Alico Inc. said its normalized net income for the fiscal second quarter ended March 31 amounted to 39 cents per share, a decrease of 40.3% from 65 cents per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $3.2 million, a decrease of 32.8% from $4.8 million in the year-earlier period.
The normalized profit margin fell to 6.5% from 11.8% in the year-earlier period.
Total revenue climbed 35.6% on an annual basis to $55.1 million from $40.6 million, and total operating expenses rose 46.7% year over year to $47.7 million from $32.5 million.
Reported net income declined 40.2% on an annual basis to $2.8 million, or 34 cents per share, from $4.7 million, or 64 cents per share.
