Alico Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of 33 cents per share, compared with a loss of 4 cents per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $2.8 million, compared with a loss of $318,750 in the year-earlier period.
The normalized profit margin declined to negative 13.2% from negative 1.7% in the year-earlier period.
Total revenue climbed 8.0% year over year to $20.6 million from $19.1 million, and total operating expenses climbed 22.8% year over year to $22.4 million from $18.2 million.
Reported net income came to a loss of $3.0 million, or a loss of 36 cents per share, compared to income of $5.2 million, or 71 cents per share, in the prior-year period.