

<!-- EDGAR Online I-Metrix Xcelerate Instance Document, based on XBRL 2.1  http://www.edgar-online.com/ -->
<!-- Version:  6.13.8 -->
<!-- Round: 3 -->
<!-- Creation date: 2012-03-09T18:46:26Z -->
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  <dei:TradingSymbol contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">LMNR</dei:TradingSymbol>
  <dei:EntityRegistrantName contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">LIMONEIRA CO</dei:EntityRegistrantName>
  <dei:AmendmentFlag contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">false</dei:AmendmentFlag>
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  <dei:DocumentPeriodEndDate contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">2012-01-31</dei:DocumentPeriodEndDate>
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  <us-gaap:LeasesOfLessorDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;18. Sheldon Ranches Operating Leases&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In January 2012, the Company entered into a series of operating
leases for approximately 1,000 acres of lemon, orange, specialty
citrus and other crop orchards in Lindsay, California. Each of the
leases is for a ten-year term and provides for four five-year
renewal options with an aggregate base rent of approximately
$500,000 per year. The leases also contain profit share
arrangements with the landowners as additional rent on each of the
properties and a provision for the potential purchase of the
properties by Limoneira in the future. In accordance with the terms
of the lease agreements, Limoneira will not share in the citrus
crop revenue in its fiscal year ending October 31, 2012. The
Company incurred $44,000 of lease expense in the three months ended
January 31, 2012 related to these leases.&lt;/p&gt;
&lt;/div&gt;</us-gaap:LeasesOfLessorDisclosureTextBlock>
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  <us-gaap:OtherLiabilitiesDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;15.&amp;#xA0;Other Long-Term Liabilities&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
Other long-term liabilities consist of the following:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 87%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="text-align: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
January&amp;#xA0;31,&lt;br /&gt;
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
October&amp;#xA0;31,&lt;br /&gt;
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 74%; text-align: justify"&gt;Minimum pension
liability&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;5,357,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;5,474,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: justify"&gt;Fair value liability on
derivatives&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;3,827,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;2,352,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: justify; padding-bottom: 1pt"&gt;Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
61,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
66,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
9,245,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
7,892,000&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:OtherLiabilitiesDisclosureTextBlock>
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  <us-gaap:SegmentReportingDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;17. Segment Information&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company operates and tracks results in three reportable
operating segments: agribusiness,&amp;#xA0;rental operations, and real
estate development. The reportable operating segments of the
Company are strategic business units with different products and
services, distribution processes and customer bases. The
agribusiness segment includes farming and citrus packing
operations. The&amp;#xA0;rental operations&amp;#xA0;segment includes
housing and commercial rental operations, leased land, and organic
recycling. The real estate development segment includes real estate
development operations. The Company measures operating performance,
including revenues and earnings, of its operating segments and
allocates resources based on its evaluation. The Company does not
allocate selling, general and administrative expense, other income
(expense), interest expense and income tax expense, or specifically
identify them to its operating segments.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
Segment information for the three months ended January 31,
2012:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 95%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="text-align: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
Agribusiness&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
Rental&lt;br /&gt;
Operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
Real&amp;#xA0;Estate&lt;br /&gt;
Development&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
Corporate&amp;#xA0;and&lt;br /&gt;
Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
Total&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 35%"&gt;Revenues&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;9,202,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;991,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;44,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;&amp;#x2013;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;10,237,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Costs and expenses&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;11,027,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;476,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;235,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;2,718,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;14,456,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Depreciation and
amortization&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
363,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
92,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
13,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
53,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
520,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Operating
(loss) income&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(2,188,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
423,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(204,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(2,771,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(4,740,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
Segment information for the three months ended January 31,
2011:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 95%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
Agribusiness&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
Rental&lt;br /&gt;
Operations&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
Real&amp;#xA0;Estate&lt;br /&gt;
Development&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
Corporate&amp;#xA0;and&lt;br /&gt;
Other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
Total&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 35%"&gt;Revenues&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;4,875,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;970,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;56,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;&amp;#x2013;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;5,901,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Costs and expenses&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;7,240,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;471,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;268,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;2,891,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;10,870,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Depreciation and
amortization&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
398,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
89,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
22,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
59,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
568,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Operating
(loss) income&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(2,763,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
410,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(234,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(2,950,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
(5,537,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The following table sets forth revenues by category, by segment for
the three months ended:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 85%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
January&amp;#xA0;31,&lt;br /&gt;
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
January&amp;#xA0;31,&lt;br /&gt;
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="text-align: center"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 74%"&gt;Lemons&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;7,767,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;3,091,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;Avocados&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;124,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;6,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Navel and Valencia oranges&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;500,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;944,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Specialty citrus
and other crops&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
811,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
834,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Agribusiness revenues&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;9,202,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;4,875,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Rental operations&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;559,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;550,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Leased land&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;378,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;375,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Organic recycling
and other&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
54,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
45,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Rental operations revenues&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;991,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;970,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Real estate
development revenues&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
44,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
56,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Total
revenues&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
10,237,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
5,901,000&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:SegmentReportingDisclosureTextBlock>
  <us-gaap:LongTermDebtTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;9. Long-Term Debt&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Long-term debt is comprised of the following:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;January&amp;#xA0;31,&lt;br /&gt;
2012&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;October&amp;#xA0;31,&lt;br /&gt;
2011&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify; WIDTH: 74%"&gt;Rabobank revolving
credit facility secured by property with a net book value of
$12,260,000 at January 31, 2012 and October 31, 2011. The interest
rate is variable based on the one-month London Interbank Offered
Rate (LIBOR), which was 0.30% at January 31, 2012, plus 1.50%.
Interest is payable monthly and the principal is due in full in
June 2013.&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;61,117 ,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;53,802,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;Farm Credit West term loan secured
by property with a net book value of $11,635,000 at January 31,
2012 and $11,638,000 at October 31, 2011. The interest rate is
variable and was 3.25% at January 31, 2012. The loan is payable in
quarterly installments through November 2022.&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6,093,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;6,208,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;Farm Credit West term loan secured
by property with a net book value of $11,635,000 at January 31,
2012 and $11,638,000 at October 31, 2011. The interest rate is
variable and was 3.25% at January 31, 2012. The loan is payable in
monthly installments through May 2032.&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;885,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;892,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;Farm Credit West non-revolving line
of credit secured by property with a net book value of $3,845,000
at January 31, 2012 and $3,839,000 at October 31, 2011. The
interest rate is variable and was 3.50% at January 31, 2012.
Interest is payable monthly and the principal is due in full in May
2013.&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;12,966,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;12,966,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify; PADDING-BOTTOM: 1pt"&gt;Farm Credit
West term loan secured by property with a net book value of
$19,101,000 at January 31, 2012 and $18,867,000 at October 31,
2011. The interest rate is fixed at&amp;#xA0; 3.65% until November 2014
and will become variable for the remainder of the loan. The loan is
payable in monthly installments through October 2035.&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
8,951,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
9,003,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify"&gt;Subtotal&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;90,012,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;82,871,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify; PADDING-BOTTOM: 1pt"&gt;Less current
portion&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
742,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: right"&gt;
736,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: justify; PADDING-BOTTOM: 2.5pt"&gt;Total
long-term debt, less current portion&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
89,270,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: left"&gt;
$&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 2.5pt double; TEXT-ALIGN: right"&gt;
82,135,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; PADDING-BOTTOM: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In August 2008, the Company entered into a credit arrangement with
Rabobank whereby it could borrow up to $80,000,000 on a secured
line of credit. The initial agreement was superseded by amended
agreements in December 2008 and May 2009. The Company is subject to
an annual financial covenant and certain other restrictions at its
fiscal year end.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In November 2011, the Company entered into a Second Amendment to
Amended and Restated Line of Credit Agreement dated as of December
15, 2008, between the Company and Rabobank in order to (i) increase
the revolving line of credit from $80,000,000 to the lesser of
$100,000,000 or 60% of the appraised value of any real estate
pledged as collateral, which was $87,000,000 at January 31, 2012,
ii) amend the interest rate such that the line of credit bears
interest equal to LIBOR plus 1.80% effective July 1, 2013 and (iii)
extend the maturity date from June 30, 2013 to June 30, 2018.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Pursuant to the terms of the Promissory Note and Loan Agreement
dated as of September 15, 2005 between Windfall Investors, LLC and
Farm Credit West (the &amp;#x201C;Note&amp;#x201D;), which terms of such Note
permit the modification of the interest rate from time to time, the
entire unpaid principal balance of the Note will bear interest at a
fixed rate of 3.65% per year for three years as of November 1,
2011. Previously, the entire unpaid principal balance of the Note
accrued at 6.73% until October 31, 2011 and would have converted to
a variable rate on November 1, 2011.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Interest is capitalized on non-bearing orchards, real estate
development projects and significant construction in progress.
Interest of $707,000 and $599,000 was capitalized during the three
months ended January 31, 2012 and 2011, respectively, and is
included in property, plant and equipment and real estate
development assets in the Company&amp;#x2019;s consolidated balance
sheets.&lt;/p&gt;
&lt;/div&gt;</us-gaap:LongTermDebtTextBlock>
  <us-gaap:CostsAndExpenses contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">14977000</us-gaap:CostsAndExpenses>
  <us-gaap:PaymentsOfDividendsPreferredStockAndPreferenceStock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">66000</us-gaap:PaymentsOfDividendsPreferredStockAndPreferenceStock>
  <us-gaap:NetCashProvidedByUsedInOperatingActivities contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-4984000</us-gaap:NetCashProvidedByUsedInOperatingActivities>
  <us-gaap:RealEstateImprovements contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">248000</us-gaap:RealEstateImprovements>
  <us-gaap:PaymentsToAcquireEquityMethodInvestments contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">44000</us-gaap:PaymentsToAcquireEquityMethodInvestments>
  <us-gaap:ComprehensiveIncomeNetOfTax contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-1816000</us-gaap:ComprehensiveIncomeNetOfTax>
  <us-gaap:PreferredStockDividendsIncomeStatementImpact contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="INF">66000</us-gaap:PreferredStockDividendsIncomeStatementImpact>
  <us-gaap:GainLossOnDispositionOfAssets contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-188000</us-gaap:GainLossOnDispositionOfAssets>
  <us-gaap:EarningsPerShareTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;11. Basic and Diluted Net Loss per Share&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
Basic net loss per common share is calculated using the
weighted-average number of common shares outstanding during the
period without consideration of the dilutive effect of stock-based
compensation. Diluted net loss per common share is calculated using
the weighted-average number of common shares outstanding plus the
dilutive effect of stock-based compensation calculated using the
treasury stock method. Outstanding grants of zero shares and 7,983
shares were excluded from the computation of diluted net loss per
common share for the three months ended January 31, 2012 and 2011,
respectively, because such stock grants were anti-dilutive. The
Series B convertible preferred shares are anti-dilutive.&lt;/p&gt;
&lt;/div&gt;</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:CostOfGoodsAndServicesSold contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">11390000</us-gaap:CostOfGoodsAndServicesSold>
  <us-gaap:PaymentsOfDividendsCommonStock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">350000</us-gaap:PaymentsOfDividendsCommonStock>
  <us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-4386000</us-gaap:IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments>
  <us-gaap:InvestmentHoldingsTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;6. Investment in Calavo Growers, Inc.&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
In June 2005, the Company entered into a stock purchase agreement
with Calavo. Pursuant to this agreement, the Company purchased
1,000,000 shares, or approximately 6.9%, of Calavo&amp;#x2019;s common
stock for $10,000,000 and Calavo purchased 1,728,570 shares, or
approximately 15.1%, of the Company&amp;#x2019;s common stock for
$23,450,000. Under the terms of the agreement, the Company received
net cash consideration of $13,450,000. The Company has classified
its marketable securities investment as available-for-sale.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
In fiscal year 2009, the Company sold 335,000 shares of Calavo
stock for a total of $6,079,000, recognizing a total gain of
$2,729,000, which was recorded in other income (expense) in the
Company&amp;#x2019;s consolidated statement of operations. Additionally,
the changes in the fair value of the available-for-sale securities
result in unrealized holding gains or losses for the remaining
shares held by the Company. The Company recorded unrealized holding
gains of $3,079,000 ($1,854,000 net of tax) and $784,000 ($471,000
net of tax) during the three months ended January 31, 2012 and
2011, respectively.&lt;/p&gt;
&lt;/div&gt;</us-gaap:InvestmentHoldingsTextBlock>
  <us-gaap:ShareBasedCompensation contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">316000</us-gaap:ShareBasedCompensation>
  <us-gaap:BasisOfAccounting contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Preface&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The preparation of the unaudited interim consolidated financial
statements requires management to make use of estimates and
assumptions that affect the reported amount of assets and
liabilities, revenue and expenses and certain financial statement
disclosures. Actual results may differ from these estimates.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: 24.5pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The unaudited interim consolidated financial statements for the
three months ended January 31, 2012 and 2011 and balance sheet as
of January 31, 2012 included herein have not been audited by an
independent registered public accounting firm, but in
management&amp;#x2019;s opinion, all adjustments (consisting of normal
recurring adjustments) necessary to make a fair statement of the
financial position at January 31, 2012 and the results of
operations and the cash flows for the periods presented herein have
been made. The results of operations for the three months ended
January 31, 2012 are not necessarily indicative of the operating
results expected for the full fiscal year.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The consolidated balance sheet at October 31, 2011 included herein
has been derived from the audited consolidated financial statements
at that date but does not include all of the information and
footnotes required by U.S. generally accepted accounting principles
for complete financial statements.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: 24.5pt; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The unaudited interim consolidated financial statements included
herein have been prepared pursuant to the rules and regulations of
the U.S.&amp;#xA0;Securities and Exchange Commission (the
&amp;#x201C;SEC&amp;#x201D;). Although we believe the disclosures made are
adequate to make the information presented not misleading, certain
information and footnote disclosures normally included in financial
statements prepared in accordance with U.S. generally accepted
accounting principles have been condensed or omitted pursuant to
such rules or regulations. These unaudited interim consolidated
financial statements should be read in conjunction with the
consolidated financial statements and notes thereto included in the
Company&amp;#x2019;s Form 10-K for the fiscal year ended October 31,
2011.&lt;/p&gt;


&lt;/div&gt;</us-gaap:BasisOfAccounting>
  <us-gaap:EarningsPerShareDiluted contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD_per_shares" decimals="2">-0.26</us-gaap:EarningsPerShareDiluted>
  <us-gaap:OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">993000</us-gaap:OtherComprehensiveIncomeLossNetOfTaxPeriodIncreaseDecrease>
  <us-gaap:CommonStockDividendsPerShareCashPaid contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD_per_shares" decimals="2">0.03</us-gaap:CommonStockDividendsPerShareCashPaid>
  <us-gaap:PaymentsForProceedsFromOtherInvestingActivities contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">15000</us-gaap:PaymentsForProceedsFromOtherInvestingActivities>
  <us-gaap:IncreaseDecreaseInAccruedLiabilities contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-134000</us-gaap:IncreaseDecreaseInAccruedLiabilities>
  <us-gaap:InterestExpense contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">175000</us-gaap:InterestExpense>
  <us-gaap:OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-983000</us-gaap:OtherComprehensiveIncomeUnrealizedGainLossOnDerivativesArisingDuringPeriodNetOfTax>
  <us-gaap:OtherAssetsDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;8. Other Assets&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
Other assets consist of the following:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 85%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="text-align: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
January&amp;#xA0;31,&lt;br /&gt;
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" nowrap="nowrap" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
October&amp;#xA0;31,&lt;br /&gt;
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 74%; text-align: justify"&gt;Investments in mutual
water companies&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;1,758,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;1,480,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: justify"&gt;Acquired water and mineral
rights&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,536,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,536,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: justify"&gt;Definite-lived intangibles and
other assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,431,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,293,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: justify; padding-bottom: 1pt"&gt;Revolving
funds and memberships&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
420,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
373,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
5,145,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
4,682,000&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:OtherAssetsDisclosureTextBlock>
  <us-gaap:SubsequentEventsTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;19. Subsequent Events&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company has evaluated events subsequent to January&amp;#xA0;31,
2012 to assess the need for potential recognition or disclosure in
this Quarterly Report on Form 10-Q. Based upon this evaluation, it
was determined that no subsequent events occurred that require
recognition or disclosure in the unaudited consolidated financial
statements.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SubsequentEventsTextBlock>
  <us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;14. Retirement Plans&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Limoneira Company Retirement Plan (the &amp;#x201C;Plan&amp;#x201D;) is a
noncontributory, defined benefit, single employer pension plan,
which provides retirement benefits for all eligible employees of
the Company. Benefits paid by the Plan are calculated based on
years of service, highest five-year average earnings, primary
Social Security benefit, and retirement age. Effective June 2004,
the Company froze the Plan and no additional benefits accrued to
participants subsequent to that date. The Plan is administered by
City National Bank and Mercer Human Resource Consulting.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Plan is funded consistent with the funding requirements of
federal law and regulations. There were funding contributions of
$107,000 and zero during the three months ended January 31, 2012
and 2011, respectively.&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The following tables set forth the Plan&amp;#x2019;s net periodic cost,
changes in benefit obligation and Plan assets, funded status,
amounts recognized in the Company&amp;#x2019;s consolidated condensed
balance sheets, additional year-end information and assumptions
used in determining the benefit obligations and periodic benefit
cost.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The net periodic pension costs for the Company&amp;#x2019;s Defined
Benefit Pension Plan for the three months ended January 31 were as
follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 95%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 74%; text-align: left"&gt;Service cost&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;37,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;37,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Interest cost&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;201,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;213,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left"&gt;Expected return on plan assets&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(248,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;(248,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;)&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left; padding-bottom: 1pt"&gt;Recognized
actuarial loss&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
205,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
224,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: left; padding-bottom: 2.5pt"&gt;Net periodic
pension cost&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
195,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
226,000&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;/div&gt;</us-gaap:PensionAndOtherPostretirementBenefitsDisclosureTextBlock>
  <us-gaap:RepaymentsOfLongTermDebt contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">2929000</us-gaap:RepaymentsOfLongTermDebt>
  <us-gaap:PaymentsToAcquireOtherPropertyPlantAndEquipment contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">1667000</us-gaap:PaymentsToAcquireOtherPropertyPlantAndEquipment>
  <us-gaap:NetIncomeLoss contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-2809000</us-gaap:NetIncomeLoss>
  <us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;7. Notes Receivable &amp;#x2013; Related Parties&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
In connection with Company&amp;#x2019;s stock grant program, the Company
has recorded notes receivable and accrued interest from certain
employees totaling $65,000 and $92,000 at January 31, 2012 and
October 31, 2011, respectively.&lt;/p&gt;
&lt;/div&gt;</us-gaap:LoansNotesTradeAndOtherReceivablesDisclosureTextBlock>
  <us-gaap:NonoperatingIncomeExpense contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">354000</us-gaap:NonoperatingIncomeExpense>
  <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;2. Summary of Significant Accounting Policies&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;Recent Accounting Pronouncements&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;Financial Accounting Standards Board &amp;#x2013; Accounting
Standards Update (&amp;#x201C;FASB ASU&amp;#x201D;) 2011-05, Comprehensive
Income (Topic 220).&lt;/i&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In June&amp;#xA0;2011, the FASB issued guidance regarding the
presentation of comprehensive income. The new standard requires the
presentation of comprehensive income, the components of net income
and the components of other comprehensive income either in a single
continuous statement of comprehensive income or in two separate but
consecutive statements. The new standard also requires presentation
of adjustments for items that are reclassified from other
comprehensive income to net income in the statement where the
components of net income and the components of other comprehensive
income are presented. The updated guidance is effective on a
retrospective basis for financial statements issued for fiscal
years, and interim periods within those fiscal years, beginning
after December&amp;#xA0;15, 2011.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In December 2011, the FASB issued ASU 2011-12 &lt;i&gt;Comprehensive
Income (Topic 220)&lt;/i&gt; to defer the effective date for those
aspects of ASU 2011-05 relating to the presentation of
reclassification adjustments out of accumulated other comprehensive
income. The adoption of this standard will only impact the
presentation of the Company&amp;#x2019;s consolidated financial
statements and will have no impact on the reported results of
operations.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&lt;i&gt;&amp;#xA0;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;i&gt;FASB ASU 2011-04, Fair Value Measurement (Topic 820).&lt;/i&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In May&amp;#xA0;2011, the FASB issued ASU 2011-04, &lt;i&gt;Amendments to
Achieve Common Fair Value Measurement and Disclosure Requirements
in U.S. GAAP and IFRS&lt;/i&gt;, which amends ASC 820, &lt;i&gt;Fair Value
Measurement&lt;/i&gt;. The amended guidance changes the wording used to
describe many requirements in U.S. GAAP for measuring fair value
and for disclosing information about fair value measurements.
Additionally, the amendments clarify the FASB&amp;#x2019;s intent about
the application of existing fair value measurement requirements.
The guidance provided in ASU 2011-04 is effective for interim and
annual periods beginning after December&amp;#xA0;15, 2011 and is
applied prospectively. The provisions are effective for the
Company&amp;#x2019;s second quarter of fiscal year 2012. The Company
does not expect the adoption of these provisions to have a
significant effect on its consolidated financial statements.&lt;/p&gt;
&lt;/div&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
  <us-gaap:PaymentsToAcquireOtherInvestments contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">8000</us-gaap:PaymentsToAcquireOtherInvestments>
  <us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-2875000</us-gaap:NetIncomeLossAvailableToCommonStockholdersBasic>
  <us-gaap:InterestIncomeExpenseNonoperatingNet contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="INF">159000</us-gaap:InterestIncomeExpenseNonoperatingNet>
  <us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;10. Derivative Instruments and Hedging Activities&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company enters into interest rate swaps to minimize the risks
and costs associated with its financing activities. Derivative
financial instruments are as follows:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="text-align: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
Notional&amp;#xA0;Amount&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
Fair&amp;#xA0;Value&amp;#xA0;Net&amp;#xA0;Liability&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="text-align: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
January&amp;#xA0;31,&lt;br /&gt;
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"&gt;
October&amp;#xA0;31,&lt;br /&gt;
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
January&amp;#xA0;31,&lt;br /&gt;
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
October&amp;#xA0;31,&lt;br /&gt;
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 48%; text-align: left"&gt;Pay fixed-rate, receive
floating-rate interest&amp;#xA0; rate swap, maturing June 2013&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;42,000,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;42,000,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;2,058,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;2,352,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: left"&gt;Pay fixed-rate, receive floating-rate
forward interest rate swap, beginning July 2013 until June
2018&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;$&lt;/td&gt;
&lt;td style="text-align: right"&gt;40,000,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;$&lt;/td&gt;
&lt;td style="text-align: right"&gt;1,769,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;-&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;font style="font-size: 10pt"&gt;In April 2010, the Company cancelled
two interest rate swaps with notional amounts of $10,000,000 each
and amended the remaining interest rate swap from a notional amount
of $22,000,000 to a notional amount of $42,000,000. This remaining
interest rate swap was also amended to a pay-fixed rate of 3.63%,
which is 62 basis points lower than the original pay-fixed rate.
The receive floating-rate and maturity date of the amended interest
rate swap remain unchanged.&lt;/font&gt; &lt;font style="font-size: 10pt"&gt;The Company did not incur any out-of-pocket fees
related to the cancellation or amendment of these interest rate
swaps.&lt;/font&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
These interest rate swaps previously qualified as cash flow hedges,
and were accounted for as hedges under the short-cut method. On the
amendment date of the swap agreements, the fair value liability and
the related accumulated other comprehensive loss balance was
$2,015,000. The accumulated other comprehensive loss balance is
being amortized and included in interest expense over the remaining
period of the original swap agreements. Amortization was $135,000
and $154,000 for the three months ended January 31, 2012 and 2011,
respectively. The remaining accumulated other comprehensive balance
is $767,000, net of amortization of $1,248,000 at January 31,
2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
As a result of the re-negotiated terms of the derivatives above,
the remaining interest rate swap with a notional amount of
$42,000,000 no longer qualified for hedge accounting. Therefore,
mark to market adjustments to the underlying fair value net
liability is being recognized in interest income related to
derivative instruments and the net liability balance continues to
be recorded in other long-term liabilities in the Company&amp;#x2019;s
consolidated balance sheets. The mark to market adjustments
recognized by the Company resulted in non-cash interest income of
$294,000 and $631,000 during the three months ended January 31,
2012 and 2011, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
In November 2011, the Company entered into a forward interest rate
swap agreement with Rabobank International, Utrecht to fix the
interest rate at 4.30% on $40,000,000 of its outstanding borrowings
under the Rabobank line of credit beginning July 2013 until June
2018. This interest rate swap qualifies as a cash flow hedge and is
accounted for as a hedge under the short-cut method. Therefore, the
fair value adjustments to the underlying debt are deferred and
included in accumulated other comprehensive income (loss) and the
net liability is being recorded in other long-term liabilities in
the Company&amp;#x2019;s consolidated balance sheet at January 31,
2012.&lt;/p&gt;
&lt;/div&gt;</us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock>
  <us-gaap:EarningsPerShareBasic contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD_per_shares" decimals="2">-0.26</us-gaap:EarningsPerShareBasic>
  <us-gaap:NatureOfOperations contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;1. Business&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Limoneira Company, a Delaware Company (the &amp;#x201C;Company&amp;#x201D;),
engages primarily in growing citrus and avocados, picking and
hauling citrus, packing, marketing and selling lemons, and housing
rentals and other leasing operations. The Company is also engaged
in real estate development.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company markets and sells lemons directly to its foodservice,
wholesale and retail customers throughout the United States,
Canada, Asia and other international markets. The Company is a
member of Sunkist Growers, Inc. (&amp;#x201C;Sunkist&amp;#x201D;), an
agricultural marketing cooperative, and sells its oranges,
specialty citrus and other crops to Sunkist-licensed and other
third-party packinghouses.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company sells all of its avocado production to Calavo Growers,
Inc. (&amp;#x201C;Calavo&amp;#x201D;), a packing and marketing company listed
on NASDAQ under the symbol CVGW. Calavo&amp;#x2019;s customers include
many of the largest retail and food service companies in the United
States and Canada. The Company&amp;#x2019;s avocados are packed by
Calavo, sold and distributed under Calavo brands to its customers
primarily in the United States and Canada.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;font style="FONT-SIZE: 10pt"&gt;The unaudited interim consolidated
financial statements include the accounts of the Company and the
accounts of all the subsidiaries and investments in which a
controlling interest is held by the Company. The unaudited interim
condensed financial statements represent the consolidated balance
sheets, consolidated statements of operations, consolidated
statements of comprehensive loss and consolidated statements of
cash flows of Limoneira Company and its wholly-owned subsidiaries.
The Company&amp;#x2019;s subsidiaries include: Limoneira Land Company,
Limoneira Company International Division, LLC, Limoneira
Mercantile, LLC, Windfall Investors, LLC and Templeton Santa
Barbara, LLC. All significant intercompany balances and
transactions have been eliminated in consolidation. The Company
considers the criteria established under the Financial Accounting
Standards Board &amp;#x2013; Accounting Standards Code (&amp;#x201C;FASB
ASC&amp;#x201D;) 810, &lt;i&gt;Consolidations&lt;/i&gt;&lt;/font&gt; &lt;font style="FONT-SIZE: 10pt"&gt;and the effect of variable interest entities, in
its consolidation process. These unaudited consolidated financial
statements should be read in conjunction with the notes thereto
included in this quarterly report.&lt;/font&gt;&lt;/p&gt;
&lt;/div&gt;</us-gaap:NatureOfOperations>
  <us-gaap:DepreciationAndAmortization contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">520000</us-gaap:DepreciationAndAmortization>
  <us-gaap:SalesRevenueNet contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">9202000</us-gaap:SalesRevenueNet>
  <us-gaap:OperatingIncomeLoss contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-4740000</us-gaap:OperatingIncomeLoss>
  <us-gaap:IncreaseDecreaseInAccountsPayable contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">2009000</us-gaap:IncreaseDecreaseInAccountsPayable>
  <us-gaap:OperatingLeasesIncomeStatementMinimumLeaseRevenue contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">991000</us-gaap:OperatingLeasesIncomeStatementMinimumLeaseRevenue>
  <us-gaap:OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-122000</us-gaap:OtherComprehensiveIncomeMinimumPensionLiabilityNetAdjustmentNetOfTax>
  <us-gaap:SellingGeneralAndAdministrativeExpense contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">2771000</us-gaap:SellingGeneralAndAdministrativeExpense>
  <us-gaap:IncomeTaxExpenseBenefit contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-1580000</us-gaap:IncomeTaxExpenseBenefit>
  <us-gaap:OtherNoncashIncome contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">20000</us-gaap:OtherNoncashIncome>
  <us-gaap:WeightedAverageNumberOfSharesOutstandingBasic contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="shares" decimals="0">11205000</us-gaap:WeightedAverageNumberOfSharesOutstandingBasic>
  <us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">576000</us-gaap:IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;3. Fair Value Measurements&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Under the FASB ASC 820, &lt;i&gt;Fair Value Measurement and
Disclosures&lt;/i&gt;, a fair value measurement is determined based on
the assumptions that a market participant would use in pricing an
asset or liability. A three-tiered hierarchy draws distinctions
between market participant assumptions based on (i) observable
inputs such as quoted prices in active markets (Level 1), (ii)
inputs other than quoted prices in active markets that are
observable either directly or indirectly (Level 2) and (iii)
unobservable inputs that require the Company to use present value
and other valuation techniques in the determination of fair value
(Level 3).&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The following table sets forth the Company&amp;#x2019;s financial assets
and liabilities as of January 31, 2012, that are measured on a
recurring basis during the period, segregated by level within the
fair value hierarchy:&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table style="WIDTH: 100%; FONT: 10pt Times New Roman, Times, Serif" cellspacing="0" cellpadding="0"&gt;
&lt;tr style="VERTICAL-ALIGN: bottom"&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Level&amp;#xA0;1&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Level&amp;#xA0;2&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Level&amp;#xA0;3&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="BORDER-BOTTOM: black 1pt solid; TEXT-ALIGN: center; FONT-WEIGHT: bold" colspan="2"&gt;Total&lt;/td&gt;
&lt;td style="PADDING-BOTTOM: 1pt; FONT-WEIGHT: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Assets at fair value:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-LEFT: 9pt; WIDTH: 48%"&gt;Available-for-sale
securities&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;18,088,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#x2013;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;&amp;#x2013;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right; WIDTH: 10%"&gt;18,088,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left; WIDTH: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: rgb(204,255,204); VERTICAL-ALIGN: bottom"&gt;
&lt;td style="TEXT-ALIGN: left"&gt;Liabilities at fair value:&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="BACKGROUND-COLOR: white; VERTICAL-ALIGN: bottom"&gt;
&lt;td style="PADDING-LEFT: 9pt"&gt;Derivatives&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#x2013;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,827,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;&amp;#x2013;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;$&lt;/td&gt;
&lt;td style="TEXT-ALIGN: right"&gt;3,827,000&lt;/td&gt;
&lt;td style="TEXT-ALIGN: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Available-for-sale securities consist of marketable securities in
Calavo common stock. The Company currently owns approximately 4.5%
of Calavo&amp;#x2019;s outstanding common stock. These securities are
measured at fair value by quoted market prices. Calavo&amp;#x2019;s
stock price at January&amp;#xA0;31, 2012 was $27.20 per share.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
Derivatives consist of interest rate swaps, the fair values of
which are estimated using industry-standard valuation models. Such
models project future cash flows and discount the future amounts to
a present value using market-based observable inputs. The fair
value of the interest rate swaps is included in other long-term
liabilities in the consolidated balance sheet.&lt;/p&gt;
&lt;/div&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:CapitalExpendituresIncurredButNotYetPaid contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">84000</us-gaap:CapitalExpendituresIncurredButNotYetPaid>
  <us-gaap:CashPeriodIncreaseDecrease contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="INF">7000</us-gaap:CashPeriodIncreaseDecrease>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;13. Income Taxes&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company&amp;#x2019;s estimated annual effective tax rate for fiscal
2012 is approximately 34.0%. As such, and after certain discrete
items, a 36.2% effective tax rate was utilized by the Company for
the first quarter of fiscal year 2012 to calculate its income tax
provision.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
There has been no material change to the Company&amp;#x2019;s uncertain
tax position for the three months ended January 31, 2012. The
Company does not expect its unrecognized tax benefits to change
significantly over the next 12 months.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company&amp;#x2019;s policy is to recognize interest expense and
penalties related to income tax matters as a component of income
tax expense. The Company has not accrued any interest and penalties
associated with uncertain tax positions as of January 31, 2012.&lt;/p&gt;
&lt;/div&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
  <us-gaap:InterestPaid contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">889000</us-gaap:InterestPaid>
  <us-gaap:IncreaseDecreaseInInventories contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-263000</us-gaap:IncreaseDecreaseInInventories>
  <us-gaap:IncomeLossFromEquityMethodInvestments contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-3000</us-gaap:IncomeLossFromEquityMethodInvestments>
  <us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">1854000</us-gaap:OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;16. Stock-based Compensation&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
As of January 31, 2012, there are 15,310 shares of common stock
issued to employees in connection with a discontinued stock option
plan. Such shares are subject to repurchase by the Company and
constitute a liability due to the repurchase right. Reductions of
stock-based compensation of zero and $4,000 were recorded in the
three months ended January 31, 2012 and 2011, respectively, to
reflect the fair value of the repurchase obligation. The repurchase
obligation of $12,000 and $17,000 is included in other long-term
liabilities in the Company&amp;#x2019;s consolidated balance sheets at
January 31, 2012 and October 31, 2011, respectively. In February
2012, the Company repurchased 7,500 shares for approximately $6,000
in accordance with this repurchase obligation.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; TEXT-INDENT: 0.5in; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In January 2012, members of management exchanged 10,679 shares of
common stock with a fair market value of $17.77 per share (at the
date of the exchange) for the payment of payroll taxes associated
with the vesting of shares under the Company&amp;#x2019;s stock-based
compensation programs. The Company recognized $136,000 and $226,000
of stock-based compensation to management during the three months
ended January 31, 2012 and 2011, respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
In January 2012, 9,999 shares of common stock were granted to the
Company&amp;#x2019;s non-employee directors under the Company&amp;#x2019;s
stock-based compensation plans. The Company recognized $180,000 of
stock-based compensation to non-employee directors during each of
the three month periods ended January 31, 2012 and 2011.&lt;/p&gt;
&lt;/div&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:UnrealizedGainLossOnDerivatives contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">159000</us-gaap:UnrealizedGainLossOnDerivatives>
  <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;12. Related-Party Transactions&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company rents certain of its residential housing assets to
employees. The Company recorded $122,000 and $121,000 of rental
income from employees in the three months ended January 31, 2012
and 2011, respectively. There were no rental payments due from
employees at January 31, 2012 and October 31, 2011.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company has representation on the boards of directors of the
mutual water companies in which the Company has investments. The
Company recorded capital contributions and purchased water and
water delivery services from the mutual water companies, in
aggregate, of $530,000 and $316,000 in the three months ended
January 31, 2012 and 2011, respectively. Payments due to the mutual
water companies were, in aggregate, $278,000 and $25,000 at January
31, 2012 and October 31, 2011, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company had invested $300,000 in the career of Charlie Kimball,
a Formula 1 racing driver, who is related to a member of the
Company&amp;#x2019;s Board of Directors. The Company exercised repayment
options in fiscal year 2011, whereby $200,000 of the total $300,000
of investment was repaid in August 2011. The Company exercised its
remaining repayment option in January 2011 whereby in accordance
with the investment agreement the remaining $100,000 of the
investment plus an additional $25,000 was repaid in January
2012.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company has a presence on the board of directors of a
non-profit cooperative association that provides pest control
services for the agricultural industry. The Company purchased
services and supplies of $433,000 and $363,000 from the association
in the three months ended January 31, 2012 and 2011, respectively.
Payments due to the association were zero and $37,000 at January
31, 2012 and October 31, 2011, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The Company recorded dividend income of $366,000 in each of the
three month periods ended January 31, 2012 and 2011, respectively,
on its investment in Calavo, which is included in other income, net
in the Company&amp;#x2019;s consolidated statements of operations. The
Company had $124,000 and $6,000 of avocados sales to Calavo for the
three months ended January 31, 2012 and 2011, respectively. Such
amounts are included in agribusiness revenues in the
Company&amp;#x2019;s consolidated statements of operations.
Additionally, the Company leases office space to Calavo and
received rental income of $65,000 and $60,000 in the three months
ended January 31, 2012 and 2011, respectively. Such amounts are
included in&amp;#xA0;rental revenues in the Company&amp;#x2019;s
consolidated statements of operations.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
Certain members of the Company&amp;#x2019;s Board of Directors market
lemons through Limoneira Company pursuant to its customary
marketing agreements. During the three months ended January 31,
2012 and 2011, the aggregate amount of lemons procured from
entities owned or controlled by members of the Board of Directors
was $85,000 and $34,000, respectively, which is included in
agribusiness expense in the accompanying consolidated statements of
operations. Payments due to these Board members were $66,000 and
$125,000 at January 31, 2012 and October 31, 2011,
respectively.&lt;/p&gt;
&lt;/div&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
  <us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="shares" decimals="0">11205000</us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding>
  <us-gaap:NetCashProvidedByUsedInFinancingActivities contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">6725000</us-gaap:NetCashProvidedByUsedInFinancingActivities>
  <us-gaap:ProceedsFromIssuanceOfLongTermDebt contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">10070000</us-gaap:ProceedsFromIssuanceOfLongTermDebt>
  <us-gaap:IncreaseDecreaseInOtherOperatingAssets contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">186000</us-gaap:IncreaseDecreaseInOtherOperatingAssets>
  <lmnr:CapitalContribution contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">270000</lmnr:CapitalContribution>
  <lmnr:SupplementalUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">-3079000</lmnr:SupplementalUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax>
  <lmnr:SupplementalReclassificationOfAccruedInterestToDebtPrincipal contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0" unitRef="iso4217_USD" decimals="0">20000</lmnr:SupplementalReclassificationOfAccruedInterestToDebtPrincipal>
  <lmnr:InventoryRealEstateLandAndLandDevelopmentCostsTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;5. Real Estate Development Assets&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
Real estate development assets consist of the following:&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;table cellpadding="0" cellspacing="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif"&gt;
&lt;tr style="vertical-align: bottom"&gt;
&lt;td style="text-align: justify"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
January&amp;#xA0;31,&lt;br /&gt;
2012&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="font-weight: bold; padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td colspan="2" style="font-weight: bold; border-bottom: Black 1pt solid; text-align: center"&gt;
October&amp;#xA0;31,&lt;br /&gt;
2011&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; font-weight: bold"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="width: 74%; text-align: justify"&gt;East Areas 1 and 2&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;45,140,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;$&lt;/td&gt;
&lt;td style="width: 10%; text-align: right"&gt;44,431,000&lt;/td&gt;
&lt;td style="width: 1%; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: justify"&gt;Templeton Santa Barbara, LLC&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;9,522,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="text-align: right"&gt;9,325,000&lt;/td&gt;
&lt;td style="text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: rgb(204,255,204)"&gt;
&lt;td style="text-align: justify; padding-bottom: 1pt"&gt;Windfall
Investors, LLC&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
19,101,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 1pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: left"&gt;
&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 1pt solid; text-align: right"&gt;
18,867,000&lt;/td&gt;
&lt;td style="padding-bottom: 1pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;tr style="vertical-align: bottom; background-color: White"&gt;
&lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;Total
included in real estate development assets&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
73,763,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt"&gt;&amp;#xA0;&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: left"&gt;
$&lt;/td&gt;
&lt;td style="border-bottom: Black 2.5pt double; text-align: right"&gt;
72,623,000&lt;/td&gt;
&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&amp;#xA0;&lt;/td&gt;
&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;East Areas 1 and 2&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
In fiscal year 2005, the Company began capitalizing the costs of
two real estate projects east of Santa Paula, California, for the
development of 550 acres of land into residential units, commercial
buildings, and civic facilities. During the three months ended
January 31, 2012 and 2011, the Company capitalized $709,000 and
$675,000, respectively, of costs related to these real estate
projects. Additionally, in relation to these projects, the Company
incurred expenses of $6,000 and $15,000 in the three months ended
January 31, 2012 and 2011, respectively.&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;Templeton Santa Barbara, LLC&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
The four real estate development parcels within the Templeton Santa
Barbara, LLC project (&amp;#x201C;Templeton Project&amp;#x201D;) are
described as Centennial Square (&amp;#x201C;Centennial&amp;#x201D;), The
Terraces at Pacific Crest (&amp;#x201C;Pacific Crest&amp;#x201D;), Sevilla
and East Ridge.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
In February 2010, the Company and HM Manager, LLC formed a limited
liability company, HM East Ridge, LLC (&amp;#x201C;East Ridge&amp;#x201D;),
for the purpose of developing the East Ridge parcel. The
Company&amp;#x2019;s initial capital contribution into East Ridge was
the land parcel with a net carrying value of $7,207,000. The
Company made cash contributions of $44,000 to East Ridge during
each of the three month periods ended January 31, 2012 and 2011.
Since the Company has significant influence of, but less than a
controlling interest in, East Ridge, the Company is accounting for
its investment in East Ridge using the equity method of accounting
and the investment is included in equity in investments in the
Company&amp;#x2019;s January 31, 2012 and October 31, 2011 consolidated
balance sheets.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
In December 2011, the Company resumed real estate development
activities on Centennial, Pacific Crest and Sevilla after a period
of being idle. During the three months ended January 31, 2012 and
2011, the Company capitalized $197,000 and zero, respectively, of
costs related to these real estate parcels. Additionally, in
relation to these parcels, the Company incurred expenses of $13,000
and $34,000 in the three months ended January 31, 2012 and 2011,
respectively. The net carrying values of Centennial, Pacific Crest
and Sevilla at January 31, 2012 were $2,498,000, $2,862,000 and
$4,162,000, respectively, and at October 31, 2011 were $2,433,000,
$2,800,000 and $4,092,000, respectively.&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&lt;b&gt;Windfall Investors, LLC&lt;/b&gt;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;
On November 15, 2009, the Company acquired Windfall Investors,
which included $16,842,000 of real estate development assets.
During the three months ended January 31, 2012 and 2011, the
Company capitalized $234,000 and $285,000, respectively, of costs
related to this real estate development project. Additionally, in
relation to this project, the Company incurred net expenses of
$185,000 and $235,000 during the three months ended January 31,
2012 and 2011, respectively.&lt;/p&gt;
&lt;/div&gt;</lmnr:InventoryRealEstateLandAndLandDevelopmentCostsTextBlock>
  <lmnr:AccountsReceivableTextBlock contextRef="eol_PE689156--1210-Q0003_STD_92_20120131_0">&lt;div&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;4. Accounts Receivable&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&lt;b&gt;&amp;#xA0;&lt;/b&gt;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; BACKGROUND-COLOR: white; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company grants credit in the course of its operations to
customers, cooperatives, companies and lessees of the
Company&amp;#x2019;s facilities. The Company performs periodic credit
evaluations of its customers&amp;#x2019; financial condition and
generally does not require collateral. The Company provides
allowances on its receivables, as required, based on accounts
receivable aging and certain other factors. As of January 31, 2012
and October 31, 2011 the allowances totaled $92,000 and $65,000,
respectively.&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; BACKGROUND-COLOR: white; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
&amp;#xA0;&lt;/p&gt;
&lt;p style="TEXT-ALIGN: justify; BACKGROUND-COLOR: white; MARGIN: 0px; FONT: 10pt Times New Roman, Times, Serif"&gt;
The Company&amp;#x2019;s primary concentrations of credit risk at
January 31, 2012 consist of $638,000 due from a domestic exporter
for lemons and $825,000 due from a third-party packinghouse for
oranges and specialty crops. The Company sells all of its avocado
production to Calavo.&lt;/p&gt;
&lt;/div&gt;</lmnr:AccountsReceivableTextBlock>
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