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Alico Restructures Real Estate Contract, Receives $2.5 Million

LA BELLE, Fla., Oct. 6, 2008 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced today that its subsidiary, Alico-Agri, Ltd., had received a payment of $2.5 million in escrow in connection with the restructure of a real estate contract ("East") with Ginn-LA…

Alico Hires Real Estate Executive

LA BELLE, Fla., Oct. 2, 2008 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced today the hiring of Don Schrotenboer as Vice-President of Real Estate, effective September 30, 2008. Mr. Schrotenboer will be responsible for providing entitlement, strategic…

Alico Extends Payment Date On Real Estate Contracts

LA BELLE, Fla., Sept. 30, 2008 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced today that its subsidiary, Alico-Agri, Ltd., had granted Ginn-LA Naples, Ltd, LLLP, and West FM Crockett, LLC ("Purchasers") an extension until October 3, 2008, to pay the amounts…

Alico Converts $50 Million of Its Line of Credit to a Fixed Interest 10 Year Term Note

LABELLE, Fla., Sept. 8, 2008 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced today that on September 3, 2008 the Company converted $50,000,000 of the outstanding balance on its $175,000,000 Revolving Line of Credit with Farm Credit of Southwest Florida to a…

Alico's Lead Director Will Not Stand for Re-election to Board of Directors

LABELLE, Fla., Sept. 8, 2008 (GLOBE NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced today that Gregory T. Mutz will not stand for re-election to Alico, Inc.'s Board of Directors in February 2009. He will serve out his current term on the Board. Mr. Mutz has served as…

Alico Reports Third Quarter Earnings

LABELLE, Fla., Aug. 11, 2008 (PRIME NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced net income for the third quarter of fiscal year 2008 of $5.0 million, or $0.68 per share, compared with a net loss of $19.0 million, or $2.58 per share, during the three months ended…

Alico, Inc. Announces Regular Quarterly Dividend

LABELLE, Fla., July 30, 2008 (PRIME NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced that at its Board of Directors meeting on July 25, 2008, the Board declared a quarterly dividend in the amount of $0.275 per share to be paid to shareholders of record as of October…

Alico Executes Complete Final Settlement With IRS

LA BELLE, Fla., July 1, 2008 (PRIME NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced that it had completed and executed a final settlement agreement with the IRS related to tax years 2000 - 2004 and had executed a similar agreement for its Agri-Insurance, Ltd.…

Alico, Inc. Appoints Dan L. Gunter as Chief Executive Officer

LABELLE, Fla., June 30, 2008 (PRIME NEWSWIRE) -- Alico, Inc. (Nasdaq:ALCO), a land management company, announced that Dan L. Gunter, President and Chief Operating Officer, was named Chief Executive Officer of the Company effective July 1, 2008. Mr. Gunter will succeed John R. Alexander who held…

Alico Corrects Ethanol Press Release

LaBELLE, Fla., June 3, 2008 (PRIME NEWSWIRE) -- Alico, Inc. (NASDAQ:ALCO), a land management company, announced yesterday that it was discontinuing its ethanol pursuits. The release as issued inadvertently omitted the sentence below: "During the past year, Alico has been working with New Planet…

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