v3.19.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Operating revenues:        
Total operating revenues $ 57,565 $ 26,517 $ 120,865 $ 79,650
Operating expenses:        
Total operating expenses 31,561 14,603 75,365 59,321
Gross profit 26,004 11,914 45,500 20,329
General and administrative expenses 2,682 2,955 10,786 9,914
Income from operations 23,322 8,959 34,714 10,415
Other (expense) income:        
Interest expense (1,745) (2,188) (5,625) (6,682)
Gain on sale of real estate, property and equipment and assets held for sale 114 7,248 137 9,083
Change in fair value of derivatives 0 0 (989) 0
Other income, net 8 14 18 158
Total other (expense), income (1,623) 5,074 (6,459) 2,559
Income before income taxes 21,699 14,033 28,255 12,974
Income tax provision 5,483 4,941 7,082 674
Net income 16,216 9,092 21,173 12,300
Net loss attributable to noncontrolling interests 28 8 151 32
Net income attributable to Alico, Inc. common stockholders $ 16,244 $ 9,100 $ 21,324 $ 12,332
Earnings per common share:        
Basic (in dollars per share) $ 2.17 $ 1.11 $ 2.85 $ 1.50
Diluted (in dollars per share) $ 2.17 $ 1.09 $ 2.85 $ 1.48
Weighted-average number of common shares outstanding:        
Basic (in shares) 7,470 8,228 7,470 8,243
Diluted (in shares) 7,471 8,324 7,494 8,314
Cash dividends declared per common share (in dollars per share) $ 0.06 $ 0.06 $ 0.18 $ 0.18
Alico Citrus        
Operating revenues:        
Total operating revenues $ 56,819 $ 25,711 $ 118,539 $ 77,499
Operating expenses:        
Total operating expenses 31,141 13,697 73,597 56,102
Gross profit 25,678 12,014 44,942 21,397
Water Resources and Other Operations        
Operating revenues:        
Total operating revenues 746 806 2,326 2,151
Operating expenses:        
Total operating expenses 420 906 1,768 3,219
Gross profit $ 326 $ (100) $ 558 $ (1,068)

Source