EXHIBIT 11
ALICO, INC.
Computation of Earnings per share
(in thousands except per share data)
		For the three months				For the year
		ended August 31,				ended August 31,
		2004		2003		2004		2003
Net income		$2,680		$ 9,546		$ 17,813		$ 12,659
Weighted shares outstanding		7,288		7,111		7,219		7,106
Basic earnings per share		$ 0.37		$ 1.34		$ 2.47		$ 1.78
(Net income divided by shares outstanding)
Dilutive securities (options outstanding)		76		150		76		150
Weighted shares, diluted		7,364		7,261		7,295		7,256
Fully diluted Earnings per share		$ 0.36		$ 1.31		$ 2.44		$ 1.74
(Net income divided by dilutive shares)