Dominion Citrus Income Fund
TSX : DOM.UN

Dominion Citrus Income Fund

August 10, 2012 13:50 ET

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 $0.01 per unit for the three months and $243,000 rounding to $0.01 per unit for the six months ended June 30, 2012. Net loss from discontinued operations was $29,000 rounding to $0.00 per unit for the three months and $61,000 rounding to $0.00 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.

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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