EXHIBIT 11. Earnings per share
                 
                   
ALICO, INC.
Computation of Earnings per share
(in thousands except per share data)
                   
                   
   
For the three months ended
 
For the six months ended
 
   
Feb. 28,
 
Feb. 28,
 
Feb. 28,
 
Feb. 28,
 
   
2006
 
2005
 
2006
 
2005
 
Net income
 
$
2,667
 
$
(11
)
$
3,820
 
$
954
 
Weighted average shares outstanding
   
7,365
   
7,316
   
7,367
   
7,314
 
                           
Basic earnings per share
 
$
0.36
 
$
(0.00
)
$
0.52
 
$
0.13
 
                           
(Net income divided by shares outstanding)
                         
                           
Dilutive securities (options outstanding)
   
10
   
-
   
10
   
69
 
                           
Weighted average shares, diluted
   
7,375
   
7,316
   
7,377
   
7,383
 
                           
Fully diluted earnings per share
 
$
0.36
 
$
(0.00
)
$
0.52
 
$
0.13
 
                           
(Net income divided by diluted shares)