Annual report pursuant to section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Per Share data, unless otherwise specified
12 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2010
Operating revenues:      
Citrus Groves $ 55,423 $ 47,088 $ 36,469
Agricultural Supply Chain Management 48,334 36,115 28,896
Improved Farmland 15,316 8,642 4,992
Ranch and Conservation 7,348 6,015 5,332
Other Operations 766 732 4,103
Total operating revenues 127,187 98,592 79,792
Operating expenses:      
Citrus Groves 30,995 27,764 25,730
Agricultural Supply Chain Management 47,693 35,109 28,169
Improved Farmland 11,574 7,343 4,133
Ranch and Conservation 3,497 3,640 4,322
Other Operations 1,196 1,303 7,515
Total operating expenses 94,955 75,159 69,869
Gross profit 32,232 23,433 9,923
Corporate general and administrative 8,490 8,196 6,458
Income from operations 23,742 15,237 3,465
Other (expenses) income:      
Interest and investment income (loss), net 97 (1,375) 919
Interest expense (1,616) [1] (2,020) [1] (6,879) [1]
Other income, net 44 685 671
Gain on sale of real estate 9,113      
Impairment on assets held for sale (1,918)      
Total other income (expenses), net 5,720 (2,710) (5,289)
Income (loss) before income tax expense (benefit) 29,462 12,527 (1,824)
Income tax expense (benefit) 10,973 5,430 (1,201)
Net income (loss) $ 18,489 $ 7,097 $ (623)
Weighted-average number of shares outstanding      
Basic 7,355 7,363 7,374
Diluted 7,355 7,363 7,374
Earnings (loss) per common share      
Basic $ 2.51 $ 0.96 $ (0.08)
Diluted $ 2.51 $ 0.96 $ (0.08)
Cash dividends declared per common share $ 0.24 $ 0.12 $ 0.1
[1] Interest expense for the year ended September 30, 2010 includes a prepayment penalty of $3,094,000 and $305,000 of loan fees.