v3.20.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2020
Mar. 31, 2019
Sep. 30, 2019
Net cash provided by operating activities:            
Net income   $ 3,566 $ 7,460 $ 4,464 $ 4,957  
Adjustments to reconcile net income to net cash provided by operating activities:            
Depreciation, depletion and amortization   3,590 3,493 7,199 6,951  
Deferred income tax (benefit) expense       (827) 73  
Gain on sale of real estate, property and equipment and assets held for sale       (2,863) (23)  
Change in fair value of derivatives   0 33 0 989  
Impairment of long-lived assets       723 0  
Impairment of right-of-use asset   0   87    
Stock-based compensation expense       790 223  
Other       (36) (51)  
Changes in operating assets and liabilities:            
Accounts receivable       (3,672) (11,453)  
Inventories       11,640 4,922  
Prepaid expenses       (234) 92  
Other assets       (387) 0  
Accounts payable and accrued liabilities       (2,061) 370  
Income tax payable       (2,876) (852)  
Other liabilities       (259) (130)  
Net cash provided by operating activities       11,688 6,068  
Cash flows from investing activities:            
Purchases of property and equipment       (9,960) (9,524)  
Net proceeds from sale of property and equipment and assets held for sale $ 2,952     2,994 202  
Change in deposits on purchase of citrus trees       (57) (515)  
Deposit on purchase of citrus grove       (25) 0  
Advances on notes receivables, net       87 50  
Net cash used in investing activities       (6,961) (9,787)  
Cash flows from financing activities:            
Repayments on revolving lines of credit       (18,805) (41,360)  
Borrowings on revolving lines of credit 70,000     85,519 63,637  
Principal payments on term loans       (9,820) (5,437)  
Treasury stock purchases       (238) (25,576)  
Payment on termination of sugarcane agreement       0 (11,300)  
Dividends paid       (1,120) (895)  
Deferred financing costs       (23) 0  
Net cash provided by (used in) financing activities       55,513 (20,931)  
Net increase (decrease) in cash and cash equivalents and restricted cash       60,240 (24,650)  
Cash and cash equivalents and restricted cash at beginning of the period       23,838 32,260 $ 32,260
Cash and cash equivalents and restricted cash at end of the period $ 84,078 $ 84,078 $ 7,610 $ 84,078 $ 7,610 $ 23,838

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