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Alico fiscal Q1 loss widens YOY

Alico Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2014, came to a loss of 27 cents per share, compared with a loss of 11 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 a loss of $2.0 million, compared with a loss of $781,880 in the prior-year period.

The normalized profit margin climbed to negative 1.7% from negative 5.2% in the year-earlier period.

Total revenue climbed 7.8% year over year to $16.2 million from $15.0 million, and total operating expenses grew 15.4% on an annual basis to $18.4 million from $16.0 million.

Reported net income totaled $5.7 million, or 78 cents per share, compared to a loss of $728,300, or a loss of 10 cents per share, in the year-earlier period.