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Stock impact report

Alico, Inc. Announces Financial Results for the Third Quarter and Nine Months Ended June 30, 2018

Alico, Inc. (ALCO) 
US:NASDAQ Investor Relations: ir.stockpr.com/alicoinc/investor-home
Company Research Source: GlobeNewswire
FORT MYERS, Fla., Aug. 06, 2018 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico” or the “Company”) (NASDAQ:ALCO) today announces financial results for the third quarter and nine months ended June 30, 2018. For the nine months ended, the Company recorded net income of $12.3 million and earnings of $1.48 per diluted common share, compared to net income of $9.6 million and earnings of $1.15 per diluted common share in the prior year. Net income for the nine months ended June 30, 2018 benefited from a greater gain on sales of real estate, property and equipment and assets held for sale, lower operating expenses and a one-time deferred tax benefit of $10.0 million due to the federal corporate tax rate reduction enacted on December 22, 2017 but was offset by lower citrus production due to the impact of Hurricane Irma and a valuation allowance of $6.1 million related to expiring capital loss carryforwards. When both periods are adjusted for non-recurring items related to transaction costs, Show less Read more
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