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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">Limoneira Company, a Delaware corporation (the “Company”), engages primarily in growing citrus and avocados, picking and hauling citrus, and packing, marketing and selling lemons. The Company is also engaged in residential rentals and other rental operations and real estate development activities.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 0.5in; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The Company markets and sells lemons directly to foodservice, wholesale and retail customers throughout the United States, Canada, Asia and other international markets. The Company is a member of Sunkist Growers, Inc. (“Sunkist”), an agricultural marketing cooperative, and sells its oranges, specialty citrus and other crops to Sunkist-licensed and other third-party packinghouses.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 0.5in; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The Company sells all of its avocado production to Calavo Growers, Inc. (“Calavo”), a packing and marketing company listed on the NASDAQ Global Select Market under the symbol CVGW. Calavo's customers include many of the largest retail and food service companies in the United States and Canada. The Company's avocados are packed by Calavo, sold and distributed under Calavo brands to its customers.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The unaudited interim consolidated financial statements include the accounts of the Company and the accounts of all the subsidiaries and investments in which a controlling interest is held by the Company. The unaudited interim consolidated financial statements represent the consolidated balance sheets, consolidated statements of operations, consolidated statements of comprehensive income and consolidated statements of cash flows of the Company and its wholly-owned subsidiaries. The Company's subsidiaries include: Limoneira International Division, LLC, Limoneira Mercantile, LLC, Windfall Investors, LLC, Templeton Santa Barbara, LLC, and Associated Citrus Packers, Inc. All significant intercompany balances and transactions have been eliminated in consolidation. The Company considers the criteria established under the Financial Accounting Standards Board – Accounting Standards Code (“FASB ASC”) 810, <i>Consolidations</i> and the effect of variable interest entities, in its consolidation process. These unaudited consolidated financial statements should be read in conjunction with the notes thereto included in this quarterly report.</font></p>
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<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong></p>
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<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong></p>
</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 80%; text-align: left; background-color: #cceeff;">East Areas 1 and 2</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; width: 10%; text-align: right; vertical-align: bottom; background-color: #cceeff;"><font>57,098,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; width: 10%; text-align: right; vertical-align: bottom; background-color: #cceeff;"><font>55,016,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Templeton Santa Barbara, LLC</td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>11,039,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>11,039,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;">Windfall Investors, LLC</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>22,755,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>22,033,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>90,892,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>88,088,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
</table>
</div>
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="width: 100%;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>2. Summary of Significant Accounting Policies</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><br/></p>
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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><b><font style="font-size: 10pt; color: black;">Reclassifications and Adjustments</font></b><font style="font-size: 10pt;"></font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">Certain reclassifications have been made to the prior years' consolidated financial statements to conform to the April 30, 2015 presentation.</font></p>
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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><i><font style="font-size: 10pt;">Immaterial Classification Error</font></i><font style="font-size: 10pt;"> - An immaterial error in the classification of an equity method investee's distributions was corrected in the April 30, 2014 consolidated financial statements which resulted in the reclassification of an equity method investee's distributions from investing to operating cash flows in the amount of $<font>184,000</font> in the consolidated statement of cash flows. The Company has evaluated the materiality of this error both qualitatively and quantitatively in accordance with Staff Accounting Bulletin No. 99, Materiality, and determined that this error was not material to our previously reported consolidated financial statements as of October 31, 2014 and prior.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"><i><font style="font-size: 10pt; font-family: 'Times New Roman', serif;">Other Reclassifications </font></i><font style="font-size: 10pt; font-family: 'Times New Roman', serif;">- Equity in earnings of investments were reclassified as a component of other income (expense) from a separate line item following the income tax provision on the statement of operations.</font> </font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>Recent Accounting Pronouncements</strong></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><i><font style="font-size: 10pt;">Financial Accounting Standards Board – Accounting Standards Update (“FASB ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606).</font></i><font style="font-size: 10pt;"></font></p>
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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” This ASU affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition – Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, Property, Plant, and Equipment, and tangible assets within the scope of Topic 350, Intangibles – Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU.</font></p>
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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps:</font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Identify the contract(s) with a customer. </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Identify the performance obligations in the contract. </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Determine the transaction price. </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Allocate the transaction price to the performance obligations in the contract. </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Recognize revenue when (or as) the entity satisfies a performance obligation. </font></p>
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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is not permitted. The Company is evaluating the effect this ASU may have on its consolidated financial statements.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"></font><br/></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px;"><i>FASB Accounting Standards Update No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs</i></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><i> </i></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px;"> </p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements</p>
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184000
11039000
11039000
22755000
22033000
550
2082000
62000
16842000
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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><b><font style="font-size: 10pt; color: black;">Reclassifications and Adjustments</font></b><font style="font-size: 10pt;"></font></p>
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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">Certain reclassifications have been made to the prior years' consolidated financial statements to conform to the April 30, 2015 presentation.</font></p>
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<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><i><font style="font-size: 10pt;">Immaterial Classification Error</font></i><font style="font-size: 10pt;"> - An immaterial error in the classification of an equity method investee's distributions was corrected in the April 30, 2014 consolidated financial statements which resulted in the reclassification of an equity method investee's distributions from investing to operating cash flows in the amount of $<font>184,000</font> in the consolidated statement of cash flows. The Company has evaluated the materiality of this error both qualitatively and quantitatively in accordance with Staff Accounting Bulletin No. 99, Materiality, and determined that this error was not material to our previously reported consolidated financial statements as of October 31, 2014 and prior.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"><i><font style="font-size: 10pt; font-family: 'Times New Roman', serif;">Other Reclassifications </font></i><font style="font-size: 10pt; font-family: 'Times New Roman', serif;">- Equity in earnings of investments were reclassified as a component of other income (expense) from a separate line item following the income tax provision on the statement of operations.</font> </font></p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>Recent Accounting Pronouncements</strong></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><i><font style="font-size: 10pt;">Financial Accounting Standards Board – Accounting Standards Update (“FASB ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606).</font></i><font style="font-size: 10pt;"></font></p>
<p style="margin: 0in 0in 0.0001pt; text-indent: 0.5in; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">In May 2014, the FASB issued ASU 2014-09, “Revenue from Contracts with Customers (Topic 606).” This ASU affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets unless those contracts are within the scope of other standards (e.g., insurance contracts or lease contracts). This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition, and most industry-specific guidance. This ASU also supersedes some cost guidance included in Subtopic 605-35, Revenue Recognition – Construction-Type and Production-Type Contracts. In addition, the existing requirements for the recognition of a gain or loss on the transfer of nonfinancial assets that are not in a contract with a customer (e.g., assets within the scope of Topic 360, Property, Plant, and Equipment, and tangible assets within the scope of Topic 350, Intangibles – Goodwill and Other) are amended to be consistent with the guidance on recognition and measurement (including the constraint on revenue) in this ASU.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 0.5in; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The core principle of the guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. To achieve that core principle, an entity should apply the following steps:</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; text-indent: 0.5in; font-size: 12pt; font-family: 'Times New Roman', serif; line-height: 1;"><font style="font-size: 10pt;"> </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: Symbol;"> • </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Identify the contract(s) with a customer. </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">   </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: Symbol;"> • </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Identify the performance obligations in the contract. </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif; line-height: 1;"><font style="font-size: 10pt;"> </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: Symbol;"> • </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Determine the transaction price. </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif; line-height: 1;"><font style="font-size: 10pt;"> </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">   </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: Symbol;"> • </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Allocate the transaction price to the performance obligations in the contract. </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif; line-height: 1;"><font style="font-size: 10pt;"> </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">   </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: Symbol;"> • </font></p>
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<p style="margin: 0in 0in 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> Recognize revenue when (or as) the entity satisfies a performance obligation. </font></p>
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<p style="margin: 0in 0in 0.0001pt; text-indent: 0.5in; font-size: 12pt; font-family: 'Times New Roman', serif; line-height: 1;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is not permitted. The Company is evaluating the effect this ASU may have on its consolidated financial statements.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"></font><br/></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px;"><i>FASB Accounting Standards Update No. 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs</i></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><i> </i></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">The amendments in this ASU require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this ASU.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px;"> </p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;">The amendments are effective for financial statements issued for fiscal years beginning after December 15, 2015, and interim periods within those fiscal years. The Company does not expect the adoption of this guidance to have a material impact on its consolidated financial statements</p>
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<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><strong><font style="font-size: 13.3333330154419px;">April 30, 2015</font></strong></p>
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<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><br/></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 1 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 2 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 3   </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Total </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Assets at fair value: </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"></td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Available-for-sale securities </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>25,325,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt;"><font>–</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$               </td>
<td style="background: white; padding: 0px;">
<p class="MsoNormal" style="text-align: right; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="right"><font style="font-size: 10.0pt;"> <font>–</font></font></p>
</td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>25,325,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Liabilities at fair value: </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Derivative </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt;"><font>–</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,803,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px;">
<p class="MsoNormal" style="text-align: right; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="right"><font style="font-size: 10.0pt;"> <font>–</font> </font></p>
</td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,803,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
</table>
</div>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></p>
<div class="CursorPointer">
<table class="MsoNormalTable" style="border-collapse: collapse; width: 100%;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';">October 31, 2014 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
</tr>
<tr>
<td style="padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><br/></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 1 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 2 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 3 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Total </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Assets at fair value: </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"></td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Available-for-sale securities </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>24,270,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt;"><font>–</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$               </td>
<td style="background: white; padding: 0px;">
<p class="MsoNormal" style="text-align: right; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="right"><font style="font-size: 10.0pt;"> <font>–</font> </font></p>
</td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>24,270,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Liabilities at fair value: </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Derivative </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt;"><font>–</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,782,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px;">
<p class="MsoNormal" style="text-align: right; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="right"><font style="font-size: 10.0pt;"> <font>–</font> </font></p>
</td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,782,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
</table>
</div>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><br/></p>
</div>
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify;"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">3. Fair Value Measurements</font></b><br/></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';">Under the FASB ASC 820, <i>Fair Value Measurement and Disclosures</i>, a fair value measurement is determined based on the assumptions that a market participant would use in pricing an asset or liability. A three-tiered hierarchy draws distinctions between market participant assumptions based on (i) observable inputs such as quoted prices in active markets (Level 1), (ii) inputs other than quoted prices in active markets that are observable either directly or indirectly (Level 2) and (iii) unobservable inputs that require the Company to use present value and other valuation techniques in the determination of fair value (Level 3).</font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';">The following table sets forth the Company's financial assets and liabilities as of April 30, 2015 and October 31, 2014, which are measured on a recurring basis during the period, segregated by level within the fair value hierarchy:</font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></p>
<div class="CursorPointer"><br/></div>
<div>
<div class="CursorPointer">
<table class="MsoNormalTable" style="border-collapse: collapse; width: 100%;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="padding: 0px; width: 20px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><strong><font style="font-size: 13.3333330154419px;">April 30, 2015</font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
</tr>
<tr>
<td style="padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><br/></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 1 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 2 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 3   </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Total </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Assets at fair value: </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"></td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Available-for-sale securities </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>25,325,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt;"><font>–</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$               </td>
<td style="background: white; padding: 0px;">
<p class="MsoNormal" style="text-align: right; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="right"><font style="font-size: 10.0pt;"> <font>–</font></font></p>
</td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>25,325,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Liabilities at fair value: </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Derivative </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt;"><font>–</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,803,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px;">
<p class="MsoNormal" style="text-align: right; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="right"><font style="font-size: 10.0pt;"> <font>–</font> </font></p>
</td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,803,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
</table>
</div>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></p>
<div class="CursorPointer">
<table class="MsoNormalTable" style="border-collapse: collapse; width: 100%;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';">October 31, 2014 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman'; width: 20px;"><strong> </strong></td>
<td style="padding: 0px; width: 20px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
</tr>
<tr>
<td style="padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><br/></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 1 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 2 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Level 3 </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><strong><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> Total </font></strong></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Assets at fair value: </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"></td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';" colspan="2"> </td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Available-for-sale securities </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>24,270,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt;"><font>–</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$               </td>
<td style="background: white; padding: 0px;">
<p class="MsoNormal" style="text-align: right; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="right"><font style="font-size: 10.0pt;"> <font>–</font> </font></p>
</td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>24,270,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Liabilities at fair value: </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="text-align: justify; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Derivative </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt;"><font>–</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,782,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px;">
<p class="MsoNormal" style="text-align: right; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="right"><font style="font-size: 10.0pt;"> <font>–</font> </font></p>
</td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,782,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
</table>
</div>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><br/></p>
</div>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';">Available-for-sale securities consist of marketable securities in Calavo common stock. The Company currently owns <font>500,000</font> shares, representing approximately <font>2.9</font>% of Calavo's outstanding common stock. These securities are measured at fair value by quoted market prices. Calavo's stock price at April 30, 2015 and October 31, 2014 was $<font>50.65</font> and $<font>48.54</font> per share, respectively.</font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';">The derivative consists of an interest rate swap, the fair value of which is estimated using industry-standard valuation models. Such models project future cash flows and discount the future amounts to a present value using market-based observable inputs.</font></p>
</div>
57098000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>6. Real Estate Development Assets</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Real estate development assets consist of the following:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong></p>
</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 80%; text-align: left; background-color: #cceeff;">East Areas 1 and 2</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; width: 10%; text-align: right; vertical-align: bottom; background-color: #cceeff;"><font>57,098,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; width: 10%; text-align: right; vertical-align: bottom; background-color: #cceeff;"><font>55,016,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Templeton Santa Barbara, LLC</td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>11,039,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>11,039,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;">Windfall Investors, LLC</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>22,755,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>22,033,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>90,892,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>88,088,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
</table>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>East Areas 1 and 2</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In fiscal year 2005, the Company began capitalizing the costs of <font>two</font> real estate development projects east of Santa Paula, California, for the development of <font>550</font> acres of land into residential units, commercial buildings and civic facilities. During the three months ended April 30, 2015 and 2014, the Company capitalized $<font>1,075,000</font> and $<font>863,000</font>, respectively, of costs related to these projects. During the six months ended April 30, 2015 and 2014, the Company capitalized $<font>2,082,000</font> and $<font>1,506,000</font>, respectively, of costs related to these projects. Additionally, in relation to these projects, the Company incurred expenses of $<font>4,000</font> in the three months ended April 30, 2015 and 2014, and $<font>8,000</font> and $<font>9,000</font> <font style="font-size: 10pt; font-family: 'Times New Roman', serif;">in the six months ended April 30, 2015 and 2014, respectively.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">On August 24, 2010, the Company entered into an amendment (the “Amendment”) to a Real Estate Advisory Management Consultant Agreement (the “Consultant Agreement”) with Parkstone Companies, Inc. (the “Consultant”) dated April 1, 2004, that includes provisions for the Consultant to earn a success fee (the “Success Fee”) upon the annexation by the City of Santa Paula, California of East Area I. Under the terms of the Amendment, the Company agrees to pay the Success Fee in an amount equal to 4% of the incremental Property Value under a formula defined in the Amendment.  The Success Fee is due and payable 120 days following the earlier to occur of (a) the sale of all or any portion of East Area I, including any unrelated third party material investment in the property, (b) the determination of an appraised value of the East Area I or (c) the second anniversary of the property annexation (each a “Success Fee Event”).</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Success Fee, if any, shall be paid in cash, shares of the Company's common stock, or any combination of the forgoing at the sole discretion of the Company.  The Success Fee is based on the calculated value of the property, which can vary over time until the settlement date. Accordingly, the Success Fee will be “marked to market” periodically to recognize the potential variability in the property value. Changes in the value, if any, will be recorded to capitalized development costs and additional paid in capital (“APIC”). To the extent that it becomes probable that cash will be used in the settlement rather than stock, such amount of cash will be classified as a liability rather than APIC.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">If the Success Fee is paid in shares of common stock, deemed to be an equity award, the amount of common stock paid will be determined using a price per share equal to the average of closing prices of the common stock on the NASDAQ Global Market for the 20 trading days ending on the last trading day prior to the earliest occurring Success Fee Event; provided, however, that the price per share shall be no less than $16.00 per share. Previously recognized capitalized development costs will be adjusted to reflect the calculated value of the property upon settlement. The related APIC amount will be adjusted to common stock to reflect the issuance of common stock. To the extent that it becomes probable that cash will be used in the settlement rather than stock, such amount of cash will be classified as a liability rather than APIC/common stock. As of April 30, 2015, the estimated amount of the Success Fee was zero.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In connection with facilitating the annexation of East Area 1 into the City of Santa Paula, during February 2013, the Company entered into a Capital Improvement Cost Sharing Agreement for Improvements to Santa Paula Creek Channel (the “Cost Sharing Agreement”) with the Ventura County Watershed Protection District (the “District”). The Cost Sharing Agreement requires the Company to reimburse the District <font>28.5</font>% of the costs of the improvements, up to a maximum of $<font>5,000,000</font>. Additionally, the Company is required to pay the cost of preparing a study to determine a feasible scope of work and budget for the improvements.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>Templeton Santa Barbara, LLC</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The <font>three</font> real estate development parcels within the Templeton Santa Barbara, LLC project are described as Centennial Square (“Centennial”), The Terraces at Pacific Crest (“Pacific Crest”), and Sevilla. The net carrying values of Centennial, Pacific Crest and Sevilla at April 30, 2015 and October 31, 2014 were $<font>2,983,000</font>, $<font>3,370,000</font> and $<font>4,686,000</font>, respectively. These projects were idle during the six months ended April 30, 2015 and, as such, no costs were capitalized.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">During the three months ended April 30, 2015 and 2014, the Company capitalized <font>zero</font> and $<font>92,000</font>, respectively, of costs related to these real estate parcels. </font>During the six months ended April 30, 2015 and 2014, the Company capitalized <font>zero</font> and $<font>173,000</font>, respectively, of costs related to these real estate parcels. Additionally, in relation to these parcels, the Company incurred net expenses of $<font>43,000</font> and $<font>35,000</font> in the three months ended April 30, 2015 and 2014, respectively, and $<font>86,000</font> and $<font>62,000</font> in the six months ended April 30, 2015 and 2014, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>Windfall Investors, LLC</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">On November 15, 2009, the Company acquired Windfall Investors, LLC, which included $<font>16,842,000</font> of real estate development assets. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">During the three months ended April 30, 2015 and 2014, the Company capitalized $<font>572,000</font> and $<font>465,000</font>, respectively, of costs related to this real estate development project. </font>During the six months ended April 30, 2015 and 2014, the Company capitalized $<font>722,000</font> and $<font>650,000</font>, respectively, of costs related to this real estate development project. Additionally, in relation to this project, the Company incurred net expenses of $<font>174,000</font> and $<font>186,000</font>, in the three months ended April 30, 2015 and 2014, respectively, and $<font>359,000</font> and $<font>453,000</font> in the six months ended April 30, 2015 and 2014, respectively.</p>
</div>
1506000
8000
9000
0.285
5000000
2983000
3370000
4686000
0
173000
86000
23450000
13450000
335000
6079000
2729000
165000
4788000
3138000
1055000
641000
700000
422000
680000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>8. Other Assets</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Other assets consist of the following:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<div>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong></p>
</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 80%; text-align: left; background-color: #cceeff;">Investments in mutual water companies</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; width: 10%; text-align: right; vertical-align: bottom; background-color: #cceeff;"><font>4,016,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; width: 10%; text-align: right; vertical-align: bottom; background-color: #cceeff;"><font> 3,731,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Acquired water and mineral rights</td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,536,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 1,536,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;">Deferred lease assets and other</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,154,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 1,282,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Revolving funds and memberships</td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>308,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 355,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;">Acquired trade names and trademarks, net</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>488,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 530,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Goodwill</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>680,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 680,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>8,182,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 8,114,000 </font></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
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375000
355000
4115000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>7. Investment in Calavo Growers, Inc.</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In June 2005, the Company entered into a stock purchase agreement with Calavo. Pursuant to this agreement, the Company purchased <font>1,000,000</font> shares, or approximately <font>6.9</font>%, of Calavo's common stock for $<font>10,000,000</font> and Calavo purchased <font>1,728,570</font> shares, or approximately <font>15.1</font>%, of the Company's common stock for $<font>23,450,000</font>. Under the terms of the agreement, the Company received net cash consideration of $<font>13,450,000</font>. The Company has classified its marketable securities investment as available-for-sale.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In fiscal year 2009, the Company sold <font>335,000</font> shares of Calavo stock for a total of $<font>6,079,000</font>, recognizing a gain of $<font>2,729,000</font>. <font style="color: #FD0206;"><font style="color: #000000;">In fiscal year 2013, the Company sold</font> <font style="color: #000000;"> <font>165,000</font> shares to Calavo pursuant to the 2005 Stock Purchase Agreement for a total of </font></font><font style="color: #000000;">$<font>4,788,000</font>, recognizing a gain of $<font>3,138,000</font>. <!-- [if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:AllowPNG></o:AllowPNG> </o:OfficeDocumentSettings>
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<![endif]--> <font style="font-size: 10pt; font-family: 'Times New Roman', serif;">The Company continues to own <font>500,000</font> shares of Calavo common stock.</font></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Changes in the fair value of the available-for-sale securities result in unrealized holding gains or losses for the remaining shares held by the Company. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"> The Company recorded unrealized holding gains of $<font>5,270,000</font> ($<font>3,186,000</font> net of tax) and $<font>355,000</font> ($<font>214,000</font> net of tax), during the three months ended April 30, 2015 and 2014, respectively. </font>The Company recorded unrealized holding gains of <font>$1,055,000</font> ($<font>641,000</font> net of tax) and $<font>700,000</font> ($<font>422,000</font> net of tax), during the six months ended April 30, 2015 and 2014, respectively.</p>
</div>
4016000
3731000
1536000
1536000
1154000
1282000
308000
355000
488000
530000
680000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong></p>
</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; width: 80%; text-align: left; background-color: #cceeff;">Investments in mutual water companies</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; width: 10%; text-align: right; vertical-align: bottom; background-color: #cceeff;"><font>4,016,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; width: 10%; text-align: right; vertical-align: bottom; background-color: #cceeff;"><font> 3,731,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Acquired water and mineral rights</td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,536,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 1,536,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;">Deferred lease assets and other</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,154,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 1,282,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Revolving funds and memberships</td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>308,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 355,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;">Acquired trade names and trademarks, net</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>488,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 530,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;">Goodwill</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>680,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="border-bottom: #000000 1pt solid; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 680,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>8,182,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="border-bottom: #000000 2.80pt double; text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="border-bottom: #000000 2.80pt double; text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 8,114,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
0.0018
0.0180
0.0275
4497000
4756000
0.0275
492000
492000
0.0275
1292000
1475000
0
2000
8000
88104000
68354000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><strong>10. Long-Term Debt</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Long-term debt is comprised of the <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">following:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<div>
<div style="display: block;">
<div class="CursorPointer">
<table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;">
<tr>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; text-align: center;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td width="80%" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 84%; background-color: #cceeff;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.2pt;"><font style="font-size: 10pt;">Rabobank revolving credit facility: the interest rate is variable based on the one-month London Interbank Offered Rate (LIBOR), which was <font>0.18</font>% at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;">, plus <font>1.80</font>%. Interest is payable monthly and the </font><font style="font-size: 10pt;">principal is due in full in </font><font style="font-size: 10pt;">June 2018</font><font style="font-size: 10pt;">.</font></p>
</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td width="10%" align="right" valign="bottom" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; width: 8%; vertical-align: bottom; text-align: right; white-space: nowrap; background-color: #cceeff;"><font>81,821,000</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td width="10%" align="right" valign="bottom" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; width: 8%; vertical-align: bottom; text-align: right; white-space: nowrap; background-color: #cceeff;"><font> 61,623,000 </font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Farm Credit West term loan: the interest rate is variable and was <font>2.75</font>% at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;">. The loan is payable in quarterly installments through </font><font style="font-size: 10pt;">November 2022</font><font style="font-size: 10pt;">.</font></td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font>4,497,000</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font> 4,756,000 </font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Farm Credit West non-revolving line of credit: the interest rate is variable and was <font>2.75</font>% at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;">. Interest is payable monthly and the principal is due in full in </font><font style="font-size: 10pt;">May 2018</font><font style="font-size: 10pt;">.</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>492,000</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 492,000 </font></td>
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<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Farm Credit West term loan: <!-- [if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:AllowPNG></o:AllowPNG> </o:OfficeDocumentSettings>
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<![endif]--> <font style="font-family: 'Times New Roman', serif;">the interest rate is variable and was</font> <font>2.75</font>% at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;">. The loan is payable in monthly installments through October 2035.</font></td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font>1,292,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font> 1,475,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">CNH Capital loans: the interest rate is <font>zero</font> and the loans are payable in monthly installments through May and </font><font style="font-size: 10pt;">July 2015</font><font style="font-size: 10pt;">.</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 8,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Subtotal</font></td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
<td align="right" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font>88,104,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
<td align="right" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font> 68,354,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Less current portion</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>583,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 583,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Total long-term debt, less current portion</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td align="left" style="border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;">$</td>
<td align="right" style="border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font>87,521,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td align="left" style="border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;">$</td>
<td align="right" style="border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font> 67,771,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
</tr>
</table>
</div>
</div>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">Interest is capitalized on non-bearing orchards, real estate development projects and significant construction in progress. The Company capitalized interest of $<font>613,000</font> and $<font>601,000</font> during the three months ended April 30, 2015 and 2014, respectively, and $<font>1,223,000</font> and $<font>1,198,000</font> during the six months ended April 30, 2015 and 2014, respectively. Capitalized interest is included in property, plant and equipment and real estate development assets in the Company's consolidated balance sheets.</p>
</div>
81821000
1223000
1198000
61623000
1173000
136000
582000
396000
365000
592000
P20Y
200
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="display: block;">
<div class="CursorPointer">
<table cellspacing="0" cellpadding="0" style="font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; border-collapse: collapse; width: 100%;">
<tr>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; text-align: center;"> </td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td width="80%" style="font-family: 'times new roman'; border: none #000000; padding: 0px; width: 84%; background-color: #cceeff;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.2pt;"><font style="font-size: 10pt;">Rabobank revolving credit facility: the interest rate is variable based on the one-month London Interbank Offered Rate (LIBOR), which was <font>0.18</font>% at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;">, plus <font>1.80</font>%. Interest is payable monthly and the </font><font style="font-size: 10pt;">principal is due in full in </font><font style="font-size: 10pt;">June 2018</font><font style="font-size: 10pt;">.</font></p>
</td>
<td style="font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td width="10%" align="right" valign="bottom" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; width: 8%; vertical-align: bottom; text-align: right; white-space: nowrap; background-color: #cceeff;"><font>81,821,000</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td width="10%" align="right" valign="bottom" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; width: 8%; vertical-align: bottom; text-align: right; white-space: nowrap; background-color: #cceeff;"><font> 61,623,000 </font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Farm Credit West term loan: the interest rate is variable and was <font>2.75</font>% at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;">. The loan is payable in quarterly installments through </font><font style="font-size: 10pt;">November 2022</font><font style="font-size: 10pt;">.</font></td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font>4,497,000</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font> 4,756,000 </font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Farm Credit West non-revolving line of credit: the interest rate is variable and was <font>2.75</font>% at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;">. Interest is payable monthly and the principal is due in full in </font><font style="font-size: 10pt;">May 2018</font><font style="font-size: 10pt;">.</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>492,000</font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 492,000 </font></td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;">Farm Credit West term loan: <!-- [if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:AllowPNG></o:AllowPNG> </o:OfficeDocumentSettings>
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<![endif]--> <font style="font-family: 'Times New Roman', serif;">the interest rate is variable and was</font> <font>2.75</font>% at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;">. The loan is payable in monthly installments through October 2035.</font></td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font>1,292,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
<td align="right" style="font-family: 'times new roman'; border: none #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font> 1,475,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">CNH Capital loans: the interest rate is <font>zero</font> and the loans are payable in monthly installments through May and </font><font style="font-size: 10pt;">July 2015</font><font style="font-size: 10pt;">.</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 8,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Subtotal</font></td>
<td style="font-family: 'Times New Roman';"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
<td align="right" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font>88,104,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td align="left" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
<td align="right" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font> 68,354,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;">Less current portion</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>583,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left-style: none; border-right-style: none; border-color: #000000; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="left" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
<td align="right" style="border-bottom-width: 1pt; border-style: none none solid; font-family: 'times new roman'; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font> 583,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;">Total long-term debt, less current portion</font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td align="left" style="border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;">$</td>
<td align="right" style="border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font>87,521,000</font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-color: #000000; padding: 0px; font-size: 10pt; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td align="left" style="border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;">$</td>
<td align="right" style="border-bottom: #000000 2.80pt double; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-color: #000000; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;"><font> 67,771,000 </font></td>
<td align="left" style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; padding-right: 5px;"> </td>
</tr>
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2035-10-31
2018-05-30
2022-11-30
2018-06-30
40000000
40000000
1803000
1782000
0.0430
0.20
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>11. Derivative Instrument and Hedging Activities</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company enters into interest rate swaps to minimize the risks and costs associated with its financing activities. Derivative financial instruments are as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<div class="CursorPointer">
<div>
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<tr>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td colspan="6" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>Notional Amount</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td colspan="6" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>Fair Value Liability</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td> </td>
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<tr>
<td align="left" style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; text-align: left;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td colspan="2" align="center" valign="bottom" style="font-family: 'times new roman'; border-style: none none solid; border-bottom-width: 1pt; border-color: rgb(0, 0, 0); padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td colspan="2" align="center" valign="bottom" style="font-family: 'times new roman'; border-style: none none solid; border-bottom-width: 1pt; border-color: rgb(0, 0, 0); padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong><br/></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><strong> </strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><strong> </strong></td>
<td colspan="2" align="center" valign="bottom" style="font-family: 'times new roman'; border-style: none none solid; border-bottom-width: 1pt; border-color: rgb(0, 0, 0); padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong><br/></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><strong> </strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><strong> </strong></td>
<td colspan="2" align="center" valign="bottom" style="font-family: 'times new roman'; border-style: none none solid; border-bottom-width: 1pt; border-color: rgb(0, 0, 0); padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong><br/></p>
</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;">Pay fixed-rate, receive floating-rate forward interest rate swap, beginning July 2013 until <font>June 2018</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>40,000,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>40,000,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,803,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,782,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0px; text-align: justify;">In November 2011, the Company entered into a forward interest rate swap agreement with Rabobank International, Utrecht to fix the interest rate at <font>4.30</font>% on $<font>40,000,000</font> <font style="font-size: 10pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', serif;">of its outstanding borrowings under the Rabobank line of credit beginning July 2013 until June 2018. This interest rate swap qualifies as a cash flow hedge and is accounted for as a hedge under the short-cut method. Therefore, the fair value liability is included in fair value of derivative instrument, other long-term liabilities and related accumulated other comprehensive income at April 30, 2015 and October 31, 2014.</font></font></p>
</div>
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="display: block;">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td colspan="6" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>Notional Amount</strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td colspan="6" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;"><strong>Fair Value Liability</strong></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td> </td>
</tr>
<tr>
<td align="left" style="font-family: 'times new roman'; border: none rgb(0, 0, 0); padding: 0px; text-align: left;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"> </td>
<td colspan="2" align="center" valign="bottom" style="font-family: 'times new roman'; border-style: none none solid; border-bottom-width: 1pt; border-color: rgb(0, 0, 0); padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"> </td>
<td colspan="2" align="center" valign="bottom" style="font-family: 'times new roman'; border-style: none none solid; border-bottom-width: 1pt; border-color: rgb(0, 0, 0); padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong><br/></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><strong> </strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><strong> </strong></td>
<td colspan="2" align="center" valign="bottom" style="font-family: 'times new roman'; border-style: none none solid; border-bottom-width: 1pt; border-color: rgb(0, 0, 0); padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom; text-align: center;">
<p style="margin: 0px;"><strong>April 30,</strong></p>
<p style="margin: 0px;"><strong>2015</strong><br/></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><strong> </strong></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><strong> </strong></td>
<td colspan="2" align="center" valign="bottom" style="font-family: 'times new roman'; border-style: none none solid; border-bottom-width: 1pt; border-color: rgb(0, 0, 0); padding: 0px 10px 0px 0px; white-space: nowrap; vertical-align: bottom; text-align: center;">
<p style="margin: 0px;"><strong>October 31,</strong></p>
<p style="margin: 0px;"><strong>2014</strong><br/></p>
</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; background-color: #cceeff;">Pay fixed-rate, receive floating-rate forward interest rate swap, beginning July 2013 until <font>June 2018</font></td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>40,000,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>40,000,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,803,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,782,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
</div>
2013-07
2018-06
293000
273000
703000
745000
306000
74000
699000
551000
124000
177000
1200
5177000
194000
68000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>13. Related-Party Transactions</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company rents certain of its residential housing assets to employees on a month-to-month basis. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"> The Company recorded $<font>138,000</font> and $<font>126,000</font> of rental revenue from employees in the three months ended April 30, 2015 and 2014, respectively. </font>The Company recorded $<font>293,000</font> and $<font>273,000</font> <font style="color: #000000; font-family: 'Times New Roman', serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">of rental revenue from employees in the six months ended April 30, 2015 and 2014, respectively. There were no rental payments due from employees at April 30, 2015 and October 31, 2014.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company has representation on the boards of directors of the mutual water companies in which the Company has investments. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The Company recorded capital contributions and purchased water and water delivery services from such mutual water companies, in aggregate, of $<font>117,000</font> and $<font>158,000</font> in the three months ended April 30, 2015 and 2014, respectively. </font>The Company recorded capital contributions and purchased water and water delivery services from such mutual water companies, in aggregate, of $<font>703,000</font> and $<font>745,000</font> in the six months ended April 30, 2015 and 2014, respectively. Such amounts are included in agribusiness expense in the Company's consolidated statements of operations. Payments due to the mutual water companies were, in aggregate, $<font>306,000</font> and $<font>74,000</font> at April 30, 2015 and October 31, 2014, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company has representation on the board of directors of a non-profit cooperative association that provides pest control services for the agricultural industry. T<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">he Company purchased services and supplies of $<font>357,000</font> and $<font>302,000</font> from the association in the three months ended April 30, 2015 and 2014, respectively. </font>The Company purchased services and supplies of $<font>699,000</font> and $<font>551,000</font> from the association in the six months ended April 30, 2015 and 2014, respectively. Such amounts are included in agribusiness expense in the Company's consolidated statements of operations. Payments due to the association were $<font>124,000</font> and $<font>177,000</font> at April 30, 2015 and October 31, 2014, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company recorded dividend income of $<font>375,000</font> and $<font>355,000</font> in the six months ended April 30, 2015 and 2014, respectively, on its investment in Calavo, which is included in other income (expense), net in the Company's consolidated statements of operations. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The Company had $<font>4,109,000</font> and $<font>1,165,000</font> of avocado sales to Calavo for the three months ended April 30, 2015 and 2014, respectively. </font>The Company had $<font>4,115,000</font> and $<font>1,173,000</font> of avocado sales to Calavo for the six months ended April 30, 2015 and 2014, respectively. Such amounts are included in agribusiness revenues in the Company's consolidated statements of operations. There was $<font>2,241,000</font> and <font>zero</font> receivable by the Company from Calavo at April 30, 2015 and October 31, 2014, respectively. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">Additionally, the Company leases office space to Calavo and received rental income of $<font>67,000</font> and $<font>69,000</font> in the three months ended April 30, 2015 and 2014, respectively. The Company</font> received rental income from Calavo of $<font>136,000</font> and $<font>138,000</font> <font style="background-color: #ffffff;">in <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">the six months ended April 30, 2015 and 2014, respectively</font></font>. Such amounts are included in rental operations revenues in the Company's consolidated statements of operations.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Certain members of the Company's board of directors market lemons through the Company pursuant to its customary marketing agreements. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">During the three months ended April 30, 2015 and 2014, the aggregate amount of lemons procured from entities owned or controlled by members of the board of directors was $<font>526,000</font> and $<font>390,000</font>, respectively. </font>Dur<font style="background-color: #ffffff;">ing <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">the six months ended April 30, 2015 and 2014,</font> th</font>e aggregate amount was $<font>582,000</font> and $<font>396,000</font>, respectively. Such amounts are included in agribusiness expense in the Company's consolidated statements of operations. Payments due to these board members were $<font>365,000</font> and $<font>592,000</font> at April 30, 2015 and October 31, 2014, respectively.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">On July 1, 2013, the Company and Cadiz Real Estate, LLC (“Cadiz”), a wholly-owned subsidiary of Cadiz, Inc., entered into a long-term lease agreement (the “Lease”) for a minimum of 320 acres, with an option to lease up to an additional 640 acres, located within 9,600 zoned agricultural acres owned by Cadiz in eastern San Bernardino County, California. The initial term of the Lease runs for <font>20</font> years and the annual base rental rate will be equal to the sum of $<font>200</font> per planted acre and <font>20</font>% of gross revenues from the sale of harvested lemons (less operating expenses) and will not exceed $<font>1,200</font> per acre per <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">year. As of April 30, 2015, $<font>25,000</font> of lease expense has been incurred. <font style="background-color: #ffffff;">A member of the Company's board of directors serves as the CEO, President and a member of the board of directors of Cadiz, Inc. Additionally, this board member is an attorney wit</font>h a law firm that provided services of $<font>102,000</font> and $<font>44,000</font> to the Company during <font style="background-color: #ffffff;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">the six months ended April 30, 2015 and 2014</font>, re</font>spectively</font><font style="font-size: 10pt; font-family: 'Times New Roman', serif; color: black;">.</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">On February 3, 2015, the Company entered into a Modification of Lease Agreement (the “Amendment”) with Cadiz. The Amendment, among other things, increased by 200 acres the amount of property leased by the Company under the lease agreement dated July 1, 2013. In connection with the Amendment, the Company paid a total of $<font>1,212,000</font> to acquire existing lemon trees and irrigations systems from Cadiz and a Cadiz tenant.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The Company has representation on the board of directors of Colorado River Growers, Inc. (“CRG”), a non-profit cooperative association of fruit growers engaged in the agricultural harvesting and marketing business in Yuma County, Arizona. The Company paid harvest and third-party grower expense to CRG of $<font>1,106,000</font> and $<font>2,696,000</font> for the three months ended April 30, 2015 and 2014, respectively. The Company paid <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">harvest and third-party grower expense to CRG of<font class="Apple-converted-space"> </font></font>$<font>5,177,000</font> <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">and $<font>5,505,000</font> for the six months ended April 30, 2015 and 2014, respectively. Such</font> amounts are included in agribusiness expense in the Company's <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">consolidated statements of operations. Additionally, Associated Citrus Packers, Inc. <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">(“Associated”)</font> provided harvest management and administrative services to CRG in the amount of $<font>305,000</font> and $<font>295,000</font></font> in<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"> the six months ended April 30, 2015 and 2014, respectively. Such amounts are included in agribusiness revenues in the Company's consolidated statements of operations. There was <font>zero</font> and</font> $<font>194,000</font> receivable by<font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;"> Associated from CRG at April 30, 2015 and October 31, 2014, respectively</font>.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The Company has representation on the board of directors of Yuma Mesa Irrigation and Drainage District (“YMIDD”). In December 2013, Associated entered into an agreement, as amended in December 2014, with the YMIDD to participate in a Pilot Fallowing Program in which Associated agreed to forego its water allocation for approximately 300 acres of land in exchange for $<font>750</font> per acre through December 31, 2016, unless terminated sooner by YMIDD. In relation to this program, during the three months ended April 30, 2015 and 2014 the Company recorded revenues of $<font>51,000</font> and $<font>51,000</font>, respectively. In relation to this program, during the six months ended April 30, 2015 and 2014 the Company recorded revenues of $<font>101,000</font> and $<font>68,000</font>, respectively, and recorded losses on orchard disposals of $<font>160,000</font> and $<font>183,000</font>, respectively. These amounts are included in other income, net in the Company's consolidated statements of operations. Additionally, the Company <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">purchased water in the amounts o</font><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">f</font> <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">$<font>53,000</font> and $<font>52,000</font> from YMIDD </font><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">during the three months ended April 30, 2015 and 2014, respectively. The Company purchased water in the amounts of </font>$<font>68,000</font> <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: 0px; float: none; display: inline !important;">and $<font>62,000</font> </font>from YMIDD during the six months ended April 30, 2015 and 2014, respectively. Such amounts are included in agribusiness expenses in the Company's consolidated statements of operations. There were <font>no</font> amounts receivable from or payments due to YMIDD at </font><font style="font-size: 10pt;">April 30, 2015</font><font style="font-size: 10pt;"> and </font><font style="font-size: 10pt;">October 31, 2014</font><font style="font-size: 10pt;">.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt; color: black;">The Company has a <font>1.3</font>% interest in Limco Del Mar, Ltd. (“Del Mar”) as a general partner and a <font>22.1</font>% interest as a limited partner. </font><font style="font-size: 10pt; color: black;"><font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">The Company provides Del Mar with farm management, orchard land development and accounting services, and recognized agribusiness revenue of $<font>75,000</font> and $<font>79,000</font> in the six months ended April 30, 2015 and 2014, respectively. The Company also performed contract lemon packing services for Del Mar and recognized agribusiness revenues of $<font>103,000</font> and $<font>121,000</font> in the six months ended April 30, 2015 and 2014, respectively. </font></font><font style="font-size: 10pt; color: black;">Fruit proceeds due to Del Mar were $<font>136,000</font> and $<font>828,000</font> at April 30, 2015 and October 31, 2014, respectively, and are included in grower's payable in the Company's consolidated balance sheets. In the three months ended April 30, 2015 and 2014, the Company received cash distributions of $<font>184,000</font> and <font>zero</font>, respectively, and recorded equity in earnings (losses) of this investment of $<font>5,000</font> and ($<font>53,000</font>), respectively.</font><font style="font-size: 10pt;"> In the six months ended April 30, 2015 and 2014, the Company received cash distributions of $<font>496,000</font> and $<font>184,000</font>, respectively, and recorded equity in earnings of this investment of $<font>187,000</font> and $<font>31,000</font>, respectively.</font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"></font><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">On August 14, 2014, the Company's wholly owned subsidiary, Limoneira Chile SpA, invested approximately $<font>1,750,000</font> for a <font>35</font>% interest in Rosales S.A. (“Rosales”), a citrus packing, marketing and sales business located in La Serena, Chile. The Company recognized lemon sales of <font>zero</font> and $<font>119,000</font> to Rosales in the three and six months ended April 30, 2015, respectively and such amounts are recorded in agribusiness revenues in the Company's consolidated statements of operations. Amounts due from Rosales were <font>zero</font> at April 30, 2015 and October 31, 2014. <font style="font-size: 10pt; font-family: 'Times New Roman', serif; color: black;">Additionally, the Company recorded equity in losses of this investment of $<font>49,000</font> and $<font>95,000</font> and amortization of fair value basis differences of $<font>52,000</font> and $<font>104,000</font> in the three and six months ended April 30, 2015, respectively.</font></font></p>
</div>
102000
44000
5505000
0
62000
-160000
1750000
1212000
-183000
101000
0.35
0
68000
119000
750
0.013
0.221
75000
79000
136000
828000
496000
184000
187000
31000
-95000
52000
3
624000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><strong>14. Income Taxes</strong></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">There has been no material change to the Company's uncertain tax position for the three and six month periods ended April 30, 2015. The Company does not expect its unrecognized tax benefits to change significantly over the next 12 months.<br/></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', serif;">The Company's policy is to recognize interest expense and penalties related to income tax matters as a component of income tax expense. The Company has not accrued any interest and penalties associated with uncertain tax positions as of April 30, 2015.</font></p>
</div>
250000
250000
4634000
4954000
1035000
973000
300000
300000
55000
55000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-size: 10pt;"><strong>16. Other Long-Term Liabilities</strong></font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-size: 10pt;"> </font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><font style="font-size: 10pt;">Other long-term liabilities consist of the following:</font></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"><font style="font-size: 10pt;"> </font></p>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"> </font></td>
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<p style="margin: 0px;"><font style="font-size: 10pt;"><strong>April 30, </strong><strong>2015</strong></font></p>
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<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><font style="font-size: 10pt;"> </font></td>
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<p style="margin: 0px;"><font style="font-size: 10pt;"><strong>October 31,</strong></font></p>
<p style="margin: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></p>
</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;"> </font></td>
<td><font style="font-size: 10pt;"> </font></td>
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<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; width: 80%; background-color: #cceeff;"><font style="font-size: 10pt;">Minimum pension liability</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">4,634,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">4,954,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
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<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">Fair value of derivative instrument</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">1,035,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">973,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;">Contingent consideration</font></td>
<td style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">300,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">300,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">Other<br/></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">55,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">55,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">6,024,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">6,282,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
</tr>
</table>
</div>
</div>
</div>
</div>
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="display: block;">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px;"><font style="font-size: 10pt;"> </font></td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;">
<p style="margin: 0px;"><font style="font-size: 10pt;"><strong>April 30, </strong><strong>2015</strong></font></p>
</td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; text-align: center;"><font style="font-size: 10pt;"> </font></td>
<td colspan="2" style="font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: #000000 1pt solid; border-color: #000000; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap; text-align: center;">
<p style="margin: 0px;"><font style="font-size: 10pt;"><strong>October 31,</strong></font></p>
<p style="margin: 0px;"><font style="font-size: 10pt;"><strong>2014</strong></font></p>
</td>
<td style="text-align: left; font-family: 'times new roman'; border-left: none; border-right: none; border-top: none; border-bottom: none; border-color: #000000; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"><font style="font-size: 10pt;"> </font></td>
<td><font style="font-size: 10pt;"> </font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td align="left" style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: left; width: 80%; background-color: #cceeff;"><font style="font-size: 10pt;">Minimum pension liability</font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">4,634,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td align="right" valign="bottom" style="font-family: 'times new roman'; border: none #000000; padding: 0px; text-align: right; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: #cceeff;"><font><font style="font-size: 10pt;">4,954,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">Fair value of derivative instrument</font></td>
<td style="font-family: 'Times New Roman';"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">1,035,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">973,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
</tr>
<tr style="background-color: #cceeff;">
<td style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;">Contingent consideration</font></td>
<td style="font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">300,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: left; font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="text-align: right; font-family: 'times new roman'; border: none #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font><font style="font-size: 10pt;">300,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; font-size: 10pt; font-style: normal; font-weight: normal; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;">Other<br/></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">55,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 1pt; border-style: none none solid; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font><font style="font-size: 10pt;">55,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"><font style="font-size: 10pt;"> </font></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">6,024,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="font-family: 'times new roman'; border: none #000000; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: left; font-family: 'times new roman'; border-color: #000000; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;">$</font></td>
<td style="border-bottom-width: 2.8pt; border-style: none none double; text-align: right; font-family: 'times new roman'; border-color: #000000; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font><font style="font-size: 10pt;">6,282,000</font></font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"><font style="font-size: 10pt;"> </font></td>
</tr>
</table>
</div>
</div>
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0;"><b><font style="font-size: 10pt;">20. Subsequent Events</font></b><br/></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;"> </font></p>
<p style="margin: 0in 0in 0.0001pt; text-align: justify; font-size: 12pt; font-family: 'Times New Roman', serif;"><font style="font-size: 10pt;">The Company has evaluated events subsequent to April 30, 2015 through the filing date to assess the need for potential recognition or disclosure in this Quarterly Report on Form 10-Q. Based upon this evaluation, except as disclosed in the notes to consolidated financial statements, it was determined that no subsequent events occurred that require recognition or disclosure in the unaudited consolidated financial statements.</font></p>
</div>
14124332
174000
442000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">4. Accounts Receivable</font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';">The Company grants credit in the course of its operations to customers, cooperatives, companies and lessees of the Company's facilities. The Company performs periodic credit evaluations of its customers' financial condition and generally does not require collateral. The Company provides allowances on its receivables, as required, based on accounts receivable aging and certain other factors. As of April 30, 2015 and October 31, 2014 the allowances totaled $<font>174,000</font> and $<font>442,000</font>, respectively.</font></p>
</div>
0.39
0.10
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">5. Concentrations</font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';">Lemons procured from third-party growers were <font>20</font>% of lemon supply in the three months ended April 30, 2015. Lemons procured from third-party growers were <font>39</font>% of lemon supply in the six months ended April 30, 2015, of which one third-party grower was <font>10</font>% of lemon supply</font>.</p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><b> </b></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; background-color: white;">The Company sells all of its avocado production to Calavo.</p>
</div>
1579000
3280000
25000
500000
248000
235000
637000
598000
1028000
1458000
1102000
844000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">9. Accrued Liabilities</font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';">Accrued liabilities consist of the following:</font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></p>
<div>
<table class="MsoNormalTable" style="border-collapse: collapse; width: 100%;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="padding: 0px; font-family: 'Times New Roman';"></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">April 30, <br/> 2015</font></b></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="6">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">October 31, <br/> 2014</font></b></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Compensation </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 1,579,000 </font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>3,280,000</font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Property taxes </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 25,000 </font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>500,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Interest </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 248,000 </font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>235,000</font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Deferred rental income and deposits </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 637,000 </font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>598,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Lease expense </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 1,028,000 </font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,458,000</font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Lemon supplier payables </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> - </font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>624,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 13.3333330154419px;">Capital expenditures and other</font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; border-bottom: #000000 1pt solid !important; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 1,102,000 </font></td>
<td style="background: #cceeff; padding: 0px; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; border-bottom: #000000 1pt solid !important; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>844,000</font></td>
<td style="background: #cceeff; padding: 0px; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; border-bottom: #000000 2.80pt double !important; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 4,619,000 </font></td>
<td style="background: white; padding: 0px; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; border-bottom: #000000 2.80pt double !important; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>7,539,000</font></td>
<td style="background: white; padding: 0px; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
</table>
</div>
</div>
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<table class="MsoNormalTable" style="border-collapse: collapse; width: 100%;" border="0" cellspacing="0" cellpadding="0">
<tr>
<td style="padding: 0px; font-family: 'Times New Roman';"></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">April 30, <br/> 2015</font></b></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
<td style="border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="6">
<p class="MsoNormal" style="text-align: center; font-family: 'times new roman'; margin-top: 0pt; margin-bottom: 0pt;" align="center"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">October 31, <br/> 2014</font></b></p>
</td>
<td style="padding: 0px; font-family: 'Times New Roman';"><strong> </strong></td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Compensation </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: #cceeff; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 1,579,000 </font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>3,280,000</font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Property taxes </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 25,000 </font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>500,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Interest </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 248,000 </font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>235,000</font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Deferred rental income and deposits </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 637,000 </font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>598,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Lease expense </font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 1,028,000 </font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>1,458,000</font></td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 10.0pt;"> Lemon supplier payables </font></p>
</td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> - </font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>624,000</font></td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: #cceeff; padding: 0px;" width="100%">
<p class="MsoNormal" style="margin-top: 0pt; margin-bottom: 0pt;"><font style="font-size: 13.3333330154419px;">Capital expenditures and other</font></p>
</td>
<td style="background: #cceeff; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; border-bottom: #000000 1pt solid !important; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 1,102,000 </font></td>
<td style="background: #cceeff; padding: 0px; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: #cceeff; border-bottom: #000000 1pt solid !important; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>844,000</font></td>
<td style="background: #cceeff; padding: 0px; border-bottom: #000000 1pt solid !important; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
<tr>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; font-family: 'Times New Roman';"> </td>
<td style="background: white; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; border-bottom: #000000 2.80pt double !important; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font> 4,619,000 </font></td>
<td style="background: white; padding: 0px; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="background: white; border-bottom: #000000 2.80pt double !important; padding: 0px; font-size: 10.0pt; text-align: left; vertical-align: bottom; padding-right: 10px; white-space: nowrap; font-family: 'Times New Roman';">$</td>
<td style="background: white; border-bottom: #000000 2.80pt double !important; padding: 0px; text-align: right; font-family: 'times new roman'; font-size: 10.0pt; vertical-align: bottom; white-space: nowrap;"><font>7,539,000</font></td>
<td style="background: white; padding: 0px; border-bottom: #000000 2.80pt double !important; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
</tr>
</table>
</div>
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">12. Basic and Diluted Net Income per Share</font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10.0pt; font-family: 'Times New Roman';">Basic net income per common share is calculated using the weighted-average number of common shares outstanding during the period without consideration of the dilutive effect of conversion of preferred stock. Diluted net income per common share is calculated using the weighted-average number of common shares outstanding during the period plus the dilutive effect of conversion of preferred stock. The Series B and Series B-2 convertible preferred shares were excluded from the computation of diluted net income per common share for the three and six months ended April 30, 2015 and 2014 because such shares were anti-dilutive.</font></p>
</div>
7810
6000
1071000
367000
727000
253000
657000
216000
34721
50000
27091
59000
42085
60000
169000
10907
275000
15077
13587
325000
303000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<div style="display: block;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><br/></p>
<div>
<div class="CursorPointer" align="center">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; margin-left: 0.100000001490116px; margin-right: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;">
<p style="margin: 0px;">Performance</p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center;" align="left" colspan="3">Shares</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="5">
<p style="margin: 0px;"><strong>Three  Months Ended</strong></p>
<p style="margin: 0px;"><font><strong>April 30,</strong> </font></p>
</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="5">
<p style="margin: 0px;"><strong>Six Months Ended</strong><br/></p>
<p style="margin: 0px;"><strong>April 30,</strong></p>
</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;">
<p style="margin: 0px;">Year<br/></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="3">
<p style="margin: 0px; text-align: center;">Granted</p>
</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="2"><font>2015</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="2"><font>2014</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="2">2015</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="2">2014</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">2012</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>34,721</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>-</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>50,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>33,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>100,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;">2013</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>27,091</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>59,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>59,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>118,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>118,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">2014</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>42,085</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>88,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>60,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>176,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>120,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;">2015</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>-</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font>1,000</font></td>
<td align="left"><br/></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font>-</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font>65,000</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font>-</font></td>
<td align="left"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="right"><font>148,000</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="right"><font>169,000</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="right"><font>392,000</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="right"><font>338,000</font></td>
<td align="left"></td>
</tr>
</table>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
</div>
</div>
2015
Q2
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';">17. Stock-based Compensation</font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"> </font></b><font style="font-size: 10.0pt; font-family: 'Times New Roman';"></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman';"><font style="font-size: 10pt;">As of April 30, 2015, there are <font>7,810</font> shares of common stock issued to employees in connection with a discontinued stock option plan. Such shares are subject to repurchase by the Company and constitute a liability due to the repurchase right. The repurchase obligation of $<font>6,000</font> is included in other long-term liabilities in the Company's consolidated balance sheets at April 30, 2015 and October 31, 2014.</font></font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman';"> </font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">The Company has a stock-based compensation plan (the “Stock Plan”) that allows for the grant of common stock of the Company to members of management based on achievement of certain annual financial performance and other criteria. The number of shares granted is based on a percentage of the employee's base salary divided by the stock price on the grant date. Shares granted under the Stock Plan generally vest over a <font>three</font> year period</font></font>.</p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman';"> </font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';"></font></font><font style="font-size: 10pt;"><font style="font-family: 'Times New Roman';">During December 2014, <font>42,085</font></font> shares of common stock were granted to management under the Stock Plan for fiscal year 2014 performance, resulting in total compensation expense of approximately $<font>1,071,000</font>, with $<font>367,000</font> recognized in the year ended </font><font style="font-size: 10pt;">October 31, 2014</font><font style="font-size: 10pt;"> and the balance to be recognized over the next <font>two</font> years as the shares vest. During </font><font style="font-size: 10pt;">December 2013</font><font style="font-size: 10pt;">, <font>27,091</font> shares of common stock were granted to management under the Stock Plan for fiscal 2013 performance, resulting in a total compensation expense of approximately $<font>727,000</font>, with $<font>253,000</font> recognized in the year ended </font><font style="font-size: 10pt;">October 31, 2013</font><font style="font-size: 10pt;"> and the balance to be recognized over the next <font>two</font> years as the shares vest. During </font><font style="font-size: 10pt;">December 2012</font><font style="font-size: 10pt;">, <font>34,721</font> shares of common stock were granted to management under the Stock Plan for fiscal year 2012 performance, resulting in total compensation expense of approximately $<font>657,000</font>, with $<font>216,000</font> recognized in the year ended </font><font style="font-size: 10pt;">October 31, 2012</font><font style="font-size: 10pt;"> and the balance to be recognized over the next <font>two</font> years as the shares vest.</font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10pt;"></font><br/></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-size: 10pt;">Stock-based compensation expense is included in selling, general and administrative expense and is recognized over the performance and vesting periods as summarized below:</font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman';"> </font></p>
<div>
<div style="display: block;">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><br/></p>
<div>
<div class="CursorPointer" align="center">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 90%; margin-left: 0.100000001490116px; margin-right: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;">
<p style="margin: 0px;">Performance</p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center;" align="left" colspan="3">Shares</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="5">
<p style="margin: 0px;"><strong>Three  Months Ended</strong></p>
<p style="margin: 0px;"><font><strong>April 30,</strong> </font></p>
</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; width: 20px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="5">
<p style="margin: 0px;"><strong>Six Months Ended</strong><br/></p>
<p style="margin: 0px;"><strong>April 30,</strong></p>
</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;">
<p style="margin: 0px;">Year<br/></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="3">
<p style="margin: 0px; text-align: center;">Granted</p>
</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="2"><font>2015</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="2"><font>2014</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="2">2015</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; text-align: center; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left" colspan="2">2014</td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">2012</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>34,721</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>-</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>50,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>33,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>100,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;">2013</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>27,091</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>59,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>59,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>118,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>118,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">2014</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>42,085</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>88,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>60,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>176,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"><font>120,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;">2015</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="right"><font>-</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font>1,000</font></td>
<td align="left"><br/></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font>-</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font>65,000</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-width: 1pt !important; border-bottom-style: solid !important; border-bottom-color: #000000 !important;" align="right"><font>-</font></td>
<td align="left"></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="right"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;" align="left"></td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px 5px; font-size: 10pt; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="right"><font>148,000</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="right"><font>169,000</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="right"><font>392,000</font></td>
<td align="left"></td>
<td style="font-family: 'times new roman'; padding: 0px 5px 0px 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="left">$</td>
<td style="font-family: 'times new roman'; padding: 0px; font-size: 10pt; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;" align="right"><font>338,000</font></td>
<td align="left"></td>
</tr>
</table>
</div>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
</div>
</div>
<p style="margin: 0in; margin-bottom: .0001pt; font-family: 'times new roman';"> <br/></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">During December 2014 and January 2015, members of management exchanged <font>10,907</font> shares of common stock with a total market price value of $<font>275,000</font> at the date of the exchanges, for the payment of payroll taxes associated with the vesting of shares under the Stock Plan.</font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; text-indent: .5in; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;"> </font></p>
<p style="margin: 0in; margin-bottom: .0001pt; text-align: justify; font-family: 'times new roman';"><font style="font-family: 'Times New Roman'; font-size: 10pt;">During January 2015 and 2014, <font>15,077</font> and <font>13,587</font> shares, respectively, of common stock were granted to the Company's non-employee directors under the Company's stock-based compensation plans. The Company recognized $<font>325,000</font> and $<font>303,000</font> of stock-based compensation to non-employee directors during the six months ended April 30, 2015 and 2014, respectively.</font></p>
</div>
P3Y
P2Y
P2Y
P2Y
42085
27091
34721
Limoneira CO
0001342423
10-Q
2015-04-30
false
--10-31
LMNR
Accelerated Filer
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><font style="color: black;"><b>Preface</b></font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; text-indent: 0.5in;"><font style="color: black;"> </font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><font style="color: black;">The preparation of the unaudited interim consolidated financial statements requires management to make use of estimates and assumptions that affect the reported amount of assets and liabilities, revenue and expenses and certain financial statement disclosures. Actual results may differ from these estimates.</font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; text-indent: 24.5pt;"><font style="color: black;"> </font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><font style="color: black;">The unaudited interim consolidated financial statements for the three months and six months ended April 30, 2015 and 2014 and balance sheet as of April 30, 2015 included herein have not been audited by an independent registered public accounting firm, but in management's opinion, all adjustments (consisting of normal recurring adjustments) necessary to make a fair statement of the financial position at April 30, 2015 and the results of operations and the cash flows for the periods presented herein have been made. The results of operations for the three and six months ended April 30, 2015 are not necessarily indicative of the operating results expected for the full fiscal year.</font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><font style="color: black;"> </font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><font style="color: black;">The consolidated balance sheet at October 31, 2014 included herein has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by U.S. generally accepted accounting principles <font style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 13.3333330154419px; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: justify; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; display: inline !important; float: none;">(“GAAP”)</font> for complete financial statements.</font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify; text-indent: 24.5pt;"><font style="color: black;"> </font></p>
<p style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal; margin: 0pt 0px; text-align: justify;"><font style="color: black;">The unaudited interim consolidated financial statements included herein have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). Although we believe the disclosures made are adequate to make the information presented not misleading, certain information and footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules or regulations. These unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company's Form 10-K for the fiscal year ended October 31, 2014.</font></p>
</div>
26919000
23604000
1340000
1167000
18000
31000
28277000
24802000
20023000
17463000
759000
707000
239000
257000
3116000
3145000
24137000
21572000
4140000
3230000
-45000
19000
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-53000
21000
62000
-121000
28000
4019000
3258000
1456000
1145000
2563000
2113000
158000
65000
2405000
2048000
0.17
0.15
0.17
0.15
0.05
0.04
14124000
14050000
14124000
14050000
-149000
-117000
3186000
214000
161000
119000
3496000
450000
6059000
2563000
9300000
0.20
1075000
863000
4000
0
92000
43000
35000
572000
465000
174000
186000
2983000
3370000
4686000
5270000
3186000
355000
214000
613000
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117000
158000
357000
302000
4109000
1165000
67000
69000
526000
390000
1106000
2696000
305000
295000
53000
52000
138000
2241000
0
25000
51000
51000
184000
0
5000
-53000
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104000
0
0
125000
250000
34000
34000
213000
205000
282000
268000
-246000
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<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><b>15. Retirement Plans</b><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Limoneira Company Retirement Plan (the “Plan”) is a noncontributory, defined benefit, single employer pension plan, which provides retirement benefits for all eligible employees of the Company. Benefits paid by the Plan are calculated based on years of service, highest five-year average earnings, primary Social Security benefit and retirement age. Effective June 2004, the Company froze the Plan and no additional benefits accrued to participants subsequent to that date. The Plan is administered by City National Bank and Mercer Human Resource Consulting.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Plan is funded consistent with the funding requirements of federal law and regulations. There were funding contributions of $<font>125,000</font> and $<font>250,000</font> during the three month periods ended April 30, 2015 and 2014, respectively, and $<font>250,000</font> and $<font>250,000</font> during the six month periods ended April 30, 2015 and 2014, respectively. </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"> </p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The net periodic pension costs for the Plan for the three months ended April 30 were as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>2015</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2"><strong>2014</strong><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; width: 60%;">Administrative expenses</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 3%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 5%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>34,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 5%;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 5%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>34,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 2%;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Interest cost</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>213,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>205,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Expected return on plan assets</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(282,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">)</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(268,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Recognized actuarial loss</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>246,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>195,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Net periodic benefit cost</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>211,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>166,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The net periodic pension costs for the Plan for the six months ended April 30 were as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><b> </b></p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>2015</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2"><strong>2014</strong><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #ffffff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: rgb(255, 255, 255);"> </td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: rgb(255, 255, 255);"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: rgb(255, 255, 255);"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: rgb(255, 255, 255);"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 60%; background-color: rgb(204, 238, 255);">Administrative expenses</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 3%; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 5%; background-color: rgb(204, 238, 255);">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: rgb(204, 238, 255);"><font>68,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 5%; background-color: rgb(204, 238, 255);"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 5%; background-color: rgb(204, 238, 255);">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: rgb(204, 238, 255);"><font>68,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 2%; background-color: rgb(204, 238, 255);"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Interest cost</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>426,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>410,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Expected return on plan assets</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>(564,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">)</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>(536,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">)</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Recognized actuarial loss</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>492,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>390,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Net periodic pension cost</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>422,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>332,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
</div>
</div>
19230000
639000
226000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">The net periodic pension costs for the Plan for the three months ended April 30 were as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>2015</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2"><strong>2014</strong><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; width: 60%;">Administrative expenses</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 3%;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 5%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>34,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 5%;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 5%;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%;"><font>34,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 2%;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Interest cost</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>213,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>205,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Expected return on plan assets</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(282,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">)</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(268,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">)</td>
</tr>
<tr style="vertical-align: bottom; background-color: white;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Recognized actuarial loss</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>246,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>195,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Net periodic benefit cost</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>211,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>166,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The net periodic pension costs for the Plan for the six months ended April 30 were as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><b> </b></p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 100%;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>2015</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2"><strong>2014</strong><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #ffffff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: rgb(255, 255, 255);"> </td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: rgb(255, 255, 255);"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: rgb(255, 255, 255);"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: rgb(255, 255, 255);"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: rgb(255, 255, 255);"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; width: 60%; background-color: rgb(204, 238, 255);">Administrative expenses</td>
<td style="font-family: 'times new roman'; padding: 0px; width: 3%; background-color: rgb(204, 238, 255);"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 5%; background-color: rgb(204, 238, 255);">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: rgb(204, 238, 255);"><font>68,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 5%; background-color: rgb(204, 238, 255);"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; width: 5%; background-color: rgb(204, 238, 255);">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; width: 10%; background-color: rgb(204, 238, 255);"><font>68,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; width: 2%; background-color: rgb(204, 238, 255);"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Interest cost</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>426,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>410,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Expected return on plan assets</td>
<td style="font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>(564,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">)</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>(536,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">)</td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px;">Recognized actuarial loss</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>492,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>390,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Net periodic pension cost</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>422,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>332,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
</div>
33000
100000
59000
118000
118000
88000
176000
120000
1000
65000
148000
392000
338000
26919000
1340000
18000
3062000
23157000
793000
120000
13000
54000
980000
6896000
581000
-221000
-3116000
23604000
1167000
31000
16781000
606000
239000
3101000
20727000
682000
101000
18000
44000
845000
6141000
460000
-226000
-3145000
18828000
18134000
4109000
1165000
2578000
3434000
1404000
871000
653000
600000
466000
483000
221000
84000
53802000
2458000
28000
44253000
1307000
459000
6677000
52696000
1584000
257000
22000
106000
7965000
894000
-453000
-6783000
48308000
2301000
75000
39592000
1232000
565000
6596000
47985000
1333000
203000
36000
90000
7383000
866000
-526000
-6686000
43526000
39064000
4115000
1173000
4034000
5320000
2127000
2751000
1284000
1215000
933000
973000
241000
113000
12331000
4000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><b>18. Segment Information</b><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The Company operates in <font>three</font> reportable operating segments: agribusiness, rental operations, and real estate development. The reportable operating segments of the Company are strategic business units with different products and services, distribution processes and customer bases. The agribusiness segment includes farming and citrus packing operations. The rental operations segment includes residential and commercial rental operations, leased land, and organic recycling. The real estate development segment includes real estate development operations. No asset information is provided for reportable segments as these specified amounts are not included in the measure of segment profit or loss reviewed by the company's chief operating decision maker. The Company measures operating performance, including revenues and earnings, of its operating segments and allocates resources based on its evaluation. The Company does not allocate selling, general and administrative expense, other income (expense), interest expense and income tax expense, or specifically identify them to its operating segments.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in;"> </p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Segment information for the three months ended April 30, 2015:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; margin-left: 0.100000001490116px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Agribusiness</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Rental</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Operations</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Real Estate</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Development</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Corporate and</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Other</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Total</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #ffffff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>26,919,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,340,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>18,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font>–</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>28,277,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Costs and expenses</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>19,230,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>639,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>226,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 3,062,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 23,157,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; vertical-align: middle; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Depreciation and amortization</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>793,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>120,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>13,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font> 54,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font> 980,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Operating income (loss)</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font>6,896,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font>581,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font>(221,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font> (3,116,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font> 4,140,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Segment information for the three months ended April 30, 2014:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; margin-left: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Agribusiness</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Rental</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Operations</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Real Estate</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Development</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Corporate and</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Other</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Total</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>23,604,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,167,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>31,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font>–</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>24,802,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Costs and expenses</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>16,781,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>606,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>239,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>3,101,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>20,727,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Depreciation and amortization</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>682,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>101,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>18,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>44,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>845,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Operating income (loss)</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>6,141,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>460,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(226,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(3,145,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>3,230,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following table sets forth revenues by category, by segment for the three months ended:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer" align="center">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; margin-left: 0.100000001490116px; margin-right: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><strong>April 30,<br/> 2015</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><strong>April 30,<br/> 2014</strong><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Lemons</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>18,828,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>18,134,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Avocados</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>4,109,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,165,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Navel and Valencia oranges</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,578,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>3,434,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Specialty citrus and other crops</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>1,404,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>871,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Agribusiness revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>26,919,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>23,604,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Rental operations</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>653,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>600,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Leased land</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>466,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>483,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Organic recycling and other</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>221,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>84,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Rental operations revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,340,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,167,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Real estate development revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>18,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>31,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Total revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>28,277,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>24,802,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><br/></p>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Segment information for the six months ended April 30, 2015</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; margin-left: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Agribusiness</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Rental</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Operations</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Real Estate</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Development</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Corporate and</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Other</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Total</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>53,802,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,458,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>28,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font>–</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>56,288,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Costs and expenses</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>44,253,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,307,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>459,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 6,677,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 52,696,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; vertical-align: middle; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Depreciation and amortization</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>1,584,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>257,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>22,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font> 106,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font> 1,969,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Operating income (loss)</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>7,965,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>894,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(453,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> (6,783,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 1,623,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Segment information for the six months ended April 30, 2014:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; margin-left: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Agribusiness</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Rental</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Operations</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Real Estate</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Development</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Corporate and</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Other</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Total</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><br/></td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>48,308,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,301,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>75,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font>–</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>50,684,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Costs and expenses</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>39,592,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,232,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>565,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>6,596,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>47,985,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; vertical-align: middle; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Depreciation and amortization</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>1,333,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>203,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>36,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>90,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>1,662,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Operating income (loss)</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>7,383,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>866,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(526,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(6,686,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,037,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following table sets forth revenues by category, by segment for the six months ended:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer" align="center">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; margin-left: 0.100000001490116px; margin-right: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><strong>April 30,<br/> 2015</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><strong>April 30,<br/> 2014</strong><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; padding: 0px;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Lemons</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>43,526,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>39,064,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Avocados</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>4,115,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,173,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Navel and Valencia oranges</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>4,034,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>5,320,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Specialty citrus and other crops</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,127,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,751,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Agribusiness revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>53,802,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>48,308,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Rental operations</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,284,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,215,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Leased land</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>933,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>973,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Organic recycling and other</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>241,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>113,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Rental operations revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,458,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,301,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Real estate development revenues</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>28,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>75,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Total revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>56,288,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>50,684,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><b> </b></p>
</div>
</div>
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Segment information for the three months ended April 30, 2015:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; margin-left: 0.100000001490116px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Agribusiness</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Rental</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Operations</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Real Estate</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Development</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Corporate and</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Other</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Total</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom; background-color: #ffffff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #ffffff;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #ffffff;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>26,919,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,340,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>18,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font>–</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>28,277,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Costs and expenses</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>19,230,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>639,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>226,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 3,062,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 23,157,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; vertical-align: middle; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Depreciation and amortization</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>793,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>120,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>13,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font> 54,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font> 980,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Operating income (loss)</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font>6,896,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font>581,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font>(221,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font> (3,116,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important;"><font> 4,140,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Segment information for the three months ended April 30, 2014:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; margin-left: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Agribusiness</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Rental</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Operations</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Real Estate</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Development</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Corporate and</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Other</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Total</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>23,604,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,167,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>31,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font>–</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>24,802,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Costs and expenses</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>16,781,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>606,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>239,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>3,101,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>20,727,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Depreciation and amortization</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>682,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>101,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>18,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>44,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>845,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Operating income (loss)</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>6,141,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>460,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(226,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(3,145,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>3,230,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following table sets forth revenues by category, by segment for the three months ended:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer" align="center">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; margin-left: 0.100000001490116px; margin-right: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><strong>April 30,<br/> 2015</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><strong>April 30,<br/> 2014</strong><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Lemons</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>18,828,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>18,134,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Avocados</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>4,109,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,165,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Navel and Valencia oranges</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,578,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>3,434,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Specialty citrus and other crops</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>1,404,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>871,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Agribusiness revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>26,919,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>23,604,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Rental operations</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>653,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>600,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Leased land</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>466,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>483,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Organic recycling and other</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>221,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>84,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Rental operations revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,340,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,167,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Real estate development revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>18,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><font>31,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Total revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>28,277,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>24,802,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;"><br/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Segment information for the six months ended April 30, 2015</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; margin-left: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Agribusiness</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Rental</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Operations</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Real Estate</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Development</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Corporate and</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Other</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Total</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"> </td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>53,802,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,458,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>28,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font>–</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>56,288,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Costs and expenses</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>44,253,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,307,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>459,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 6,677,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 52,696,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; vertical-align: middle; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Depreciation and amortization</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>1,584,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>257,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>22,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font> 106,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font> 1,969,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Operating income (loss)</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>7,965,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>894,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(453,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> (6,783,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> 1,623,000 </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">Segment information for the six months ended April 30, 2014:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 95%; margin-left: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Agribusiness</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Rental</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Operations</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Real Estate</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Development</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td style="text-align: center; border-bottom: #000000 1pt solid !important; padding: 0px;" colspan="2" nowrap="nowrap">
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Corporate and</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center;"><b>Other</b></p>
</td>
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"> </td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px;"><strong>Total</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"><br/></td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Revenues</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>48,308,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>2,301,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>75,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"><font>–</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>50,684,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Costs and expenses</td>
<td style="font-family: 'Times New Roman';"></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>39,592,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,232,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>565,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>6,596,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>47,985,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; vertical-align: middle; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Depreciation and amortization</td>
<td style="font-family: 'times new roman'; padding: 0px; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>1,333,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>203,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>36,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>90,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>1,662,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Operating income (loss)</td>
<td style="font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>7,383,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>866,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(526,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>(6,686,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;">)</td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; padding-right: 10px; white-space: nowrap;">$</td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 2.80pt double !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,037,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">The following table sets forth revenues by category, by segment for the six months ended:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"> </p>
<div class="CursorPointer" align="center">
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; font-style: normal; font-variant: normal; font-weight: normal; font-stretch: normal; font-size: 10pt; line-height: normal; font-family: 'times new roman', times, serif; width: 85%; margin-left: 0.100000001490116px; margin-right: 0.1px;">
<tr style="vertical-align: bottom;">
<td style="text-align: center; font-family: 'times new roman'; padding: 0px;" nowrap="nowrap"></td>
<td colspan="2" nowrap="nowrap" style="text-align: center; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;"><strong>April 30,<br/> 2015</strong></td>
<td nowrap="nowrap" style="text-align: center; font-family: 'times new roman'; padding: 0px;"><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; padding: 0px; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important;" colspan="2"><strong>April 30,<br/> 2014</strong><strong> </strong></td>
<td nowrap="nowrap" style="text-align: center; padding: 0px;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font> </font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Lemons</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>43,526,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>39,064,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Avocados</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>4,115,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>1,173,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Navel and Valencia oranges</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>4,034,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>5,320,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Specialty citrus and other crops</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,127,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,751,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Agribusiness revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>53,802,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>48,308,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="vertical-align: top; text-align: left; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Rental operations</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,284,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; background-color: #cceeff;"><font>1,215,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Leased land</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>933,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>973,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Organic recycling and other</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>241,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 1pt !important; border-bottom-style: solid !important; background-color: #cceeff;"><font>113,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Rental operations revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,458,000</font></td>
<td style="white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman';"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>2,301,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: left; font-family: 'times new roman'; padding: 0px; vertical-align: top; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="vertical-align: top; text-align: left; white-space: nowrap; padding-right: 5px; padding-left: 5px; font-family: 'Times New Roman'; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; vertical-align: top; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
<tr style="vertical-align: bottom;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px;">Real estate development revenues</td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>28,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: left; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; white-space: nowrap; padding-right: 5px; padding-left: 5px;"> </td>
<td style="text-align: right; font-family: 'times new roman'; border-bottom: #000000 1pt solid !important; padding: 0px; vertical-align: bottom; white-space: nowrap;"><font>75,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap;"> </td>
</tr>
<tr style="vertical-align: bottom; background-color: #cceeff;">
<td style="text-align: justify; font-family: 'times new roman'; padding: 0px; background-color: #cceeff;">Total revenues</td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>56,288,000</font></td>
<td style="font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 10px 0px 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;">$</td>
<td style="text-align: right; font-family: 'times new roman'; padding: 0px; vertical-align: bottom; white-space: nowrap; border-bottom-color: #000000 !important; border-bottom-width: 2.8pt !important; border-bottom-style: double !important; background-color: #cceeff;"><font>50,684,000</font></td>
<td style="text-align: left; font-family: 'times new roman'; padding: 0px 5px; white-space: nowrap; background-color: #cceeff;"> </td>
</tr>
</table>
</div>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center;"><b> </b></p>
</div>
3
52
33
2750000
967000
<div id='EdgarSAA123457890000' style="font-family : 'Times New Roman';">
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><b>19. Sale of Property</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;"><b> </b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify;">In April 2015, the Company entered into an agreement<b> </b>to<b> </b>sell its Wilson Ranch, which is comprised of <font>52</font> acres of land with <font>33</font> acres of avocado orchards located near the City of Fillmore, in Ventura County, California. The sales price is approximately $<font>2,750,000</font> and the gain on the sale is expected to be approximately $<font>967,000</font>. The property is currently in escrow and is expected to close in July 2015.</p>
</div>
103000
121000
12331000