Alico, Inc. (ALCO) has reported a 47.08 percent plunge in profit for the year ended Sep. 30, 2016. The company has earned $6.99 million, or $0.84 a share in the year, compared with $13.21 million, or $1.64 a share for the last year. On the other hand, adjusted net income for the year stood at $7.85 million, or $0.94 a share compared with $13.98 million or $1.73 a share, a year ago. Revenue during the year dropped 5.83 percent to $144.20 million from $153.13 million in the previous year. Gross margin for the year expanded 80 basis points over the previous year to 24.31 percent. Total expenses were 84.85 percent of annual revenues, down from 87.26 percent for the last year. This has led to an improvement of 241 basis points in operating margin to 15.15 percent.
Operating income for the year was $21.85 million, compared with $19.50 million in the previous year.
However, the adjusted EBITDA for the year stood at $39.32 million compared with $48.61 million in the prior year period. At the same time, adjusted EBITDA margin contracted 447 basis points in the year to 27.27 percent from 31.75 percent in the last year.
Operating cash flow declines
Alico, Inc. has generated cash of $30.36 million from operating activities during the year, down 9.99 percent or $3.37 million, when compared with the last year. The company has spent $13.03 million cash to meet investing activities during the year as against cash outgo of $177.06 million in the last year.
The company has spent $16.17 million cash to carry out financing activities during the year as against cash inflow of $117.68 million in the last year period.
Cash and cash equivalents stood at $6.62 million as on Sep. 30, 2016, up 21.03 percent or $1.15 million from $5.47 million on Sep. 30, 2015.
Debt comes down marginally
Alico, Inc. has recorded a decline in total debt over the last one year. It stood at $202.81 million as on Sep. 30, 2016, down 1.72 percent or $3.54 million from $206.35 million on Sep. 30, 2015. Total debt was 44.22 percent of total assets as on Sep. 30, 2016, compared with 44.80 percent on Sep. 30, 2015. Debt to equity ratio was at 1.14 as on Sep. 30, 2016, down from 1.16 as on Sep. 30, 2015. Interest coverage ratio deteriorated to 2.21 for the year from 2.33 for the same period last year. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
