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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
OPERATING ACTIVITIES    
Net income (loss) $ 8,039 $ (2,607)
Adjustments to reconcile net income (loss) to net cash provided by operating activies:    
Depreciation and amortization 1,861 1,130
Equity in earning (losses) of unconsolidated joint ventures, net 30 (13)
Non-cash retirement plan expense 130 400
Amortization of stock compensation expense 2,475 1,914
Gains on sale of easements (15,750)  
Deferred income taxes (162) (328)
Non-cash straight line (income) loss 71 77
Excess tax benefit of stock based compensation   (243)
Distribution of earnings from unconsolidated joint ventures   1,440
Changes in operating assets and liabilities:    
Receivables, inventories and other assets, net 3,691 537
Current liabilities, net 3,167 (1,569)
NET CASH PROVIDED BY OPERATING ACTIVITIES 3,552 738
INVESTING ACTIVITIES    
Maturities and sales of marketable securities 3,875 10,348
Funds invested in marketable securities (19,162) (7,001)
Property and equipment expenditures (5,760) (6,392)
Investment in long-term water assets   (118)
Proceeds from sale of easements 15,750  
Investment in unconsolidated joint ventures (1,389) (2,267)
Investment in pistachio processor (485)  
Other (140) (194)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES (7,311) (5,624)
FINANCING ACTIVITIES    
Borrowings of short-term debt   6,850
Repayments of short-term debt   (16,400)
Repayments of long-term debt (19) (17)
Proceeds from exercise of stock options 2,310 1,765
Taxes on vested stock grants (812) (354)
Net proceeds from rights offering   59,799
Excess tax benefit from stock-based compensation   243
NET CASH PROVIDED BY FINANCING ACTIVITIES 1,479 51,886
NET INCREASE(DECREASE) IN CASH AND CASH EQUIVALENTS (2,280) 47,000
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 22,027 683
CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 19,747 $ 47,683