Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information (Tables)

v3.19.3
Business Segment Information (Tables)
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
Summary of Segment Information

The following table sets forth certain segment information for the three and nine months ended September 30 as indicated:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Continuing Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

43,182,197

 

 

 

29,514,965

 

 

 

123,773,883

 

 

 

99,842,651

 

Real estate development

 

 

1,550,684

 

 

 

1,777

 

 

 

12,819,473

 

 

 

1,620,031

 

Total revenue

 

$

44,732,881

 

 

$

29,516,742

 

 

$

136,593,356

 

 

$

101,462,682

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

39,962,922

 

 

 

28,642,203

 

 

 

115,051,543

 

 

 

89,363,095

 

Real estate development

 

 

1,389,541

 

 

 

192,592

 

 

 

10,840,667

 

 

 

1,703,085

 

Corporate

 

 

1,314,269

 

 

 

786,897

 

 

 

4,070,387

 

 

 

3,685,543

 

Total operating expenses

 

$

42,666,732

 

 

$

29,621,692

 

 

$

129,962,597

 

 

$

94,751,723

 

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

3,219,275

 

 

 

872,762

 

 

 

8,722,340

 

 

 

10,479,556

 

Real estate development

 

 

161,143

 

 

 

(190,815

)

 

 

1,978,806

 

 

 

(83,054

)

Corporate

 

 

(1,314,269

)

 

 

(786,897

)

 

 

(4,070,387

)

 

 

(3,685,543

)

Total operating income (loss)

 

$

2,066,149

 

 

$

(104,950

)

 

$

6,630,759

 

 

$

6,710,959

 

Other (expenses) income, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

(349,269

)

 

 

(171,967

)

 

 

(1,065,917

)

 

 

(509,261

)

Real estate development

 

 

 

 

 

(19,927

)

 

 

(5,499

)

 

 

(58,899

)

Corporate

 

 

37,535

 

 

 

21,839

 

 

 

103,436

 

 

 

55,014

 

Total other expenses, net

 

$

(311,734

)

 

$

(170,055

)

 

$

(967,980

)

 

$

(513,146

)

Net income (loss) before taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

2,870,006

 

 

 

700,795

 

 

 

7,656,423

 

 

 

9,970,295

 

Real estate development

 

 

161,143

 

 

 

(210,742

)

 

 

1,973,307

 

 

 

(141,953

)

Corporate

 

 

(1,276,734

)

 

 

(765,058

)

 

 

(3,966,951

)

 

 

(3,630,529

)

Total net income (loss) before taxes

 

$

1,754,415

 

 

$

(275,005

)

 

$

5,662,779

 

 

$

6,197,813

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

1,779,984

 

 

 

7,409,557

 

 

 

15,218,970

 

 

 

14,918,054

 

Real estate development

 

 

 

 

 

1,499

 

 

 

59,048

 

 

 

43,059

 

Corporate

 

 

41,137

 

 

 

110,726

 

 

 

878,875

 

 

 

137,759

 

Total

 

$

1,821,121

 

 

$

7,521,782

 

 

$

16,156,893

 

 

$

15,098,872

 

Depreciation and Amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

2,695,012

 

 

 

2,110,792

 

 

 

7,955,556

 

 

 

5,941,797

 

Real estate development

 

 

6,926

 

 

 

6,170

 

 

 

18,690

 

 

 

15,487

 

Corporate

 

 

27,050

 

 

 

24,722

 

 

 

74,303

 

 

 

74,142

 

Total

 

$

2,728,988

 

 

$

2,141,684

 

 

$

8,048,549

 

 

$

6,031,426

 

Summary of Assets by Segment

The following table sets forth assets by segment as of the dates indicated:

 

Assets

 

 

 

 

 

September 30, 2019

 

 

December 31, 2018

 

Electrical construction

 

 

 

 

 

 

108,852,454

 

 

 

93,625,017

 

Real estate development

 

 

 

 

 

 

6,643,057

 

 

 

14,557,323

 

Corporate

 

 

 

 

 

 

12,839,867

 

 

 

4,366,135

 

Total

 

 

 

 

 

$

128,335,378

 

 

$

112,548,475