Ahead of its full year results announcement next month, California-based fruit company Limoneira (NASDAQ: LMNR) has reported avocado sales went beyond the expected range for 2016. 

In a release, the company said it expected GAAP operating income for the 2016 fiscal year to reach between US$8.6-9.1 million.

"For the fiscal year ending October 31, 2016, the Company sold approximately 11.0 million pounds of avocados at approximately $0.95 per pound, which exceeded the upper end of its previous fiscal 2016 guidance range," the group said.

"The Company continues to expect to sell between 2.7 million and 3.0 million cartons of fresh lemons at an average price of approximately $23.00 per carton.

"Including approximately $3.4 million gain on sale of stock in Calavo Growers, Inc., fiscal year 2016 EBITDA is now expected to be in the range of $18.9 million to $19.4 million and fiscal year 2016 earnings per diluted share are expected to be in the range of $0.45 to $0.50."

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