Dominion Citrus Income Fund
TSX : DOM.UN

Dominion Citrus Income Fund

November 05, 2015 08:55 ET

Dominion Citrus Income Fund (TSX:DOM.UN) Third Quarter 2015 Report to Unitholders

Three months ended September 26, 2015 and September 27, 2014

TORONTO, ONTARIO--(Marketwired - Nov. 5, 2015) - Dominion Citrus Income Fund ("Dominion", the "Fund") (TSX:DOM.UN) reports a net loss from continuing operations of $43,000 rounding to ($0.00) per unit for the three months ended September 26, 2015 versus net earnings of $182,000 rounding to $0.01 per unit for three months ended September 27, 2014. Net earnings from continuing operations were $112,000 rounding to $0.01 per unit for the nine months ended September 26, 2015 versus net earnings of $1,229,000 rounding to $0.06 per unit for nine months ended September 27, 2014.

Results were impacted by the loss of programs and market share for key commodities such as grapes, oranges and lemons to competitors in 2015.

The results for the three and nine month periods ended September 26, 2015 and September 27, 2014 are summarized below (all figures in 000's except per unit results):

Three months ended: Nine months ended:
9/26/15 9/27/14 9/26/15 9/27/14
Revenue $ 15,782 $ 16,977 $ 49,893 $ 57,419
Net earnings (loss) from continued operations $ (43 ) $ 182 $ 112 $ 1,229
Per unit $ (0.00 ) $ 0.01 $ 0.01 $ 0.06
Net earnings (loss) $ (43 ) $ 182 $ 112 $ 1,229
Per unit $ (0.00 ) $ 0.01 $ 0.01 $ 0.06
Units outstanding (000's) 21,186 21,186 21,186 21,186

About Dominion Citrus Income Fund

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 continue to be listed on the TSX under the symbol DMN.PR.A.

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.

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