Consolidated Statements of Operations - USD ($) |
3 Months Ended | 9 Months Ended | ||
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Jul. 31, 2017 |
Jul. 31, 2016 |
Jul. 31, 2017 |
Jul. 31, 2016 |
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Net revenues: | ||||
Agribusiness | $ 39,050,000 | $ 38,430,000 | $ 101,236,000 | $ 87,943,000 |
Rental operations | 1,345,000 | 1,454,000 | 4,144,000 | 4,273,000 |
Real estate development | 0 | 19,000 | 0 | 39,000 |
Total net revenues | 40,395,000 | 39,903,000 | 105,380,000 | 92,255,000 |
Costs and expenses: | ||||
Agribusiness | 23,022,000 | 21,151,000 | 75,821,000 | 67,861,000 |
Rental operations | 929,000 | 889,000 | 2,934,000 | 2,711,000 |
Real estate development | 47,000 | 249,000 | 172,000 | 1,880,000 |
Impairment of real estate development assets | 0 | 0 | 120,000 | 0 |
Selling, general and administrative | 3,229,000 | 3,420,000 | 10,192,000 | 9,728,000 |
Total costs and expenses | 27,227,000 | 25,709,000 | 89,239,000 | 82,180,000 |
Operating income | 13,168,000 | 14,194,000 | 16,141,000 | 10,075,000 |
Other income (expense): | ||||
Interest expense, net | (521,000) | (473,000) | (1,372,000) | (1,036,000) |
Gain on sale of stock in Calavo Growers, Inc. | 0 | 3,419,000 | 0 | 3,419,000 |
Equity in earnings of investments | 76,000 | 235,000 | 9,000 | 206,000 |
Other income, net | 37,000 | 47,000 | 364,000 | 463,000 |
Total other income (expense) | (408,000) | 3,228,000 | (999,000) | 3,052,000 |
Income before income tax provision | 12,760,000 | 17,422,000 | 15,142,000 | 13,127,000 |
Income tax provision | (5,017,000) | (6,693,000) | (5,935,000) | (5,088,000) |
Net income | 7,743,000 | 10,729,000 | 9,207,000 | 8,039,000 |
Net loss attributable to noncontrolling interest | 34,000 | 0 | 38,000 | 0 |
Net income attributable to Limoneira Company | 7,777,000 | 10,729,000 | 9,245,000 | 8,039,000 |
Preferred dividends | (125,000) | (156,000) | (435,000) | (471,000) |
Net income attributable to common stock | $ 7,652,000 | $ 10,573,000 | $ 8,810,000 | $ 7,568,000 |
Basic net income per common share | $ 0.53 | $ 0.75 | $ 0.62 | $ 0.53 |
Diluted net income per common share | 0.52 | 0.71 | 0.62 | 0.53 |
Dividends per common share | $ 0.06 | $ 0.05 | $ 0.17 | $ 0.15 |
Weighted-average common shares outstanding-basic | 14,396,000 | 14,178,000 | 14,287,000 | 14,165,000 |
Weighted-average common shares outstanding-diluted | 14,989,000 | 15,066,000 | 14,570,000 | 15,053,000 |
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- Definition This item represents the difference between the gross realized gains and losses realized on the sale of debt or equity securities categorized neither as held-to-maturity nor trading securities. Additionally, this item would include any losses recognized for other than temporary impairments (OTTI) of the subject investments in debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate dividends paid during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of expense incurred and directly related to generating revenue from leased and rented property or equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of paid and unpaid preferred stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The charge against earnings in the period to reduce the carrying amount of real property to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition The total amount of lease revenue recognized for the period for which the lessee was obligated under leasing arrangements regardless of any other events or conditions. This amount excludes contingent revenue and sublease revenue. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase in real estate investments related to improvements for entities with a substantial portion of business acquiring and holding investment real estate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition This element represents the recognition of revenue during the period for retail land sales which had been deferred due to such revenue being associated with the liability of the land developer (seller) as its obligation to complete improvements to land, which improvements were a component of the sales transaction. Such amount is generally recognized in revenue as the improvements are completed (percentage-of-completion). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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