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Limoneira misses Wall Street expectations for fourth quarter

By   /   Monday, January 11th, 2016  /   Comments Off on Limoneira misses Wall Street expectations for fourth quarter

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Santa Paula-based Limoneira Co. reported fiscal fourth-quarter net income of $654,000 on Jan. 11 after reporting a loss in the same period a year earlier.

The company said it had profit of 4 cents per share. Losses, adjusted for non-recurring gains, came to 23 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The agribusiness company posted revenue of $14.2 million in the period, beating Wall Street forecasts. Three analysts surveyed by Zacks expected $12.5 million.

For the year, the company reported profit of $7.1 million, or 46 cents per share. Revenue was reported as $100.3 million.

Limoneira shares have dropped nearly 5 percent since the beginning of the year. In the final minutes of trading on Jan. 11, shares hit $14.24, a decrease of 40 percent in the last 12 months.

Contact Glenn Rabinowitz at [email protected]

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