Alico, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Common Share

Earnings Per Common Share

6 Months Ended

Mar. 31, 2017

Basic earnings per share for Alico's common stock is calculated by dividing net income attributable to Alico, Inc. common stockholders by the weighted average number of shares of common stock outstanding for the period. Diluted earnings per common share is similarly calculated, except that the calculation includes the dilutive effect of the assumed issuance of common shares issuable under equity-based compensation plans in accordance with the treasury stock method, except where the inclusion of such common shares would have an anti-dilutive impact.

For the three and six months ended March 31, 2017 and 2016, basic and diluted earnings per common share were as follows:



(in thousands except per share amounts)
	Three Months Ended March 31,				Six Months Ended March 31,
	2017		2016		2017		2016

Net income attributable to Alico, Inc. common stockholders	$	5,833	$	8,734	$	4,098	$	5,722

Weighted average number of common shares outstanding - basic	8,327		8,286		8,326		8,294
Dilutive effect of equity-based awards	—		17		—		15
Weighted average number of common shares outstanding - diluted	8,327		8,303		8,326		8,309

Net income per common share attributable to Alico, Inc. common stockholders:
Basic	$	0.70	$	1.05	$	0.49	$	0.69
Diluted	$	0.70	$	1.05	$	0.49	$	0.69

The computation of diluted earnings per common share for the three and six months ended March 31, 2017 and 2016 excludes the impact of certain equity awards because they are anti-dilutive. Such awards are comprised of 750,000 stock options granted to Executive Officers (see Note 7. "Stockholders' Equity") during the six months ended March 31, 2017 and 12,500 shares awarded to the Chief Executive Officer and Chief Financial Officer during the fiscal year ended September 30, 2015.