<p style="text-indent:0px; line-height:12px;"><span style="font-weight:bold;line-height:130%"> Santa Paula, CA</span><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">By Eric Anderson<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">3.14.13</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><img src="https://cdn.andnowuknow.com/legacyWriterImages/limoneira-march-14-2013-banner.jpg" alt="03/14/2013 - IMAGES" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Limoneira Company has announced first quarter fiscal year 2013 results, highlighted by a huge boost in lemon sales.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">During the first quarter, lemon sales spiked by 80% from $7.8 million to $14 million. The figure reflects a larger number of cartons of fresh lemons sold, partially offset by lower average price per carton. The company also experienced higher sales of lemon by-products compared to the same period last year, according to a release.<img src="https://cdn.andnowuknow.com/legacyWriterImages/limoneira-march-14-2013-cropped.jpg" alt="03/14/2013 - IMAGES" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Revenue increased from $10.2 million to $17.4 million, while agribusiness revenue rose by 77% percent from $9.2 million to $16.4 million.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Rental operations revenue remained flat at $1.0 million. Real estate development revenue grew from $44,000 to $48,000.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Operating loss grew from $4.7 million to $5.3 million, while EBITDA increased from $3.9 million to $4.4 million.<img src="https://cdn.andnowuknow.com/legacyWriterImages/limoneira-march-14-2013-cropped-2.jpg" alt="03/14/2013 - IMAGES" />Costs and expenses increased from $15 million to $22.7 million. The year-over-year increase in operating expenses primarily reflects increased agribusiness costs associated with the higher sales for this segment. Packing costs increased, primarily attributable to a higher volume of fresh lemons packed and sold compared to the same period of fiscal year 2012. On a per carton basis, packing costs fell from $6.34 to $5.60, as costs were leveraged across a larger volume of lemons packed and sold.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"> Third-party grower costs increased in the first quarter of fiscal year 2013 compared to the same quarter of last year, due to an increase in lemons procured from third-party growers and in particular from Associated Citrus Packers, which began in August 2012.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.limoneira.com/" target="_new">Limoneira</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">
