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ALCO...Alico Reports Third Quarter Earnings
Monday August 11, 5:04 pm ET
LABELLE, Fla., Aug. 11, 2008 (PRIME NEWSWIRE) -- Alico, Inc. (NasdaqGS:ALCO - News), a land management company, announced net income for the third quarter of fiscal year 2008 of $5.0 million, or $0.68 per share, compared with a net loss of $19.0 million, or $2.58 per share, during the three months ended June 30, 2007. For the nine months ended June 30, 2008, the Company reported net earnings of $9.3 million, or $1.26 per share, compared with a net loss of $10.9 million, or $1.48 per share, for the nine months ended June 30, 2007.
Results from both periods were impacted by the IRS audit assessments. Pretax income from continuing operations was $2.7 million, or $0.36 per share, and $9.8 million, or $1.33 per share for the three and nine months ended June 30, 2008, respectively, compared with $10.2 million, or $1.39 per share, and $24.5 million, or $3.33 per share, for the three and nine months ended June 30, 2007, respectively.
Operating revenues during the third quarter of fiscal year 2008 totaled $42.1 million, compared with $46.1 million for the three months ended June 30, 2007. Operating revenues were $113.0 million for the nine months ended March 31, 2008, compared with $127.4 million for the nine months ended June 30, 2007.
Dan L. Gunter, President and Chief Executive Officer, noted, ``We are continuing in our efforts to streamline operations, improve efficiencies and reduce costs, as well as to explore new strategic initiatives in order to increase profitability and shareholder value. During the past quarter, we have discontinued several unprofitable ventures, settled the IRS dispute and made changes that should result in a leaner and more responsive operation.'
Three months ended Nine months ended
June 30, June 30,
2008 2007 2008 2007
-------- -------- -------- --------
Revenues
Agriculture:
Bowen Brothers Fruit $ 17,451 $ 20,810 $ 44,294 $ 52,240
Citrus groves 17,528 19,640 40,679 46,729
Sugarcane 1,581 451 9,341 9,213
Cattle 3,049 2,893 6,451 8,093
Vegetables 1,522 898 5,460 3,803
Sod 404 527 877 1,577
-------- -------- -------- --------
Agriculture operations revenue 41,535 45,219 107,102 121,655
Real estate operations 1 79 3,870 3,329
Land leasing and other 542 450 1,674 1,275
Mining royalties 69 401 335 1,135
-------- -------- -------- --------
Total operating revenue $ 42,147 $ 46,149 $112,981 $127,394
======== ======== ======== ========
Three months ended Nine months ended
June 30, June 30,
2008 2007 2008 2007
-------- -------- -------- --------
Gross profit:
Agriculture:
Bowen Brothers Fruit $ 856 $ 480 $ 1,715 $ 1,138
Citrus groves 6,052 10,613 13,054 23,477
Sugarcane (41) 32 101 405
Cattle (363) 253 (1,290) 607
Vegetables 130 (2) (45) 553
Sod (391) 367 (456) 904
-------- -------- -------- --------
Gross profit from agricultural
operations 6,243 11,743 13,079 27,084
Real estate operations (293) 125 2,143 1,931
Other 407 790 1,561 2,110
-------- -------- -------- --------
Gross profit 6,357 12,658 16,783 31,125
Profits from the sale of bulk
real estate -- 239 817 1,277
Net interest and investment
income (216) 807 2,468 1,702
Corporate general and
administrative and other (3,471) (3,494) (10,283) (9,561)
Discontinued operations (816) (206) (927) (282)
-------- -------- -------- --------
Income before income taxes 1,854 10,004 8,858 24,261
Provision for income taxes (3,129) 29,025 (453) 35,199
-------- -------- -------- --------
Net Income $ 4,983 $(19,021) $ 9,311 $(10,938)
======== ======== ======== ========
Addressing the divisional results for the quarter, Mr. Gunter noted that:
* Citrus prices have declined an estimated 28% during fiscal year
2008 from their prior year levels. For this reason, the Company
expects profits from its citrus groves to be lower in fiscal year
2008 when compared with fiscal year 2007. Prices have declined in
the Florida citrus industry due to an increasing supply of citrus
as groves have recovered from the damages brought on by the
hurricanes of 2004 and 2005.
* Due to rising feed and fuel costs, cattle margins have eroded
considerably, causing the Company to write down its cattle
inventory by $0.4 million, to its net realizable value.
On June 30, 2008, the Company received the final Settlement Agreement related to the audits of Alico for the tax years 2000 through 2004 from the Internal Revenue Service. The terms of the IRS settlement agreement generated an income tax benefit of $5.2 million in the third quarter of fiscal year 2008.
On June 24, 2008 Florida Governor Charlie Crist announced that the South Florida Water Management District (SFWMD) was negotiating the purchase of the assets of United States Sugar Corporation (USSC). USSC (and its subsidiary Southern Gardens) is the Company's largest customer. Under the terms of the initial proposal USSC will continue its operations for a transition period of six years. The Company is evaluating various options regarding sugarcane production, including alternative uses for the property if determined necessary or advantageous.
Effective June 30, 2008, the Company ceased operating its Alico Plant World facility. The Company is currently leasing the Plant World facilities to a commercial greenhouse operator and has also sold a portion of the equipment used to operate the greenhouse. The results of Alico Plant World's operations have been reported as discontinued operations.
Also effective as of June 30, 2008, the Company discontinued its participation in Alico-J&J, LLC a joint venture vegetable farm. The Company is currently working to dissolve the venture and distribute the assets equitably among the members.
The Company has begun dissolution of its Agri-Insurance subsidiary, which has the effect of dissolving the Alico-Agri partnership. The dissolutions will transfer the assets of the subsidiaries to Alico, Inc. The costs of dissolution are not expected to be material to the Company.
About Alico, Inc.
Alico, Inc., a land management company operating in Central and Southwest Florida, owns approximately 135,500 acres of land located in Collier, Glades, Hendry, Lee and Polk counties. Alico is involved in various agricultural operations and real estate activities. Alico's mission is to grow its asset values through its agricultural and real estate activities to produce superior long-term returns for its shareholders.
Statements 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. Forward looking statements include expectations regarding the future performance of the Company's operating divisions. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.
Contact:
Alico, Inc.
La Belle, Florida
Dan L. Gunter
(863) 675-2966
--------------------------------------------------------------------------------
Source: Alico, Inc.
http://biz.yahoo.com/pz/080811/148405.html
BKR...Michael Baker Corp...in flight mode
TGB...Taseko Mines...just watching the wreckage
ALCO...Alico...trying to reason with hurricane season...
Alico Converts $50 Million of Its Line of Credit to a Fixed Interest 10 Year Term Note
Monday September 8, 4:59 pm ET
LABELLE, Fla., Sept. 8, 2008 (GLOBE NEWSWIRE) -- Alico, Inc. (NasdaqGS:ALCO - News), a land management company, announced today that on September 3, 2008 the Company converted $50,000,000 of the outstanding balance on its $175,000,000 Revolving Line of Credit with Farm Credit of Southwest Florida to a 10 year term loan bearing a fixed interest rate of 6.79% with equal payments of principal and interest of $1,712,403.26 per quarter until maturity.
http://biz.yahoo.com/pz/080908/149919.html
PRGN...Paragon...support becoming resistance...choppy seas,imo
[chart]www.purplemoon.com/Stickers/tr-gdskele.jpg>
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
MAM...Maine and Maritimes, watching for support
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
PRGN...Paragon Shipping
Should hit the reef soon,imo
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
WMAR...West Marine
...that ship already sailed,imo
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
NCEH...New Century Equity soon to be Wilhelmina Modeling
FSIN...Fushi Int'l
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
LGTY...on watch
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
NASD Percentage of stocks above their 200dma(eod)
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
DLM...DelMonte
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
MAM...Maine & Maritimes...she's giving all the right signals, imo...
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
SAPE...Sapient
...watching for a pullback
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
THRM...Thermage
Anti-wrinkle play, lol...
Earnings AH today:
http://biz.yahoo.com/prnews/080811/aqm531c.html?.v=1
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
ALCO...running!
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
ALCO...It's beautiful thing!
IMO
Do your own due dilligence. Never buy or sell securities based on non-professional advice from the polka community.
MAM....Maine & Maritimes
ALCO...Alico...
Recent tax settlement news that I've been screaming about for over a year.
http://biz.yahoo.com/pz/080701/145686.html
I recall it blooming last year around this same time. It was a sodfest!
MEA...Metalico, grinding out the 52w high, lots of value in that junkyard,imo...
WMAR...West Marine...women and children first, no panic, ready on the flares
TWLL...the one that got away,lol
TEC...swinging to the upside, all aboard the adx express,imo
Yes, MAM...Power in the wilderness, getting back to a reasonable valuation,imo...
ALCO...Swamp Divy...Alico, Inc. Announces Regular Quarterly Dividend
Tuesday April 29, 4:27 pm ET
LABELLE, Fla., April 29, 2008 (PRIME NEWSWIRE) -- Alico, Inc. (NasdaqGS:ALCO - News), a land management company, announced that at its Board of Directors meeting on April 25, 2008, the Board declared a regular quarterly dividend in the amount of $0.275 per share to be paid to shareholders of record as of July 31, 2008 with payment expected on or about August 15, 2008.
John R. Alexander, Chairman and CEO, stated, ``As we work through these current uncertain market conditions, we are confident with our Company's stability and strength. We are proud to pay a dividend again this quarter, making it the 12th consecutive quarterly dividend.''
About Alico, Inc.
Alico, Inc., a land management company operating in Central and Southwest Florida, owns approximately 135,500 acres of land located in Collier, Glades, Hendry, Lee and Polk counties. Alico is involved in various agricultural operations and real estate activities. Alico's mission is to grow its asset values through its agricultural and real estate activities to produce superior long-term returns for its shareholders.
Statements 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 that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the Company's reports and registration statements filed with the Securities and Exchange Commission.
Contact:
Alico, Inc.
John R. Alexander
La Belle, Florida
(863) 675-2966
--------------------------------------------------------------------------------
Source: Alico, Inc.
http://biz.yahoo.com/pz/080429/141272.html?printer=1
TEC...Teton... looks to continue,imo...serious tree shaking and head faking, though
WMAR...West Marine...Ready about! Hard to lee!
AQUI...Aquagold...
just watching, caveat emptor
MAM...Preliminary Findings of Maine Power Connection Feasibility Study
Thursday April 10, 1:36 pm ET
PRESQUE ISLE, ME--(MARKET WIRE)--Apr 10, 2008 -- Leaders of Maine Public Service Company (MPS), a subsidiary of Maine & Maritimes Corporation (AMEX:MAM - News), and Central Maine Power Company (CMP), a subsidiary of Energy East, today reported on the preliminary conclusions of the Maine Power Connection (MPC) feasibility study. The MPC study evaluates the feasibility of connecting the Maine Public Service system to the rest of the Maine and New England electric grid and to support development of substantial wind energy resources in northern Maine.....
...
The MPC feasibility study is divided into three phases:
-- Phase 1: Interconnect MPS territory to the New England electric grid
-- Phase 2: Interconnect MPS, plus 800 MW proposed wind projects
-- Phase 3: New northern Maine interconnect with eastern Canada
The study reached the following preliminary conclusions:
Phase 1:
-- 138 kV interconnection would be sufficient to connect existing MPS
system with the New England grid at estimated cost of $40 million
-- Not economically feasible if MPS ratepayers fund the project --
costs outweigh the potential economic benefits to MPS ratepayers
Phase 2:
-- MPS currently has transmission interconnection requests for more
than 800 MW of potential wind generation projects
-- New transmission capacity will support major wind development in
Aroostook County
-- Connecting MPS to the New England grid with a 345 kV transmission
line will support wind generation projects and be economically
feasible with the participation of ISO-NE and its member utilities
Phase 3:
-- A third Canadian interconnect merits further investigation
-- May provide access to additional renewable energy resources
CMP and MPS expect to complete the Phase 2 feasibility study by the Summer of 2008.
More information and a slide presentation outlining preliminary project participants are available on the Maine Power Connection website at www.mainepowerconnection.com.
About Maine Public Service Company:
Maine Public Service Company, a subsidiary of Maine & Maritimes Corporation (AMEX:MAM - News) is a regulated electric transmission and distribution utility serving approximately 36,000 electricity customer accounts in northern Maine. MAM is also the parent company of MAM Utility Services Group, an unregulated wholly-owned US subsidiary which focuses on such areas as transmission infrastructure to support wind generation, utility asset maintenance contracts, and other utility-related services. Corporate headquarters are located in Presque Isle, Maine, and the corporate website is www.maineandmaritimes.com.
http://biz.yahoo.com/iw/080410/0385692.html?printer=1
8-K for MAINE & MARITIMES CORP
--------------------------------------------------------------------------------
7-Apr-2008
Other Events, Financial Statements and Exhibits
ITEM 8.01 Other Events
Northern Maine Briefings Scheduled This Week Regarding Status of Proposed Electric Transmission Line
Maine Public Service Company, a wholly-owned subsidiary of Maine & Maritimes Corporation, and Central Maine Power Company this week will announce progress on a proposed power line being considered to directly connect northern Maine to the rest of the State. Teaming together, the two electric utilities entered into a partnership last year to study the economics and electrical feasibilities of constructing the "Maine Power Connection," a $400 - $500 million high-voltage electrical transmission line project. Briefings will be held throughout the week to update community business leaders, municipal officials, and economic development groups on preliminary findings. A news conference is scheduled for 11 a.m., Thursday, April 10, 2008, at Maine Public Service Company, G. Melvin Hovey Operations Center, 10 Parkhurst Siding Road, in Presque Isle, Maine.
http://biz.yahoo.com/e/080407/mam8-k.html
ABTG...Ambient...on Friday's contract news...
ALCO...Alico looking ready for a leg up,imo...
MAM...Maine and Maritimes...
ARTX Arotech Corporation Reports Results for the Fourth Quarter and Full Year, 2007
via COMTEX
March 25, 2008
Full Year Revenues Increase 34% Over 2006; Company Reports Net Earnings per Share for the Fourth Quarter
ANN ARBOR, MI, Mar 25, 2008 (MARKET WIRE via COMTEX News Network) --
Arotech Corporation (NASDAQ: ARTX), a provider of quality defense and security products for the military, law enforcement and security markets, today reported results for the quarter and full year ended December 31, 2007.
Fourth Quarter Results
Revenues for the fourth quarter reached $17.7 million, compared to $14.1 million for the corresponding period in 2006, an increase of 26%.
Gross profit for the fourth quarter was $5.8 million, or 33% of revenues, compared to $3.0 million, or 21% of revenues, for the corresponding period in 2006, a 12 point increase in the gross margin percentage.
The Company reported an operating profit for the fourth quarter of $412,000 compared to an operating loss of $(1.6) million for the corresponding period in 2006
http://investorshub.advfn.com/boards/read_msg.asp?message_id=27912150
UXG...U.S. Gold
RMIX...U.S. Concrete...
MAM...Maine and Maritimes...
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Welcome to the Backboard!
MUST READ POSTS:
Trading Wisdom : http://www.investorshub.com/boards/read_msg.asp?message_id=234672
A reading from the book of Serfdom:
"All tools are important - fundies and charts. Using one without the other is like eating peas with a knife.
But IMO, fundies are the reason to invest. Charts tell you when (or when to get out).---Serfdom
http://www.investorshub.com/boards/read_msg.asp?message_id=14610894
"The Magic Box" Setup by kgoodrich
#1. AROON- 8 You watch as the Aroon down crosses the 75 down and the aroon up comes up from zero. Most important. (\0/)
#2. WILLIAMS%R- 9 You watch the line cross the 50.
#3. ADX/DMI-5 You watch as the D+ line either crosses, or is higher then the D-
#4. MACD histogram- 5,15,10 You watch the negative bars register -50% smaller then the bar before it, or -50% smaller then the largest in the grouping.
#5. Full Stoch- 5,5 You watch the fast line cross the slow line while the aroon down(8) crosses the 87.50. Crossing the 20 would be best, when the williams agrees.
#6. Bollinger Band 20,2 You watch for the Magic Box to occur when the negative close touches above the lower bolly and the next day's close to it is positive growth in a white candle.
http://www.investorshub.com/boards/read_msg.asp?message_id=14660077
A merry heart doeth good like a medicine: but a broken spirit drieth the bones.- Proverbs 17:22
Aroon Up/Down/Oscillator(25)
Used to detect potential trends in stocks, the Aroon measures (developed by T. Chande) compute the amount of time since a closing value reached a new high or new low. Given a specified period, the Aroon Up will search for the highest closing value during that period and return the distance from the most recent day for when that high happened. The Aroon Down works in the same way except looking for the lowest closing vlaue. Finally, the Aroon Oscillator simply takes the difference between the two values. Valid ranges for the Aroon Up and Aroon Down are 0-100 and for the Aroon Oscillator the valid range is -100 to 100.
Chart Codes:
multi-trend:
various charts:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32305978
Matt Brown and the GH3 Conspiracy
http://wiffenproof.angelfire.com/mattindictment.pdf
investorshub.advfn.com/boards/read_msg.aspx
A Vast Library of Trading eBooks:
http://www.box.net/shared/prdbtjohn6
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