EXHIBIT 11
ALICO, INC.
Computation of Earnings per share
(in thousands except per share data)
                                 
    For the three months ended     For the nine months ended  
    June 30,     June 30,  
    2008     2007     2008     2007  
Net income (loss)
  $ 4,983     $ (19,021 )   $ 9,311     $ (10,938 )
Weighted average shares outstanding
    7,364       7,367       7,364       7,370  
 
                       
 
                               
Basic earnings (loss) per share
  $ 0.68     $ (2.58 )   $ 1.26     $ (1.48 )
 
                       
 
                               
(Net income divided by shares outstanding)
                               
 
                               
Dilutive securities (options outstanding)
                               
 
                               
Weighted average shares, diluted
    7,389       7,387       7,383       7,390  
 
                       
 
                               
Fully diluted earnings (loss) per share
  $ 0.67     $ (2.57 )   $ 1.26     $ (1.48 )
 
                       
(Net income divided by diluted shares)