AND EXCHANGE COMMISSION
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Report (Date of earliest event reported) July
Box 338, La Belle, FL 33975
of principal executive offices) (Zip
telephone number, including area code: (863)
name or former address, if changed since last report)
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange
(17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange
(17 CFR 240.13e-4(c))
2.02. Results of Operations and Financial Condition.
by reference is a press release issued by the Registrant on July 7,
attached as Exhibit 99.1, announcing earnings for the quarter
ended May 31, 2005.
Financial Statements and Exhibits.
99.1 - Press release announcing earnings for the quarter ended May
2005, dated July 7, 2005.
to the requirements of the Securities Exchange Act of 1934, the registrant
duly caused this report to be signed
behalf by the undersigned hereunto duly authorized.
John R. Alexander
John R. Alexander
Chief Executive Officer
Inc. Reports Third Quarter Results
Belle, Florida, July 7, 2005 - Alico, Inc., (NASDAQ: ALCO)
the South’s best known agribusiness companies operating in Central and Southwest
Florida, and with approximately 141,000 acres in real estate holdings, announced
net earnings for the third quarter of fiscal 2005 of $2.6 million, or $0.36
share compared with net earnings of $2.3 million, or $0.32 per share, during
third quarter a year ago. For the nine months ended May 31, 2005, net earnings
were $3.6 million or $0.49 per share. This compares with $15.1 million or
per share, during the nine month period ended May 31, 2004.
revenues during the three months ended May 31, 2005 totaled $19.3 million,
were substantially unchanged compared with the same period a year ago. Operating
revenues for the nine months ended May 31, 2005 were $46.3 million compared
$44.5 million for the first nine months of fiscal 2004. The increase was
primarily due to higher citrus prices and the sale of plants and trees through
Alico Plant World.
equity as of May 31, 2005 was $151.1 million, compared with $142.2 million
May 31, 2004.
Alexander, Chairman and Chief Executive Officer noted, “The decrease in net
earnings for the nine months ended May 31, 2005 was primarily due to a decrease
in earnings from real estate sales, compared with the same period a year
the prior year, several large real estate transactions closed, generating
earnings of $12.6 million. No significant real estate transactions have closed
during the first nine months of fiscal 2005.”
the divisional results, Chairman and Chief Executive Officer John R. Alexander
Citrus Division reported operating profits of $3.6 million and $4.9 million
the third quarter and first nine months of fiscal 2005, respectively; while
during the same periods a year ago, operating profits of $1.6 million and
million were reported. A reduced Florida orange crop, caused by a series
hurricanes, resulted in increased citrus prices when compared with the prior
Operating profits for the Sugarcane Division were $139 thousand and $541
thousand for the quarter and nine months ended May 31, 2005, respectively,
compared with $527 thousand and $2.2 million for the quarter and nine months
ended May 31, 2004, respectively. Lower prices, increased costs and reduced
yields combined to cause the decrease.
operating profits were $1.1 million and $1.8 million for the quarter and
months ended May 31, 2005, respectively, compared with $605 thousand and
million for the quarter and nine months ended May 31, 2004, respectively.
increase was due to higher prices for beef products.
Inc., an agribusiness company operating in Central and Southwest Florida,
approximately 141,000 acres of land located in Collier, Hendry, Lee and Polk
counties. The Company is involved in various operations and activities including
citrus fruit production, cattle ranching, sugarcane, sod production, and
forestry. The Company also leases land for farming, cattle grazing, recreation
and oil exploration, and is increasingly involved in exploring real estate
development in and beyond its holdings.
in this press release that are not statements of historical or current fact
constitute “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks, uncertainties and other unknown factors
could cause the actual results of the Company to be materially different
the historical results or from any future results expressed or implied by
forward-looking statements. The forward-looking statements contained herein
also subject generally to other risks and uncertainties that are described
time to time in the Company’s reports and registration statements filed with the
Securities and Exchange Commission.
further information contact: John