Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (unaudited)

v3.19.3
Selected Quarterly Financial Data (unaudited)
 12 Months Ended
Sep. 30, 2019
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (unaudited) Selected Quarterly Financial Data (unaudited)

Summarized quarterly financial data for the fiscal years ended September 30, 2019, and 2018 are computed independently each quarter, therefore, the sum of the quarter amounts may not equal the total amount for the respective year due to rounding as follows:

(in thousands, except per share amounts)
Fiscal Quarter Ended
 
December 31,
 
March 31,
 
June 30,
 
September 30,
 
2018
2017
 
2019
2018
 
2019
2018
 
2019
2018
 
 
 
 
 
 
 
 
 
 
 
 
Total operating revenues
$
14,779

$
17,533

 
$
48,521

$
35,600

 
$
57,565

$
26,517

 
$
1,386

$
1,631

Total operating expenses
11,597

16,951

 
32,207

27,767

 
31,561

14,603

 
(13,474
)
(3,633
)
 
 
 
 
 
 
 
 
 
 
 
 
Gross profit
3,182

582

 
16,314

7,833

 
26,004

11,914

 
14,860

5,264

 
 
 
 
 
 
 
 
 
 
 
 
General and administrative expenses
3,450

3,886

 
4,654

3,073

 
2,682

2,955

 
4,360

5,144

Other (expense) income, net
(2,864
)
(375
)
 
(1,972
)
(2,140
)
 
(1,623
)
5,074

 
11,478

96

 
 
 
 
 
 
 
 
 
 
 
 
Income (loss) before income taxes
(3,132
)
(3,679
)
 
9,688

2,620

 
21,699

14,033

 
21,978

216

Income tax (benefit) expense
(629
)
(12,417
)
 
2,228

8,150

 
5,483

4,941

 
5,701

(284
)
 
 
 
 
 
 
 
 
 
 
 
 
Net (loss) income
(2,503
)
8,738

 
7,460

(5,530
)
 
16,216

9,092

 
16,277

500

 
 
 
 
 
 
 
 
 
 
 
 
Net loss attributable to noncontrolling interests
36

8

 
87

16

 
28

8

 
232

218

 
 
 
 
 
 
 
 
 
 
 
 
Net income (loss) attributable to Alico Inc. common stockholders
$
(2,467
)
$
8,746

 
$
7,547

$
(5,514
)
 
$
16,244

$
9,100

 
$
16,509

$
718

 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share:
 

 

 
 

 

 
 

 

 
 

 

Basic
$
(0.33
)
$
1.06

 
$
1.01

$
(0.67
)
 
$
2.17

$
1.11

 
$
2.21

$
0.09

Diluted
$
(0.33
)
$
1.05

 
$
1.01

$
(0.67
)
 
$
2.17

$
1.09

 
$
2.21

$
0.09



Total operating expenses for the fiscal quarter ended June 30, 2018 include insurance proceeds relating to Hurricane Irma of $477,000 for property and casualty damage claims and $3,726,000 for crop claims. Total operating expenses for the fiscal quarter ended September 30, 2018 included insurance proceeds relating to the Hurricane Irma of $5,226,000 for crop damage claims. Total operating expenses for the fiscal quarter ended September 30, 2019 includes insurance proceeds received of approximately $486,000 in additional property and casualty claims reimbursement relating to Hurricane Irma and block grants of approximately $15,597,000 under the Florida Citrus Recovery Block Grant (“CRBG”) program relating to Hurricane Irma. General and administrative expenses for the fiscal quarter ended September 30, 2019 include pension expense of $935,000 relating to termination of employee benefit plan (see Note 14. “Employee Benefit Plans” for further detail). Other income for the fiscal quarter ended September 30, 2019 includes a gain on sale of assets of approximately $13,166,000 (see Note 3. “Inventories”, Note 4. “Assets Held For Sale” and Note 5. “Property and Equipment, Net” for further information).