EXHIBIT 11
ALICO, INC.
Computation of Earnings per share
(in thousands except per share data)
                 
    For the three months ended  
    November 30,  
    2006     2005  
Net (loss) income
   $ (971 )   $ 1,153  
 
            
Weighted shares outstanding
     7,372       7,369  
 
            
Basic earnings per share
   $ (0.13 )   $ 0.16  
 
            
(Net income divided by shares outstanding)
                
Dilutive securities (options and restricted shares)
     —       16  
Weighted shares, diluted
     7,372       7,385  
 
            
Fully diluted Earnings per share
   $ (0.13 )   $ 0.16  
 
            
(Net income divided by dilutive shares)