Annual report pursuant to section 13 and 15(d)

Selected Quarterly Financial Data (unaudited)

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Selected Quarterly Financial Data (unaudited)
 12 Months Ended
Sep. 30, 2013
Selected Quarterly Financial Data (unaudited) [Abstract]  
Selected Quarterly Financial Data (unaudited)

Note 17. Selected Quarterly Financial Data (unaudited)

 

Summarized quarterly financial data (in thousands except for per share amounts) for the fiscal years ended September 30, 2013 and 2012 were as follows:

(in thousands) Fiscal Quarter Ended
  December 31,   March 31,   June 30,   September 30,
  2012   2011   2013   2012   2013   2012   2013   2012
                               
 Total operating revenue $ 21,356     $ 26,047     $ 38,410     $ 54,097     $ 35,229     $ 40,401     $ 6,666     $ 6,642  
 Total operating expenses   17,570       20,533       31,396       39,859       26,164       29,892       4,857       4,671  
                                                               
 Gross profit   3,786       5,514       7,014       14,238       9,065       10,509       1,809       1,971  
 Corporate, general and                                                              
 administrative   1,808       1,990       2,464       1,807       2,253       1,871       3,214       2,822  
 Other (expense) income   (304 )     (360 )     23       (502 )     (167 )     6,888       20,188       (306 )
                                                               
 Income (loss) before income taxes   1,674       3,164       4,573       11,929       6,645       15,526       18,783       (1,157 )
 Income tax expense (benefit)   636       1,231       1,800       4,515       2,566       5,919       7,027       (692 )
                                                               
 Net (loss) income $ 1,038     $ 1,933     $ 2,773     $ 7,414     $ 4,079     $ 9,607     $ 11,756     $ (465 )
                                                               
 Earnings per share:                                                              
 Basic $ 0.14     $ 0.26     $ 0.38     $ 1.01     $ 0.56     $ 1.31     $ 1.61     $ (0.07 )
 Diluted $ 0.14     $ 0.26     $ 0.38     $ 1.01     $ 0.55     $ 1.31     $ 1.60     $ (0.07 )

 

 

During the fiscal year 2012, the Company recorded a gain on the sale of the Polk County, Florida properties totaling $9,113,000 and an impairment charge of $1,918,000. Impairment was recorded on assets held for sale on the Consolidated Balance Sheet as of September 30, 2012, which were subsequently sold on October 3, 2012. See Note 7. Property, Buildings and Equipment, Net.

 

During fiscal year 2013, the Company recorded a gain on the sale of a Conservation Easement on 11,600 acres of property in Hendry County totaling $20,343,000.