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May 5 , 2021 ALICO incorporated Alico , Inc. Announces Financial Results for the Second Quarter and Six Months Ended March 31 , 2021 FORT MYERS , Fla . , May 05 , 2021 ( GLOBE NEWSWIRE ) -- Alico , Inc. ( " Alico " or the " Company " ) ( Nasdaq : ALCO ) today announces financial results for the second quarter of fiscal year 2021 and the six months ended March 31 , 2021 , the highlights which are as follows : • Market prices per pound solids have increased in fiscal year 2021 , driven by increase in not - from - concentrate orange juice consumption and tighter citrus supply . • Production of fruit and average pound solids per box are down from the previous year . • Company modified fixed - rate term debt with Metlife and expects to reduce debt service between $ 5 million and $ 6 million per year until maturity in November 2029 . • Company closed a sales transaction with the State of Florida for approximately 5,734 acres and is under contract to sell , or in final negotiations to sell , approximately 15,000 additional acres of the Alico Ranch . • Company generated approximately $ 25.6 million of operating cash flow in first six months of fiscal 2021 . • Company updates guidance for net income , EBITDA , adjusted net income and adjusted EBITDA for fiscal year 2021 . Results of Operations For the six months ended March 31 , 2021 , the Company recorded net income attributable to Alico common stockholders of approximately $ 8.7 million and earnings of $ 1.16 per diluted common share , compared to net income attributable to Alico common stockholders of approximately $ 4.4 million and earnings of $ 0.58 per diluted common share in the same period in the prior year . The increase in net income attributable to Alico common stockholders is primarily due to greater revenue being generated from the Alico Citrus segment as a result of the increase in the price per pound solids being greater in the six months ended March 31 , 2021 , compared to the six months ended March 31 , 2020. Partially offsetting this increase , has been a significant reduction in both production and average pound solids per box in the six months ended March 31 , 2021 as compared to the same period in the prior year . When both quarters are adjusted for certain non - recurring items , the Company had adjusted income of $ 0.43 per diluted common share for the six months ended March 31 , 2021 ,