Limoneira Company reported unaudited consolidated financial results for the fourth quarter and full year ended October 31, 2014. For the quarter, the company reported net loss of $2,835,000 against $1,084,000 for the same period a year ago. LBITDA was $3,347,000 against $648,000 for the same period a year ago. Adjusted LBITDA was $3,347,000 against $553,000 for the same period a year ago. Total revenue was $16,302,000 against $14,287,000 for the same period a year ago. Operating loss was $4,524,000 against $1,613,000 for the same period a year ago. Loss before income taxes was $4,298,000 against $1,393,000 a year ago. Net loss applicable to common stock was $2,993,000 or $0.21 per common share basic and diluted against net income applicable to common stock of $1,149,000 or $0.08 loss per common share basic and diluted for the same period a year ago.

For the full year, the company reported net income of $6,991,000 against $4,906,000 for the same period a year ago. EBITDA was $14,020,000 against $9,872,000 for the same period a year ago. Adjusted EBITDA was $14,455,000 against $9,967,000 for the same period a year ago. Total revenue was $103,462,000 against $84,884,000 for the same period a year ago. Operating income was $9,893,000 against $5,398,000 for the same period a year ago. Income before income taxes was $10,564,000 against $8,141,000 a year ago. Net income applicable to common stock was $6,531,000 or $0.46 per common share basic and diluted against $4,644,000 or $0.36 per common share basic and diluted for the same period a year ago. Net cash from operating activities increased $10.2 million to $15.7 million, compared to $5.5 million in fiscal year 2013.

For the fiscal year ending October 31, 2015, the company expects operating income and net income for fiscal year 2015 to be similar to fiscal year 2014 operating income and net income as a result of higher anticipated avocado revenue due to the potential for increased production, depending on the extent of avocado freeze damage noted above and lower expected selling, general and administrative expenses offset by anticipated lower lemon revenue due to lower fresh lemon prices. In addition, subject to the extent of the avocado freeze damage, the company expects to earn approximately $9.4 million to $10.2 million in operating income in fiscal year 2015, compared to $9.9 million of operating income in fiscal year 2015. Income before tax is expected to be approximately $10.4 million to $11.1 million, compared to $10.6 million of income before tax for fiscal year 2014. The company expects earnings per diluted share to be in the range of $0.42 to $0.46, compared to fiscal year 2014 earnings per diluted share of $0.46.