Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Income

v3.20.2
Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenue        
Total revenue $ 47,784,165 $ 44,380,219 $ 92,623,673 $ 91,860,475
Costs and expenses        
Selling, general and administrative 2,344,358 2,342,561 4,947,564 4,870,883
Depreciation and amortization 3,001,503 2,738,483 5,894,314 5,319,562
(Gain) loss on sale of property and equipment (39,711) (6,216) 28,747 (32,067)
Total costs and expenses 43,975,761 42,730,648 87,215,571 87,295,864
Total operating income 3,808,404 1,649,571 5,408,102 4,564,611
Other income (expense), net        
Interest income 6,273 31,218 29,694 42,770
Interest expense, net of amount capitalized (260,206) (411,562) (546,057) (763,553)
Other income, net 46,211 32,252 83,004 64,536
Total other expense, net (207,722) (348,092) (433,359) (656,247)
Income before income taxes 3,600,682 1,301,479 4,974,743 3,908,364
Income tax provision 1,139,216 482,357 1,033,302 1,309,621
Net income $ 2,461,466 $ 819,122 $ 3,941,441 $ 2,598,743
Net income per share of common stock - basic and diluted $ 0.10 $ 0.03 $ 0.16 $ 0.11
Weighted average shares outstanding - basic and diluted 24,522,534 24,522,534 24,522,534 24,524,339
Electrical construction        
Revenue        
Total revenue $ 46,672,618 $ 39,204,368 $ 89,738,010 $ 80,591,687
Costs and expenses        
Cost of goods and service sold 37,929,501 33,516,400 74,401,761 68,808,411
Real estate development        
Revenue        
Total revenue 1,111,547 5,175,851 2,885,663 11,268,788
Costs and expenses        
Cost of goods and service sold $ 740,110 $ 4,139,420 $ 1,943,185 $ 8,329,075