EXHIBIT 11
ALICO, INC.
Computation of Earnings per share
(in thousands except per share data)
                                 
    For the three months ended     For the six months ended  
    February 28,     February 28,  
    2007     2006     2007     2006  
Net income
  $ 7,704     $ 2,667     $ 6,733     $ 3,820  
Weighted average shares outstanding
    7,372       7,365       7,372       7,367  
 
                       
Basic earnings per share
  $ 1.05     $ 0.36     $ 0.91     $ 0.52  
 
                       
(Net income divided by shares outstanding)
                               
Dilutive securities (options outstanding)
    13       10       14       10  
Weighted average shares, diluted
    7,388       7,375       7,390       7,377  
 
                       
Fully diluted earnings per share
  $ 1.04     $ 0.36     $ 0.91     $ 0.52  
 
                       
(Net income divided by diluted shares)