Fiscal Year Ended December 31, 2012 and December 31, 2011
TORONTO, ONTARIO--(Marketwire - April 1, 2013) - Dominion Citrus Income Fund (TSX:DOM.UN) ("Dominion", the "Fund") reports net earnings from continuing operations of $831,000 or $0.04 per unit for the year ended December 31, 2012 versus a loss of $3,247,000 for the previous year. Net loss from discontinued operations was $94,000 rounding to $0.00 per unit for the year ended December 31, 2012 versus a loss of $96,000 and $0.00 per unit for the year ended December 31, 2011.
The results for years ended December 31, 2012 and December 31, 2011 are summarized below (all figures in 000's except per unit results):
|
|
Years ended:
|
|
|
|
12/31/12
|
|
|
12/31/11*
|
|
| Revenue |
|
$ |
71,124 |
|
|
$ |
75,772 |
|
| Net earnings (loss) from continued operations |
|
$ |
831 |
|
|
$ |
(3,247 |
) |
|
Per unit |
|
$ |
0.04 |
|
|
$ |
(0.16 |
) |
| Net earnings (loss) from discontinued operations |
|
$ |
(94 |
) |
|
$ |
(96 |
) |
|
Per unit |
|
$ |
(0.00 |
) |
|
$ |
(0.00 |
) |
| Net earnings (loss) |
|
$ |
737 |
|
|
$ |
(3,343 |
) |
|
Per unit |
|
$ |
0.04 |
|
|
$ |
(0.16 |
) |
| Units outstanding (000's) |
|
|
21,186 |
|
|
|
21,186 |
|
*Year ended 12/31/11 included $712,000 in insurance proceeds, offset by a deferred tax asset write-off of $2,244,000, $1,310,000 in restructuring expenses, and a $900,000 goodwill writedown.
About Dominion
Dominion is a diversified food company supplying fresh produce to a wide variety of customers in retail, foodservice and food distribution businesses. Dominion provides procurement, processing, repacking, sorting, grading, warehousing and distribution services to its major domestic markets being Ontario and Québec. Dominion also supplies products to customers in the United States. The Fund's website may be accessed at www.dominioncitrus.com.
Contact Information:
Dominion Citrus Ltd.
Jason Fielden
President & CEO
416-242-8341 x 250
www.dominioncitrus.com
