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Limoneira fiscal Q1 loss widens 16.5% YOY

Limoneira Co. said its normalized net income for the fiscal first quarter ended Jan. 31 came to a loss of 9 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 9 cents per share.

The per-share loss widened 16.0% year over year from 8 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.3 million, compared with a loss of $1.1 million in the year-earlier period.

The normalized profit margin declined to negative 4.6% from negative 4.2% in the year-earlier period.

Total revenue climbed 8.2% on an annual basis to $28.0 million from $25.9 million, and total operating expenses climbed 8.7% year over year to $30.5 million from $28.1 million.

Reported net income came to a loss of $1.6 million, or a loss of 11 cents per share, compared to a loss of $1.3 million, or a loss of 9 cents per share, in the prior-year period.