Business Context and Reporting Period
Company: Limoneira Company
Filing Type: Form 8-K (Current Report)
Date of Report: July 1, 2014
Event: Acquisition of packing house property and equipment from Marlin Ranching Company in Yuma, Arizona.
Key Financial Metrics
This filing reports a specific transaction rather than periodic financial results. Key transaction metrics include:
- Purchase Price: $1.4 million in cash and stock.
- Potential Earn-out: Up to $400,000 in cash.
- Expected Operating Income: Approximately $400,000 to $500,000 per year.
The filing text does not provide clear values for overall company revenue, profit, cash flow, margins, debt, or liquidity for the reporting period.
Material Changes
The material change reported is the expansion of the Company's operational footprint through the acquisition of the Marlin Ranching Company assets. The Company intends to utilize the facility to wash and pack lemons in Arizona.
Outlook and Management Commentary
Management expects the new Arizona operation to generate approximately $400,000 to $500,000 in annual operating income. The filing incorporates a press release (Exhibit 99.1) detailing the announcement. No specific risks, contingencies, or unusual items beyond the standard transaction terms were detailed in the text provided.
Investor Verification Checklist
- Verify the exact split between cash and stock in the $1.4 million purchase price.
- Review the specific performance metrics required to trigger the $400,000 earn-out.
- Confirm the timeline for the operational integration of the Yuma, Arizona facility.
- Assess the impact of this acquisition on the Company's overall capital structure and liquidity.