Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
 12 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2012
Cash flows from operating activities:      
Net income $ 8,050 $ 19,646 $ 18,489
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 7,880 9,675 8,429
Non-cash gains and losses 202 (35) (288)
Magnolia fund undistributed earnings (163) (658) (59)
Deferred income tax (benefit) expense, net (845) 9,062 6,005
Deferred retirement benefits (173) 615 89
Gain on sale of property and equipment, net (4,369) (20,894) (8,800)
Asset impairments      1,918
Stock based compensation 1,256 923 458
Changes in operating assets and liabilities:      
Accounts receivable 419 (1,195) (143)
Inventories 9,474 (2,113) (4,917)
Accounts payable and accrued expenses 1,253 (3,727) 2,499
Income tax payable/receivable 3,401 2,014 (144)
Other 1,067 113 99
Net cash provided by operating activities 27,452 13,426 23,635
Cash flows from investing activities:      
Purchases of property and equipment (13,108) (18,924) (15,921)
Acquisition of Citrus business (16,517)      
Decrease (increase) in restricted cash   2,500 (2,500)
(Decrease) increase in real estate deposits   (2,500) 2,500
Proceeds from disposals of property and equipment 14,473 24,381 18,095
Return on investment in Magnolia 3,814 1,179 4,735
Proceeds from sales of investments      732
Collections of mortgages and notes receivable 10 35 37
Net cash provided by (used in) investing activities (11,328) 6,671 7,678
Cash flows from financing activities:      
Principal payments on notes payable (2,000) (3,900) (3,279)
Borrowings on revolving line of credit   5,661 127,319
Repayments on revolving line of credit   (5,661) (141,298)
Treasury stock purchases (4,844) (2,894) (298)
Capital lease payments (303)      
Dividends paid (2,781) (2,048) (1,765)
Net cash used in financing activities (9,928) (8,842) (19,321)
Net increase in cash and cash equivalents 6,196 11,255 11,992
Cash and cash equivalents at beginning of period 24,583 13,328 1,336
Cash and cash equivalents at end of period 30,779 24,583 13,328
Supplemental disclosure of cash flow information:      
Cash paid for interest, net of amount capitalized 954 1,048 1,685
Cash paid for income taxes 1,177 952 5,142
Supplemental disclosure of non-cash activities:      
Capital leases for purchase of equipment $ 1,400