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Stock impact report

Alico, Inc. Announces Financial Results for the Second Quarter and Six Months Ended March 31, 2018

Alico, Inc. (ALCO) 
US:NASDAQ Investor Relations: ir.stockpr.com/alicoinc/investor-home
Company Research Source: GlobeNewswire
FORT MYERS, Fla., May 07, 2018 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company”) (NASDAQ:ALCO) today announces financial results for the second quarter and six months ended March 31, 2018.  For the six months ended, the Company recorded net income of $3.2 million and earnings of $0.39 per diluted common share, compared to net income of $4.1 million and earnings of $0.49 per diluted common share in the prior year.  The decrease in net income is primarily due to the impact of Hurricane Irma on the current production season and a valuation allowance resulting in a tax expense of $6.1 million. Partially offsetting this decrease are lower operating expenses and a one-time deferred tax benefit of $10.1 million due to the federal corporate tax rate change enacted on December 22, 2017. When both periods are adjusted for non-recurring items related to transaction costs, separation and consulting fees, gains on sale of real estate and property and equipment, employee stock compensat Show less Read more
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