Dominion Citrus Income Fund (TSX:DOM.UN) Second Quarter 2012 Report to Unitholders
Three months ended June 30, 2012 and July 2, 2011
TORONTO, ONTARIO--(Marketwire - Aug. 10, 2012) - Dominion Citrus Income Fund (TSX:DOM.UN) ("Dominion", the "Fund") reports net earnings from continuing operations of $204,000 rounding to
.01 per unit for the three months and $243,000 rounding to
.01 per unit for the six months ended June 30, 2012. Net loss from discontinued operations was $29,000 rounding to
.00 per unit for the three months and $61,000 rounding to
.00 per unit for the six months ended June 30, 2012.
The results for the three and six month periods ended June 30, 2012 and July 2, 2011 are summarized below (all figures in 000's except per unit results):
| | Three months ended: | | Six months ended: | |
| | 6/30/12 | | 7/02/11* | | 6/30/12 | | 7/02/11** | |
| Revenue | $ | 18,702 | | $ | 19,099 | | $ | 36,372 | | $ | 38,293 | |
| Net earnings (loss) from continued operations | $ | 204 | | $ | 732 | | $ | 243 | | $ | (2,141 | ) |
| | Per unit | $ | 0.01 | | $ | 0.03 | | $ | 0.01 | | $ | (0.10 | ) |
| Net earnings (loss) from discontinued operations | $ | (29 | ) | $ | (31 | ) | $ | (61 | ) | $ | (76 | ) |
| | Per unit | $ | 0.00 | | $ | 0.00 | | $ | 0.00 | | $ | 0.00 | |
| Net earnings (loss) | $ | 175 | | $ | 701 | | $ | 182 | | $ | (2,217 | ) |
| | Per unit | $ | 0.01 | | $ | 0.03 | | $ | 0.01 | | $ | (0.10 | ) |
| Units outstanding (000's) | | 21,186 | | | 19,757 | | | 21,186 | | | 19,757 | |
| *Second quarter ended 7/02/11 included $712,000 in insurance proceeds under other income. |
| **Six months ended 7/02/11 included a deferred tax asset write-off of $2,244,000 and $953,000 in restructuring expenses. |