For the first quarter of fiscal year 2021, total net revenue was $38.3 million, compared to total net revenue of $41.7 million in the first quarter of the previous fiscal year.
Agribusiness revenue was $37.1 million, compared to $40.5 million in the first quarter of last fiscal year. Other operations revenue was similar to the prior fiscal year at $1.1 million.
Agribusiness revenue for the first quarter of fiscal year 2021 includes $25.0 million in fresh lemon sales, compared to $27.0 million of fresh lemon sales during the same period of fiscal year 2020.
The decrease was primarily the result of COVID-19 related food service closures reducing the demand for lemons in the food service marketplace and creating an over-supply in the retail marketplace, which resulted in lower average per carton prices in the first quarter of fiscal year 2021.
Approximately 1,320,000 cartons of fresh lemons were sold in aggregate during the first quarter of fiscal year 2021 at a $18.91 average price per carton ($20.05 U.S. and $10.53 Argentina) compared to approximately 1,280,000 cartons sold at a $21.12 average price per carton (all U.S.) during the first quarter of fiscal year 2020.
The Company recognized no avocado revenue in the first quarter of fiscal year 2021, compared to $0.2 million in the same period last fiscal year. Approximately 125,000 pounds were sold at a $1.34 average price per pound during the first quarter of fiscal year 2020.
The Company recognized $1.1 million of orange revenue in the first quarter of fiscal year 2021, compared to $2.3 million in the same period of fiscal year 2020, attributable to higher prices of oranges partially offset by a decrease in volume primarily due to harvest timing.
Approximately 119,000 cartons of oranges were sold during the first quarter of fiscal year 2021 at a $9.17 average price per carton, compared to approximately 196,000 cartons sold at a $6.71 average price per carton during the first quarter of fiscal year 2020. Specialty citrus and other crop revenue was similar to the prior fiscal year at $1.8 million.
Total costs and expenses for the first quarter of fiscal year 2021 decreased to $43.9 million, compared to $50.1 million in the first quarter of last fiscal year. The first quarter of fiscal year 2021 decrease in operating expenses was primarily attributable to decreases in harvest, growing and third-party grower costs partially offset by increased packing costs. Costs associated with agribusiness include packing costs, harvest costs, growing costs, costs related to the fruit procured and sold for third-party growers and depreciation and amortization expense.
Operating loss for the first quarter of fiscal year 2021 was $5.6 million, compared to operating loss of $8.5 million in the first quarter of the previous fiscal year.
Net loss attributable to common stock, after preferred dividends, for the first quarter of fiscal year 2021 was $4.3 million, compared to net loss of $6.6 million in the first quarter of fiscal year 2020. Net loss per diluted share for the first quarter of fiscal year 2021 was $0.25 compared to net loss per diluted share of $0.37 for the same period of fiscal year 2020.
Excluding the loss on stock in Calavo, adjusted net loss was $4.4 million or $0.25 per diluted share, compared to first quarter of fiscal year 2020 adjusted net loss of $5.2 million or $0.30 per diluted share. A reconciliation of adjusted net loss to net loss attributable to Limoneira Company is provided at the end of this release.
Adjusted EBITDA was a loss of $3.1 million in the first quarter of fiscal year 2021, compared to a loss of $5.0 million in the same period of fiscal year 2020. A reconciliation of adjusted EBITDA to net loss attributable to Limoneira Company is provided at the end of this release. ■
A low pressure wave forming along a cold front will track across the New England coast this morning, bringing a period of rain, heavy at times for much of New England, especially for Maine today.