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.
