current portion of long-term debt
|
|
|
760,000
|
|
|
|
736,000
|
|
|
Total current liabilities
|
|
|
11,604,000
|
|
|
|
6,789,000
|
|
|
Long-term liabilities:
|
|
|
|
|
|
Long-term debt, less current portion
|
|
|
88,875,000
|
|
|
|
82,135,000
|
|
|
Deferred income taxes
|
|
|
10,488,000
|
|
|
|
10,160,000
|
|
|
Other long-term liabilities
|
|
|
8,953,000
|
|
|
|
7,892,000
|
|
|
Total long-term liabilities
|
|
|
108,316,000
|
|
|
|
100,187,000
|
|
|
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, 2012 and 2011) (8.75% coupon rate)
|
|
|
3,000,000
|
|
|
|
3,000,000
|
|
|
Series A Junior Participating Preferred Stock — $.01 par value
(20,000 shares authorized: -0- issued or outstanding at October 31,
2012 and 2011)
|
|
|
-
|
|
|
|
-
|
|
|
Common Stock — $.01 par value (19,900,000 shares authorized:
11,203,180 and 11,205,241 shares issued and outstanding at October
31, 2012 and 2011, respectively)
|
|
|
112,000
|
|
|
|
112,000
|
|
|
Additional paid-in capital
|
|
|
35,714,000
|
|
|
|
34,863,000
|
|
|
Retained earnings
|
|
|
16,398,000
|
|
|
|
14,980,000
|
|
|
Accumulated other comprehensive loss
|
|
|
(2,522,000
|
)
|
|
|
(903,000
|
)
|
|
Total stockholders' equity
|
|
|
52,702,000
|
|
|
|
52,052,000
|
|
|
Total Liabilities and Stockholders' Equity
|
|
$
|
172,622,000
|
|
|
$
|
159,028,000
|
|
|
|
|
Limoneira Company
|
|
Consolidated Statements of Operations
|
|
|
|
|
|
Three months ended
|
|
Years ended
|
|
|
|
October 31,
|
|
October 31,
|
|
|
|
(unaudited)
|
|
|
|
|
|
|
2012
|
|
|
|
2011
|
|
|
|
2012
|
|
|
|
2011
|
|
|
Revenues:
|
|
|
|
|
|
|
|
|
|
Agribusiness
|
|
$
|
13,641,000
|
|
|
$
|
9,837,000
|
|
|
$
|
61,553,000
|
|
|
$
|
46,085,000
|
|
|
Rental operations
|
|
|
1,064,000
|
|
|
|
1,004,000
|
|
|
|
4,023,000
|
|
|
|
3,948,000
|
|
|
Real estate development
|
|
|
90,000
|
|
|
|
41,000
|
|
|
|
252,000
|
|
|
|
2,462,000
|
|
|
Total revenues
|
|
|
14,795,000
|
|
|
|
10,882,000
|
|
|
|
65,828,000
|
|
|
|
52,495,000
|
|
|
Costs and expenses:
|
|
|
|
|
|
|
|
|
|
Agribusiness
|
|
|
10,676,000
|
|
|
|
7,284,000
|
|
|
|
47,300,000
|
|
|
|
35,180,000
|
|
|
Rental operations
|
|
|
671,000
|
|
|
|
542,000
|
|
|
|
2,418,000
|
|
|
|
2,230,000
|
|
|
Real estate development
|
|
|
282,000
|
|
|
|
281,000
|
|
|
|
1,037,000
|
|
|
|
3,551,000
|
|
|
Impairments of real estate development assets
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,196,000
|
|
|
Selling, general and administrative
|
|
|
2,708,000
|
|
|
|
1,932,000
|
|
|
|
10,517,000
|
|
|
|
9,328,000
|
|
|
Total costs and expenses
|
|
|
14,337,000
|
|
|
|
10,039,000
|
|
|
|
61,272,000
|
|
|
|
51,485,000
|
|
|
Operating income
|
|
|
458,000
|
|
|
|
843,000
|
|
|
|
4,556,000
|
|
|
|
1,010,000
|
|
|
Other income (expense):
|
|
|
|
|
|
|
|
|
|
Interest expense
|
|
|
(114,000
|
)
|
|
|
(298,000
|
)
|
|
|
(508,000
|
)
|
|
|
(1,260,000
|
)
|
|
Interest income (expense) from derivative instruments
|
|
|
212,000
|
|
|
|
109,000
|
|
|
|
739,000
|
|
|
|
537,000
|
|
|
Gain on sale of Rancho Refugio/Caldwell Ranch |
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
1,351,000
|
|
|
Interest income
|
|
|
26,000
|
|
|
|
20,000
|
|
|
|
104,000
|
|
|
|
104,000
|
|
|
Other income (expense), net
|
|
|
(150,000
|
)
|
|
|
24,000
|
|
|
|
64,000
|
|
|
|
482,000
|
|
|
Total other income (expense)
|
|
|
(26,000
|
)
|
|
|
(145,000
|
)
|
|
|
399,000
|
|
|
|
1,214,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before income tax provision and equity in earnings of
investments
|
|
|
432,000
|
|
|
|
698,000
|
|
|
|
4,955,000
|
|
|
|
2,224,000
|
|
|
Income tax provision
|
|
|
(477,000
|
)
|
|
|
(260,000
|
)
|
|
|
(1,978,000
|
)
|
|
|
(707,000
|
)
|
|
Equity in earnings of investments
|
|
|
186,000
|
|
|
|
116,000
|
|
|
|
173,000
|
|
|
|
81,000
|
|
|
Net income
|
|
|
141,000
|
|
|
|
554,000
|
|
|
|
3,150,000
|
|
|
|
1,598,000
|
|
|
Preferred dividends
|
|
|
(65,000
|
)
|
|
|
(65,000
|
)
|
|
|
(262,000
|
)
|
|
|
(262,000
|
)
|
|
Net income applicable to common stock
|
|
$
|
76,000
|
|
|
$
|
489,000
|
|
|
$
|
2,888,000
|
|
|
$
|
1,336,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net income per common share
|
|
$
|
0.01
|
|
|
$
|
0.04
|
|
|
$
|
0.26
|
|
|
$
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net income per common share
|
|
$
|
0.01
|
|
|
$
|
0.04
|
|
|
$
|
0.26
|
|
|
$
|
0.12
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends per common share
|
|
$
|
0.04
|
|
|
$
|
0.03
|
|
|
$
|
0.13
|
|
|
$
|
0.13
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding-basic
|
|
|
11,203,000
|
|
|
|
11,205,000
|
|
|
|
11,202,000
|
|
|
|
11,205,000
|
|
|
Weighted-average common shares outstanding-diluted
|
|
|
11,203,000
|
|
|
|
11,205,000
|
|
|
|
11,202,000
|
|
|
|
11,208,000
|
|
Investor Contact:
ICR
John Mills
Senior Managing
Director
310-954-1105
Source: Limoneira Company
News Provided by Acquire Media
