ALICO INC
For the period ended May 6, 2024. Filed May 6, 2024.
View on SEC.govAbout this filing
A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
May 6, 2024 · Filed May 6, 2024
ALCO$37.09-0.3%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (in thousands)
(in thousands)
| Six Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Net cash used in operating activities: | ||
| Net income (loss) | $26,423 | $(11,317) |
| Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
| Depreciation, depletion and amortization | 7,602 | 7,847 |
| Amortization of debt issue costs | 149 | 71 |
| Gain on sale of property and equipment | (77,029) | (4,763) |
| Loss on disposal of long-lived assets | 938 | 4,032 |
| Inventory net realizable value adjustment | 28,549 | 1,616 |
| Deferred income tax provision | 470 | 52 |
| Stock-based compensation expense | 369 | 533 |
| Other | 68 | 18 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (8,661) | (8,646) |
| Inventories | (5,912) | 2,659 |
| Prepaid expenses | (13) | (10) |
| Income tax receivable | 1,200 | (1,739) |
| Other assets | 99 | 211 |
| Accounts payable and accrued liabilities | (1,647) | 2,681 |
| Income taxes payable | 8,021 | — |
| Other liabilities | (367) | (355) |
| Net cash used in operating activities | (19,741) | (7,110) |
| Cash flows from investing activities: | ||
| Purchases of property and equipment | (11,520) | (8,445) |
| Acquisition of citrus groves | — | (29) |
| Net proceeds from sale of property and equipment | 79,132 | 4,927 |
| Notes receivable | — | (570) |
| Change in deposits on purchase of citrus trees | (375) | 6 |
| Net cash provided by (used in) investing activities | 67,237 | (4,111) |
| Cash flows from financing activities: | ||
| Repayments on revolving lines of credit | (44,032) | (24,995) |
| Borrowings on revolving lines of credit | 19,310 | 41,189 |
| Principal payments on term loans | (19,737) | (1,517) |
| Dividends paid | (763) | (4,173) |
| Net cash (used in) provided by financing activities | (45,222) | 10,504 |
| Net increase (decrease) in cash and restricted cash | 2,274 | (717) |
| Cash and cash equivalents and restricted cash at beginning of the period | 3,692 | 865 |
| Cash and cash equivalents and restricted cash at end of the period | $5,966 | $148 |
| Non-cash investing activities: | ||
| Assets received in exchange for services | $85 | $— |
| Trees delivered in exchange for prior tree deposits | $282 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.