Annual report pursuant to section 13 and 15(d)

Consolidated Statements Of Cash Flows

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Consolidated Statements Of Cash Flows (USD $)
In Thousands
 12 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2009
Cash flows from operating activities:      
Net income (loss) $ 7,097 $ (623) $ (3,649)
Adjustments to reconcile net income (loss) to cash provided by operating activities:      
Depreciation and amortization 7,327 7,221 7,544
Allowance for cooperative allocated surplus 1,685    
Non-cash gains and losses (60) (663) (1,358)
Magnolia fund undistributed earnings (68) (549)  
Deferred income tax expense, net 563 (259) (1,288)
Deferred retirement benefits 178 269 458
Asset impairments   980 5,955
Stock based compensation 415 353 865
Changes in operating assets and liabilities:      
Accounts receivable 1,230 (2,627) 3,101
Inventories (3,772) 136 8,714
Accounts payable and accrued expenses 1,772 (1,087) (3,644)
Income taxes payable/receivable 373 4,922 113
Other 7 (960) (404)
Net cash provided by operating activities 16,747 7,113 16,407
Cash flows from investing activities:      
Purchases of property and equipment (12,265) (8,203) (6,705)
Proceeds from surrender of insurance policies   5,704 1,207
Proceeds from disposals of property and equipment 1,221 1,171 543
Purchases of investments (32) (12,149) (9,017)
Proceeds from the sales of investments 450 6,723 27,142
Return on investment in the Magnolia Fund 2,484    
Collection of mortgages and notes receivable 49 85 1,926
Real estate deposits and accrued commissions     (1,324)
Net cash (used for) provided by investing activities (8,093) (6,669) 13,772
Cash flows from financing activities:      
Treasury stock purchases (1,205) (628) (934)
Proceeds from notes payable   40,000 3,276
Principal payment of notes payable (1,281) (47,127) (8,706)
Borrowings on revolving line of credit 15,083 90,862 37,600
Repayments on revolving line of credit (30,104) (89,203) (91,000)
Loan origination fees   (1,202)  
Dividends paid (737) (1,014) (6,095)
Proceeds from share-based exchanges     104
Net cash used for financing activities (18,244) (8,312) (65,755)
Net decrease in cash and cash equivalents (9,590) (7,868) (35,576)
Cash and cash equivalents at beginning of year 10,926 18,794 54,370
Cash and cash equivalents at end of year 1,336 10,926 18,794
Supplemental disclosures of cash flow information:      
Cash paid for interest, net of amount capitalized 1,925 4,641 5,963
Cash paid for income taxes, including related interest 4,495   1,216
Non-cash investing activities:      
Reclassification of breeding herd to property and equipment   557 552
Reclassification of foreclosed mortgage to property and equipment   $ 5,950