Alico posts loss

FORT MYERS — Alico posted a $500,000 net loss in its fourth quarter ending Sept. 30, but reported net income of $18.5 million for the year on better sales of citrus and sugarcane.

The Fort Myers-based agriculture company says the fourth quarter net loss of $500,000 on revenues of $6.6 million compares with a net loss of $1.5 million on revenues of $6.2 million for the same quarter one year ago.

Alico's fiscal year net income of $18.5 million on revenues of $127.2 million compares with net income of $7.1 million on revenues of $98.6 million in 2011.

“This is the third consecutive year we have significantly improved operating performance,” says JD Alexander, Alico's president and CEO, says in a statement.

“Additionally, we continue to strengthen our balance sheet by utilizing cash provided by operating activities and land sales to pay down long-term debt,” Alexander says. “As we look forward to 2013, we will look to continue to build on our strengthened operating results established over the past three years. We are also excited about the prospects of closing on the approximate $20.7 million conservation easement with the United States Department of Agriculture announced in September 2012.”