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, unless otherwise specified
 12 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2010
Cash flows from operating activities:      
Net income (loss) $ 18,489 $ 7,097 $ (623)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 8,429 7,327 7,221
Allowance for cooperative allocated surplus    1,685   
Non-cash gains and losses (288) (60) (663)
Magnolia fund undistributed earnings (59) (68) (549)
Deferred income tax expense, net 6,005 563 (259)
Deferred retirement benefits 89 178 269
Gain on sale of property and equipment, net (8,800)      
Asset impairments 1,918    980
Stock based compensation 458 415 353
Changes in operating assets and liabilities:      
Accounts receivable (143) 1,230 (2,627)
Inventories (4,917) (3,772) 136
Accounts payable and accrued expenses 2,499 1,772 (1,087)
Income taxes payable/receivable (144) 373 4,922
Other 98 7 (960)
Net cash provided by operating activities 23,634 16,747 7,113
Cash flows from investing activities:      
Purchases of property and equipment (15,921) (12,265) (8,203)
Increase in restricted cash (2,500)      
Proceeds from surrender of insurance policies       5,704
Proceeds from disposals of property and equipment 18,095 1,221 1,171
Purchases of investments    (32) (12,149)
Proceeds from the sales of investments 732 450 6,723
Return on investment in the Magnolia Fund 4,735 2,484   
Collection of mortgages and notes receivable 37 49 85
Real estate deposits 2,500      
Net cash provided by (used for) investing activities 7,678 (8,093) (6,669)
Cash flows from financing activities:      
Treasury stock purchases (298) (1,205) (628)
Proceeds from notes payable       40,000
Principal payment of notes payable (3,279) (1,281) (47,127)
Borrowings on revolving line of credit 127,319 15,083 90,862
Repayments on revolving line of credit (141,298) (30,104) (89,203)
Loan origination fees       (1,202)
Dividends paid (1,764) (737) (1,014)
Net cash used for financing activities (19,320) (18,244) (8,312)
Net increase (decrease) in cash and cash equivalents 11,992 (9,590) (7,868)
Cash and cash equivalents at beginning of year 1,336 10,926 18,794
Cash and cash equivalents at end of year 13,328 1,336 10,926
Supplemental disclosures of cash flow information:      
Cash paid for interest, net of amount capitalized 1,685 1,925 4,641
Cash paid for income taxes, including related interest 5,142 4,495   
Non-cash investing activities:      
Reclassification of breeding herd to property and equipment       557
Reclassification of foreclosed mortgage to property and equipment       $ 5,950