Annual report pursuant to Section 13 and 15(d)

Common Control Acquisition

v3.5.0.2
Common Control Acquisition
 12 Months Ended
Sep. 30, 2016
Business Combinations [Abstract]  
Common Control Acquisition
Common Control Acquisition

The Company completed the Merger with Silver Nip Citrus on February 28, 2015 (see Note 1. “Description of Business and Basis of Presentation”). Silver Nip Citrus owns approximately 7,400 acres of land, consisting primarily of citrus groves, in seven Florida counties (Polk, Hardee, Osceola, Martin, Highlands, Charlotte 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, the results of operations have been combined for the Company and Silver Nip Citrus from the date common control began, November 19, 2013.

Separate results for the Company and Silver Nip Citrus for the fiscal years ended September 30, 2015 and 2014 were as follows:

(in thousands except per share amounts)
 
 
 
 
 
 
 
 
 
 
 
Fiscal Year Ended
 
Fiscal Year Ended
 
September 30, 2015
 
September 30, 2014
 
 
 
Silver Nip
 
 
 
 
 
Silver Nip
 
 
 
Alico
 
Citrus
 
Total
 
Alico
 
Citrus
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
Operating revenue
$
131,722

 
$
21,404

 
$
153,126

 
$
88,680

 
$
15,323

 
$
104,003

Gross profit
$
31,212

 
$
4,787

 
$
35,999

 
$
18,297

 
$
2,897

 
$
21,194

Income from operations
$
15,654

 
$
3,851

 
$
19,505

 
$
7,856

 
$
1,527

 
$
9,383

Net income
$
9,791

 
$
3,392

 
$
13,183

 
$
8,050

 
$
1,445

 
$
9,495

 
 
 
 
 
 
 
 
 
 
 
 
Earnings per common share:
 
 
 
 
 
 
 
 
 
 
 
Basic
$
1.20

 
$
0.42

 
$
1.64

 
$
1.10

 
$
0.20

 
$
1.29

Diluted
$
1.22

 
$
0.42

 
$
1.64

 
$
1.10

 
$
0.20

 
$
1.29