Farm firm sells $25M in crops

FORT MYERS -- Alico Inc. (symbol: ALCO) sold $25 million worth of citrus and sugarcane in the first quarter of its 2012 fiscal year, newly updated earnings figures show.

The Fort Myers-based land management company enjoyed a 60% over-the-year increase in agricultural revenues, and the explanation for the growth was fairly simple: the harvest season began earlier, and 4,000 additional acres of sugarcane were planted.

As a result, Alico was able to book a $1.9 million quarterly profit. A year ago, the company lost about $93,000 to start its 2011 fiscal year.