Citrus producer posts sales increase

FORT MYERS — Citrus production giant Alico posted sales gains in the first quarter compared with the same quarter one year ago, but it reported a net loss on expenses partially related to exploring more acquisitions.

Alico reported a net loss of $3 million on total operating revenues of $20.6 million in the first quarter. That compares with net income of $5.2 million on total operating revenues of $19.1 million in the first quarter of 2015.

Fort Myers-based Alico says it incurred expenses in the first quarter partially related to costs associated with exploring more acquisitions. Last year, the company became the nation's largest citrus producer with the acquisitions of Orange-Co and Silver Nip.