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

9 Months Ended

Jun. 30, 2019

Basic earnings per share for Alico's common stock is calculated by dividing net income attributable to Alico 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 nine months ended June 30, 2019 and 2018, basic and diluted earnings per common share were as follows:



(in thousands except per share amounts)
	Three Months Ended June 30,				Nine Months Ended June 30,
	2019		2018		2019		2018

Net income attributable to Alico, Inc. common stockholders	$	16,244	$	9,100	$	21,324	$	12,332

Weighted average number of common shares outstanding - basic	7,470		8,228		7,470		8,243
Dilutive effect of equity-based awards	1		96		24		71
Weighted average number of common shares outstanding - diluted	7,471		8,324		7,494		8,314

Net income per common shares attributable to Alico, Inc. common stockholders:
Basic	$	2.17	$	1.11	$	2.85	$	1.50
Diluted	$	2.17	$	1.09	$	2.85	$	1.48

For the nine months ended June 30, 2019, equity awards are comprised of 227,500 stock options granted to Executive Officers, after taking into effect the forfeitures of 832,500 stock options (see Note 11. "Stockholders Equity"). There were no anti-dilutive equity awards that were excluded from the calculation of diluted earnings per common share for the three and nine months ended June 30, 2019.