Annual report pursuant to section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Sep. 30, 2012
Sep. 30, 2011
Current assets:    
Cash and cash equivalents $ 13,328 $ 1,336
Restricted cash 2,500   
Investments 257 989
Accounts receivable, net of an allowance for doubtful accounts $13 in 2012 and $103 in 2011, respectively 3,071 2,928
Income taxes receivable 1,327 699
Inventories 27,290 22,373
Assets held for sale 2,475   
Other current assets 1,219 856
Total current assets 51,467 29,181
Mortgages and notes receivable, net of current portion 42 75
Investment in Magnolia Fund 5,607 10,283
Investments, deposits and other non-current assets 2,103 2,220
Deferred income taxes 2,168 8,672
Cash surrender value of life insurance 862 824
Property, buildings and equipment, net 122,834 128,780
Total assets 185,083 180,035
Current liabilities:    
Accounts payable 4,929 2,946
Long-term debt, current portion 3,267 3,279
Accrued expenses 2,488 1,719
Income taxes payable 484   
Dividend payable 883 882
Accrued ad valorem taxes 1,685 1,938
Other current liabilities 3,412 1,063
Total current liabilities 17,148 11,827
Long-term debt, net of current portion 36,633 53,879
Deferred retirement benefits, net of current portion 3,756 3,667
Total liabilities 57,537 69,373
Commitments and contingencies      
Stockholders' equity:    
Preferred stock, no par value. Authorized 1,000,000 shares; issued and outstanding, none.      
Common stock, $1 par value. Authorized 15,000,000 shares; 7,377,106 shares issued and 7,353,871 and 7,342,513 shares outstanding at September 30, 2012 and 2011, respectively 7,377 7,377
Additional paid in capital 9,053 9,212
Treasury stock at cost, 23,235 and 34,593 shares held at September 30, 2012 and 2011, respectively (543) (862)
Retained earnings 111,659 94,935
Total stockholders' equity 127,546 110,662
Total liabilities and stockholders' equity $ 185,083 $ 180,035