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)