Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (unaudited)

v3.21.2
Selected Quarterly Financial Data (unaudited)
12 Months Ended
Sep. 30, 2021
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (unaudited)

Note 17. Selected Quarterly Financial Data (unaudited)

Summarized quarterly financial data for the fiscal years ended September 30, 2021, and 2020 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,

 

 

 

2020

 

 

2019

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Total operating revenues

 

$

13,732

 

 

$

11,005

 

 

$

55,944

 

 

$

50,515

 

 

$

34,888

 

 

$

26,122

 

 

$

4,000

 

 

$

4,865

 

Total operating expenses

 

 

8,335

 

 

 

5,391

 

 

 

45,718

 

 

 

43,898

 

 

 

26,378

 

 

 

19,902

 

 

 

4,240

 

 

 

5,397

 

Gross profit (loss)

 

 

5,397

 

 

 

5,614

 

 

 

10,226

 

 

 

6,617

 

 

 

8,510

 

 

 

6,220

 

 

 

(240

)

 

 

(532

)

General and administrative expenses

 

 

2,528

 

 

 

2,760

 

 

 

2,653

 

 

 

2,953

 

 

 

1,911

 

 

 

2,556

 

 

 

2,361

 

 

 

2,729

 

Other income (expense), net

 

 

2,185

 

 

 

(1,595

)

 

 

(1,104

)

 

 

1,398

 

 

 

29,387

 

 

 

(1,405

)

 

 

1,479

 

 

 

26,058

 

Income (loss) before income taxes

 

 

5,054

 

 

 

1,259

 

 

 

6,469

 

 

 

5,062

 

 

 

35,986

 

 

 

2,259

 

 

 

(1,122

)

 

 

22,797

 

Income tax (benefit) expense

 

 

1,250

 

 

 

361

 

 

 

1,579

 

 

 

1,496

 

 

 

8,853

 

 

 

171

 

 

 

(115

)

 

 

5,635

 

Net income (loss)

 

 

3,804

 

 

 

898

 

 

 

4,890

 

 

 

3,566

 

 

 

27,133

 

 

 

2,088

 

 

 

(1,007

)

 

 

17,162

 

Net loss (income) attributable to noncontrolling interests

 

 

41

 

 

 

(107

)

 

 

(23

)

 

 

5

 

 

 

(14

)

 

 

8

 

 

 

35

 

 

 

42

 

Net income (loss) attributable to Alico Inc. common stockholders

 

$

3,845

 

 

$

791

 

 

$

4,867

 

 

$

3,571

 

 

$

27,119

 

 

$

2,096

 

 

$

(972

)

 

$

17,204

 

Earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.51

 

 

$

0.11

 

 

$

0.65

 

 

$

0.48

 

 

$

3.61

 

 

$

0.28

 

 

$

(0.13

)

 

$

2.29

 

Diluted

 

$

0.51

 

 

$

0.11

 

 

$

0.65

 

 

$

0.48

 

 

$

3.61

 

 

$

0.28

 

 

$

(0.13

)

 

$

2.29

 

 

Operating revenues and operating expenses for the fiscal quarter ended September 30, 2020 include approximately $3,246,000 and approximately $2,951,000, respectively, relating to the grove management services being provided to a third-party. Other income for the fiscal quarter ended September 30, 2020 includes a gain on sale of assets of approximately $27,470,000 (see Note 4. “Assets Held for Sale” and Note 5. “Property and Equipment, Net” for further information). Operating revenues and operating expenses for the fiscal quarter ended December 31, 2020 include approximately $2,869,000 and approximately $2,631,000, respectively, relating to the grove management services being provided to a third-party. Operating revenues and operating expenses for the fiscal quarter ended March 31, 2021 include approximately $4,685,000 and approximately $4,150,000, respectively, relating to the grove management services being provided to a third-party. Operating revenues and operating expenses for the fiscal quarter ended June 30, 2021 include approximately $5,114,000 and approximately $4,545,000, respectively, relating to the grove management services being provided to a third-party. Other income for the fiscal quarter ended June 30, 2021 includes a gain on sale of assets of approximately $30,288,000 (see Note 4. “Assets Held for Sale” and Note 5. “Property and Equipment, Net” for further information). General and administrative expenses for the fiscal quarter ended June 30, 2021 include the receipt of insurance proceeds for the reimbursement of legal fees in the amount of approximately $658,000 relating to corporate legal matters. Operating revenues and operating expenses for the fiscal quarter ended September 30, 2021 include approximately $3,083,000 and approximately $3,015,000, respectively, relating to the grove management services being provided to a third-party.