Income Statement

v3.24.3

CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	12 Months Ended
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands	Aug. 31, 2024	Aug. 31, 2023
Revenues:
Total revenues	$ 28,747	$ 14,586
Cost of revenues:
Depletion and depreciation	1,504	1,658
Other	882	491
Total cost of revenues	8,988	6,546
General and administrative expenses	6,921	5,470
Depreciation	596	498
Operating income	12,242	2,072
Other income (expense):
Interest income - Investments	1,108	1,023
Oil and gas royalty income, net	795	267
Oil and gas lease income, net	69	75
Interest expense, net	(439)	(206)
Income from operations before income taxes	15,632	6,220
Income tax expense	(4,019)	(1,521)
Net income	$ 11,613	$ 4,699
Earnings per common share - basic and diluted
Basic (in dollars per share)	$ 0.48	$ 0.20
Diluted (in dollars per share)	$ 0.48	$ 0.19
Weighted average common shares outstanding:
Weighted average common shares outstanding, Basic (in shares)	24,083,001	24,031,068
Weighted average common shares outstanding, Diluted (in shares)	24,140,946	24,106,067
Related Party
Other income (expense):
Other, net	$ 1,729	$ 1,481
Nonrelated Party
Other income (expense):
Other, net	128	1,508
Water service operations
Cost of revenues:
Expenses	2,204	1,757
Metered Water Usage - Municipal Customers
Revenues:
Total revenues	788	504
Metered Water Usage-Commercial Customers
Revenues:
Total revenues	6,095	3,059
Wastewater service operations
Cost of revenues:
Expenses	691	675
Wastewater treatment fees
Revenues:
Total revenues	343	302
Water and wastewater tap fees
Revenues:
Total revenues	3,384	2,991
Lot sales
Revenues:
Total revenues	15,998	6,815
Project management fees
Revenues:
Total revenues	707	283
Single-family rentals
Revenues:
Total revenues	481	165
Cost of revenues:
Expenses	188	73
Special facility projects and other
Revenues:
Total revenues	951	467
Land development construction costs
Cost of revenues:
Expenses	3,037	1,606
Project management costs
Cost of revenues:
Expenses	$ 482	$ 286

- Definition

Amount of expense for allocation of cost of tangible and intangible assets over their useful lives, and reduction in quantity of natural resource due to consumption directly used in production of good and rendering of service.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

Source