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]