Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION

v2.4.0.8
SEGMENT INFORMATION
 6 Months Ended
Feb. 28, 2014
Segment Information  
SEGMENT INFORMATION

NOTE 10 – SEGMENT INFORMATION

 

The Company operates primarily in two lines of business: (i) the wholesale water and wastewater business; and (ii) the agricultural farming business. The Company provides wholesale water and wastewater services to customers using water rights owned by the Company and develops infrastructure to divert, treat and distribute that water and collect, treat and reuse wastewater. The Company’s agricultural business consists of the Company leasing its Arkansas River Valley land and water to area farmers under cash leases or in certain cases crop share leases. The following tables show information by operating segment for the three and six months ended February 28, 2014 and 2013:

 

Three months ended February 28, 2014
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
Revenues   $ 415,300     $ 306,600     $ 14,000     $ 735,900  
Gross profit     251,600       285,900       14,000       551,500  
Depletion and depreciation     7,400       —       —       7,400  
Other significant noncash items:                                
Stock-based compensation     —       —       59,500       59,500  
TPF interest expense     403,000       —       —       403,000  
Segment assets     93,806,200       6,808,900       7,290,600       107,905,700  
Expenditures for segment assets     121,800       —       —       121,800  

  

Three months ended February 28, 2013
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
Revenues   $ 114,900     $ 305,200     $ 14,400     $ 434,500  
Gross profit     16,200       278,600       14,400       309,200  
Depletion and depreciation     54,300       —       —       54,300  
Other significant noncash items:                                
Stock-based compensation     —       —       12,500       12,500  
TPF interest expense     650,100       —       —       650,100  
Segment assets     96,254,200       3,586,900       10,481,100       110,322,200  
Expenditures for segment assets     12,100       —       —       12,100  

  

Six months ended February 28, 2014
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
Revenues   $ 759,500     $ 526,900     $ 28,000     $ 1,314,400  
Gross profit     436,100       485,500       28,000       949,600  
Depletion and depreciation     22,900       —       —       22,900  
Other significant noncash items:                                
Stock-based compensation     —       —       114,300       114,300  
TPF interest expense     1,060,200       —       —       1,060,200  
Segment assets     93,806,200       6,808,900       7,290,600       107,905,700  
Expenditures for segment assets     519,100       —       —       519,100  

 

Six months ended February 28, 2013  
                         
    Business segments              
    Wholesale                    
    water and                    
    wastewater     Agricultural     All Other     Total  
                         
Revenues   $ 172,200     $ 667,900     $ 32,800     $ 872,900  
Gross profit     21,000       621,800       32,800       675,600  
Depletion and depreciation     109,800       —       —       109,800  
Other significant noncash items:                                
Stock-based compensation     —       —       23,100       23,100  
TPF interest expense     1,544,800       —       —       1,544,800  
Segment assets     96,254,200       3,586,900       10,481,100       110,322,200  
Expenditures for segment assets     120,300       —       —       120,300