ALICO, INC. Form 8-K Summary
Business Context and Reporting Period
This Current Report (Form 8-K) was filed on December 14, 2009, by ALICO, INC., a Florida corporation. The filing announces financial results for the fourth quarter and the full fiscal year ended September 30, 2009.
Key Financial Metrics
| Metric | Q4 FY2009 | Q4 FY2008 | Full Year FY2009 | Full Year FY2008 |
|---|---|---|---|---|
| Operating Revenue | $4.7 million | $3.5 million | $89.5 million | $116.4 million |
| Net Income (Loss) | ($6.1) million | ($4.6) million | ($3.6) million | $4.7 million |
| Earnings Per Share | ($0.84) | ($0.62) | ($0.50) | $0.76 |
The filing does not provide specific data regarding cash flow, debt levels, liquidity ratios, or operating margins.
Material Changes
- Profitability: The company reported a net loss for the full fiscal year 2009, reversing a net profit of $4.7 million in the prior year. The Q4 2009 loss widened compared to Q4 2008.
- Revenue: While Q4 revenue increased by $1.2 million year-over-year, full-year revenue declined by $26.9 million (approximately 23%).
- Impairments: The Q4 2009 loss was significantly impacted by fixed asset impairments totaling $5.1 million before income taxes.
Outlook and Management Commentary
Management attributed the decrease in annual revenue largely to lower citrus prices experienced during the fiscal year ended September 30, 2009, compared to the prior year. The filing does not contain forward-looking guidance, specific risk factors, or details on contingencies beyond the reported impairments.
Investor Verification Checklist
- Verify the nature and recoverability of the $5.1 million fixed asset impairment.
- Assess the sustainability of the revenue decline due to lower citrus prices.
- Review the full financial statements (Exhibit 99.1) for details on cash flow and debt obligations not included in this summary.
- Confirm the impact of the impairment on future depreciation schedules and tax positions.