Quarterly report pursuant to Section 13 or 15(d)

Common Control Acquisition

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Common Control Acquisition
 9 Months Ended
Jun. 30, 2015
Common Control Acquisition [Abstract]  
Common Control Acquisition

Note 5. Common Control Acquisition

The Company completed the Merger with Silver Nip Citrus on February 28, 2015 (see “Note 1” to the accompanying Condensed Combined Consolidated Financial Statements). Silver Nip Citrus owns approximately 7,434 acres of land, consisting primarily of citrus groves, in six Florida counties (Polk, Hardee, Osceola, Martin, Highlands and Collier). Substantially all of its revenues derive from citrus operations. As the Company and Silver Nip Citrus were under common control at the time of the Merger, we have combined the operating results of the Company and Silver Nip Citrus from the date common control began.

The Company's results of operations for the three and nine months ended June 30, 2015 include the Silver Nip Citrus results of operations for the three and nine months ended March 31, 2015. The Company's results of operations for the three and nine months ended June 30, 2014 include the Silver Nip Citrus results of operations from November 19, 2013 (the initial date of common control) through March 31, 2014.

Separate results for the Company and Silver Nip Citrus for the three and nine months ended June 30, 2015 and 2014 were as follows :

 

(in thousands except for per share amounts) Three Months Ended June 30, 2015 Three Months Ended June 30, 2014
    Silver Nip                       Silver Nip          
Alico     Citrus       Total       Alico       Citrus       Total  
                                       
Operating revenues   $ 61,007     $ 7,802     $ 68,809     $ 28,675     $ 5,200     $ 33,875  
                                                 
Gross profit   $ 18,090     $ 1,725     $ 19,815     $ 3,739     $ 854     $ 4,593  
                                                 
Net income   $ 6,727     $ 1,040     $ 7,767     $ 1,119     $ (88 )   $ 1,031  
                                                 
Comprehensive income   $ 6,727     $ 1,040     $ 7,767     $ 1,119     $ (88 )   $ 1,031  
                                                 
Earnings per common share:                                                
Basic   $ 0.81     $ 0.13     $ 0.94     $ 0.15     $ (0.01 )   $ 0.14  
Diluted   $ 0.81     $ 0.13     $ 0.94     $ 0.15     $ (0.01 )   $ 0.14  

 

 

(in thousands except for per share amounts) Nine Months Ended June 30, 2015 Nine Months Ended June 30, 2014
    Silver Nip                       Silver Nip          
Alico     Citrus       Total       Alico       Citrus       Total  
                                       
Operating revenues   $ 129,375     $ 10,734     $ 140,109     $ 81,139     $ 8,367     $ 89,506  
                                                 
Gross profit   $ 31,185     $ 1,805     $ 32,990     $ 15,593     $ 1,770     $ 17,363  
                                                 
Net income   $ 15,866     $ 2,426     $ 18,292     $ 4,485     $ 538     $ 5,023  
                                                 
Comprehensive income   $ 15,866     $ 2,426     $ 18,292     $ 4,485     $ 538     $ 5,023  
                                                 
Earnings per common share:                                                
Basic   $ 1.99     $ 0.30     $ 2.30     $ 0.61     $ 0.07     $ 0.69  
Diluted   $ 1.99     $ 0.30     $ 2.29     $ 0.61     $ 0.07     $ 0.68