Limoneira Q4 Loss Widens

(RTTNews) - Limoneira Company (LMNR) Monday reported fourth-quarter loss of $3.36 million or $0.19 per share, compared to last year's loss of $2.78 million or $0.19 per share.

For the fourth quarter, total revenues dropped to $14.7 million from $15.9 million last year.

Analysts polled by Thomson Reuters estimated loss of $0.31 per share and revenues of $16.5 million for the quarter.

CEO Harold Edwards said, "We achieved record revenue and earnings in fiscal 2018, closed on two strategic acquisitions and improved our balance sheet with a successful equity offering. We expect the positive pricing environment for lemons experienced in 2018 to continue throughout fiscal 2019, along with increased production and operating efficiencies in all areas of our business."