Dominion Citrus Income Fund
TSX : DOM.UN

Dominion Citrus Income Fund

August 11, 2011 16:45 ET

Dominion Citrus Income Fund (TSX:DOM.UN) Second Quarter 2011 Report to Unitholders

TORONTO, ONTARIO--(Marketwire - Aug. 11, 2011) -

Three months ended July 2, 2011 and June 26, 2010

Dominion Citrus Income Fund ("Dominion", the "Fund") (TSX:DOM.UN) reports operating profit of $262,000 for the three months ended July 2, 2011. This compares to an operating loss of $383,000 during the same period in 2010, thus marking a positive year-over-year increase of $645,000 in operating profit. The Fund recorded restructuring expenses of $171,000 during the quarter as it prepared to complete its move from the 51 Kelfield Street warehousing facility. Insurance proceeds of $712,000 were also recorded during the quarter as per the June 16, 2011 press release.

After accounting for these one-time items, the Fund had a net profit from continuing operations of $732,000 or $0.03 per unit compared to a net loss of $354,000 or $0.02 per unit for the same period in 2010. The net earnings from discontinued operations for the same periods were a net loss of $31,000 or $0.00 per unit versus a net loss of $42,000 or $0.00 per unit in 2010.

The second quarter of 2011 marks the first quarter in which the Fund will not have an auditor review performed on its financial statements.

About Dominion

The Fund is a publicly traded, unincorporated, open-ended limited purpose income trust. On January 1, 2006, all of the common shares of Dominion Citrus Limited ("DCL") were exchanged for trust units of the Fund. The trust units are listed on the TSX under the symbol DOM.UN. The Series A preference shares of DCL are listed on the TSX under the symbol DMN.PR.A.

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.

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