-   Second quarter revenue increased 70% to $13.2 million –  Operating income grew 166% to $1.0 million, driven by operating improvement in agribusiness  –   Achieved positive net income –

Santa Paula, CA., June 14, 2010 – Limoneira Company (NASDAQ: LMNR), a leading agribusiness with prime agricultural land and operations, real estate and water rights throughout California, today reported financial results for fiscal 2010 the second quarter and six-months ended April 30, 2010.

Fiscal 2010 Second Quarter

For the second quarter of fiscal 2010, revenue increased 70% to $13.2 million from revenue of $7.8 million in the second quarter last year.  Both of the Company’s main revenue sources—agriculture and rental—contributed to this period-over-period revenue growth.  Agriculture revenue was $12.2 million, compared to $6.8 million in the second quarter last year.  Rental revenue was $962,000 in the second quarter, up from $955,000 in the second quarter last year.

The 80% year-over-year increase in the Company’s agriculture revenue reflects higher revenue in all varieties of our crops for the fiscal 2010 second quarter compared to the second quarter last year.  Revenue from lemon sales increased to $7.9 million in the second quarter of fiscal 2010 from $5.3 million in the second quarter last year. This increase resulted from a $6.00 per carton increase in sales price in the 2010 second quarter compared to the second quarter of 2009. Revenue from avocado sales was $2.7 million in the second quarter of fiscal 2010 compared to $0.1 million in the second quarter last year. This increase was due to a higher volume of fruit harvested in the second quarter of 2010 compared to the second quarter of 2009. Navel and Valencia orange revenue was $0.8 million for the second quarter of 2010 compared to $0.7 million for the second quarter last year.  Specialty citrus revenue was $0.8 million for the second quarter of 2010 compared to $0.7 million for the second quarter last year.