Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Operating revenues:        
Total operating revenues $ 26,122 $ 57,565 $ 87,642 $ 120,865
Operating expenses:        
Total operating expenses 19,902 31,561 69,191 75,365
Gross profit 6,220 26,004 18,451 45,500
General and administrative expenses 2,556 2,682 8,269 10,786
Income from operations 3,664 23,322 10,182 34,714
Other (expense) income, net:        
Interest expense (1,603) (1,745) (4,599) (5,625)
Gain on sale of real estate, property and equipment and assets held for sale 154 114 3,017 137
Change in fair value of derivatives       (989)
Other (expense) income 44 8 (20) 18
Total other (expense) income, net (1,405) (1,623) (1,602) (6,459)
Income before income taxes 2,259 21,699 8,580 28,255
Income tax provision 171 5,483 2,028 7,082
Net income 2,088 16,216 6,552 21,173
Net loss (income) attributable to noncontrolling interests 8 28 (94) 151
Net income attributable to Alico, Inc. common stockholders $ 2,096 $ 16,244 $ 6,458 $ 21,324
Earnings per common share:        
Basic (in dollars per share) $ 0.28 $ 2.17 $ 0.86 $ 2.85
Diluted (in dollars per share) $ 0.28 $ 2.17 $ 0.86 $ 2.85
Weighted-average number of common shares outstanding:        
Basic 7,486 7,470 7,481 7,470
Diluted (in shares) 7,493 7,471 7,493 7,494
Cash dividends declared per common share $ 0.09 $ 0.06 $ 0.27 $ 0.18
Alico Citrus        
Operating revenues:        
Total operating revenues $ 25,360 $ 56,819 $ 85,336 $ 118,539
Operating expenses:        
Total operating expenses 19,508 31,141 67,866 73,597
Gross profit 5,852 25,678 17,470 44,942
Water Resources and Other Operations        
Operating revenues:        
Total operating revenues 762 746 2,306 2,326
Operating expenses:        
Total operating expenses 394 420 1,325 1,768
Gross profit $ 368 $ 326 $ 981 $ 558