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, 2020

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, 2020 and 2019, 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,
	2020		2019		2020		2019

Net income attributable to Alico, Inc. common stockholders	$	3,571	$	7,547	$	4,362	$	5,080

Weighted average number of common shares outstanding - basic	7,480		7,463		7,478		7,471
Dilutive effect of equity-based awards	16		6		16		35
Weighted average number of common shares outstanding - diluted	7,496		7,469		7,494		7,506

Net income per common shares attributable to Alico, Inc. common stockholders:
Basic	$	0.48	$	1.01	$	0.58	$	0.68
Diluted	$	0.48	$	1.01	$	0.58	$	0.68

For the three and six months ended March 31, 2020 there were anti-dilutive equity awards excluded from the calculation of diluted earnings per common share.

For the three and six months ended March 31, 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").