Quarterly report pursuant to Section 13 or 15(d)

Orange-Co Acquisition (Tables)

v2.4.1.9
Orange-Co Acquisition (Tables)
 6 Months Ended
Mar. 31, 2015
Orange-Co Acquisition [Abstract]  
Schedule of Assets Acquired
Asset acquisition
      
       
(in thousands) Amount
   
Assets
Accounts receivable $ 888  
Other current assets    845  
Inventories    35,562  
Property, Buildings and Equipment:     
Equipment and other facilities    13,432  
Land    63,337  
Citrus trees    164,053  
Goodwill   1,146  
Other assets    2,344  
     
Total assets, net of cash acquired  $ 281,607
     
Liabilities     
Accounts payable and accrued liabilities  $ 4,087  
Term loan 500
Payable to seller    7,500  
     
Total liabilities assumed  $ 12,087
     
Assets acquired less liabilities assumed  $ 269,520
 
Less: fair value attributable to noncontrolling interest  (4,933 )
 
Total purchase consideration  $ 264,587  

 

Cash proceeds from sugarcane disposition $ 97,126  
Working capital line of credit   27,775  
Term loans   139,686  
   
Total purchase consideration  $ 264,587
Schedule of Pro-Forma Information
Three Months Ended March 31,

Six Months Ended March 31,
(in thousands except per share amount)   2015    2014
  2015 2014
 
Revenues $ 55,122   $ 66,326

$ 71,828   $ 89,856  
Income from operations $ 6,698   $ 17,073
  $ 3,865   $ 17,641  
Net income attributable to common shareholder $ 2,794   $ 9,902
  $ 10,065   $ 9,435
Basic earnings per common share $ 0.34   $ 1.35
  $ 1.29   $ 1.29
Diluted earnings per common share $ 0.34   $ 1.35
  $ 1.29   $ 1.28