Alico Inc. (ALCO)

Alico, Inc., through its subsidiaries, operates as a land management company in central and southwest Florida. The company grows and ships vegetable transplants to commercial farmers; cultivates sod for landscaping purposes; harvests fruit crop; and cultivates sugarcane for sale to a sugar processor. It also involves in harvesting, hauling, and marketing of citrus, as well as in the purchase and resale of citrus fruit. In addition, Alico engages in the production of beef cattle and the raising of replacement heifers. It sells cattle to packing and processing plants through local livestock auction markets and to contract cattle buyers in the United States. Further, the company rents land on a tenant-at-will basis for grazing, farming, oil exploration, and recreational uses; sells sabal palms, palm fans, oak trees, and other horticultural commodities to landscaping companies in Florida; develops and sells real estate property; writes crop insurance against catastrophic losses due to weather and disease; and involves in mining and production of rock, aggregate, sand, base rock, and other road building and construction materials. As of August 31, 2007, Alico owned 135,466 acres of land located in Collier, Glades, Hendry, Lee, and Polk counties. The company was founded in 1960 and is based in La Belle, Florida.

For the fiscal year ended 31 August 2006, Alico, Inc.'s, revenues increased 39% to $77.4M. Net income increased 6% to $6.5M. Revenues reflect increased prices for citrus products and the presence of revenue from Bowen Brothers Fruit. Net income was offset by an increase in corporate general & administrative expenses, decrease in profit on sale of bulk real estate and increased interest expenses.