Annual report pursuant to Section 13 and 15(d)

Selected Quarterly Financial Data (unaudited)

v3.20.2
Selected Quarterly Financial Data (unaudited)
12 Months Ended
Sep. 30, 2020
Quarterly Financial Information Disclosure [Abstract]  
Selected Quarterly Financial Data (unaudited)

Note 16. Selected Quarterly Financial Data (unaudited)

Summarized quarterly financial data for the fiscal years ended September 30, 2020, and 2019 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,

 

 

 

2019

 

 

2018

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Total operating revenues

 

$

11,005

 

 

$

14,779

 

 

$

50,515

 

 

$

48,521

 

 

$

26,122

 

 

$

57,565

 

 

$

4,865

 

 

$

1,386

 

Total operating expenses

 

 

5,391

 

 

 

11,597

 

 

 

43,898

 

 

 

32,207

 

 

 

19,902

 

 

 

31,561

 

 

 

5,397

 

 

 

(13,474

)

Gross profit (loss)

 

 

5,614

 

 

 

3,182

 

 

 

6,617

 

 

 

16,314

 

 

 

6,220

 

 

 

26,004

 

 

 

(532

)

 

 

14,860

 

General and administrative expenses

 

 

2,760

 

 

 

3,450

 

 

 

2,953

 

 

 

4,654

 

 

 

2,556

 

 

 

2,682

 

 

 

2,729

 

 

 

4,360

 

Other (expense) income, net

 

 

(1,595

)

 

 

(2,864

)

 

 

1,398

 

 

 

(1,972

)

 

 

(1,405

)

 

 

(1,623

)

 

 

26,058

 

 

 

11,478

 

Income (loss) before income taxes

 

 

1,259

 

 

 

(3,132

)

 

 

5,062

 

 

 

9,688

 

 

 

2,259

 

 

 

21,699

 

 

 

22,797

 

 

 

21,978

 

Income tax (benefit) expense

 

 

361

 

 

 

(629

)

 

 

1,496

 

 

 

2,228

 

 

 

171

 

 

 

5,483

 

 

 

5,635

 

 

 

5,701

 

Net (loss) income

 

 

898

 

 

 

(2,503

)

 

 

3,566

 

 

 

7,460

 

 

 

2,088

 

 

 

16,216

 

 

 

17,162

 

 

 

16,277

 

Net (income) loss attributable to noncontrolling interests

 

 

(107

)

 

 

36

 

 

 

5

 

 

 

87

 

 

 

8

 

 

 

28

 

 

 

42

 

 

 

232

 

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

 

$

791

 

 

$

(2,467

)

 

$

3,571

 

 

$

7,547

 

 

$

2,096

 

 

$

16,244

 

 

$

17,204

 

 

$

16,509

 

Earnings (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.11

 

 

$

(0.33

)

 

$

0.48

 

 

$

1.01

 

 

$

0.28

 

 

$

2.17

 

 

$

2.29

 

 

$

2.21

 

Diluted

 

$

0.11

 

 

$

(0.33

)

 

$

0.48

 

 

$

1.01

 

 

$

0.28

 

 

$

2.17

 

 

$

2.29

 

 

$

2.21

 

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 (see Note 3. “Inventories”) 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 13. “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 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 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).