Alico revenues up 27% to $98M

FORT MYERS -- Alico Inc. (symbol: ALCO) earned $7.1 million in net income in its 2011 fiscal year (ended Sept. 30), a full turnaround from last year's performance, when the company lost $623,000.

Revenues grew more than 27%, from $77.2 million in 2010 to $98.6 million this year.

“Our agricultural operations benefitted from increased selling prices and increased production during fiscal year 2011,” explains Alico CEO JD Alexander in a statement.