Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information (Tables)

v3.20.2
Business Segment Information (Tables)
6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Summary of Segment Information

The following table sets forth certain segment information for the dates indicated:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Continuing Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

$

46,672,618

 

 

$

39,204,368

 

 

$

89,738,010

 

 

$

80,591,687

 

Real estate development

 

 

1,111,547

 

 

 

5,175,851

 

 

 

2,885,663

 

 

 

11,268,788

 

Total revenue

 

$

47,784,165

 

 

$

44,380,219

 

 

$

92,623,673

 

 

$

91,860,475

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

$

41,523,044

 

 

$

36,735,008

 

 

$

81,886,707

 

 

$

75,088,621

 

Real estate development

 

 

995,886

 

 

 

4,562,333

 

 

 

2,507,432

 

 

 

9,451,126

 

Corporate

 

 

1,456,831

 

 

 

1,433,307

 

 

 

2,821,432

 

 

 

2,756,117

 

Total operating expenses

 

$

43,975,761

 

 

$

42,730,648

 

 

$

87,215,571

 

 

$

87,295,864

 

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

$

5,149,574

 

 

$

2,469,360

 

 

$

7,851,303

 

 

$

5,503,066

 

Real estate development

 

 

115,661

 

 

 

613,518

 

 

 

378,231

 

 

 

1,817,662

 

Corporate

 

 

(1,456,831

)

 

 

(1,433,307

)

 

 

(2,821,432

)

 

 

(2,756,117

)

Total operating income

 

$

3,808,404

 

 

$

1,649,571

 

 

$

5,408,102

 

 

$

4,564,611

 

Other (expenses) income, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

$

(183,802

)

 

$

(392,335

)

 

$

(440,130

)

 

$

(716,648

)

Real estate development

 

 

 

 

 

(647

)

 

 

 

 

 

(5,499

)

Corporate

 

 

(23,920

)

 

 

44,890

 

 

 

6,771

 

 

 

65,900

 

Total other expenses, net

 

$

(207,722

)

 

$

(348,092

)

 

$

(433,359

)

 

$

(656,247

)

Net income (loss) before taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

$

4,965,772

 

 

$

2,077,025

 

 

$

7,411,173

 

 

$

4,786,418

 

Real estate development

 

 

115,661

 

 

 

612,871

 

 

 

378,231

 

 

 

1,812,163

 

Corporate

 

 

(1,480,751

)

 

 

(1,388,417

)

 

 

(2,814,661

)

 

 

(2,690,217

)

Total net income before taxes

 

$

3,600,682

 

 

$

1,301,479

 

 

$

4,974,743

 

 

$

3,908,364

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

$

3,929,296

 

 

$

1,796,690

 

 

$

8,903,319

 

 

$

13,438,986

 

Real estate development

 

 

182

 

 

 

59,048

 

 

 

321

 

 

 

59,048

 

Corporate

 

 

33,818

 

 

 

113,854

 

 

 

81,600

 

 

 

837,738

 

Total

 

$

3,963,296

 

 

$

1,969,592

 

 

$

8,985,240

 

 

$

14,335,772

 

Depreciation and Amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

$

2,964,215

 

 

$

2,708,308

 

 

$

5,820,421

 

 

$

5,260,544

 

Real estate development

 

 

8,312

 

 

 

6,091

 

 

 

16,601

 

 

 

11,765

 

Corporate

 

 

28,976

 

 

 

24,084

 

 

 

57,292

 

 

 

47,253

 

Total

 

$

3,001,503

 

 

$

2,738,483

 

 

$

5,894,314

 

 

$

5,319,562

 

Summary of Assets by Segment

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

 

Assets

 

 

 

 

 

June 30, 2020

 

 

December 31, 2019

 

Electrical construction

 

 

 

 

 

$

131,739,480

 

 

$

111,064,071

 

Real estate development

 

 

 

 

 

 

6,003,674

 

 

 

7,578,440

 

Corporate

 

 

 

 

 

 

18,512,581

 

 

 

10,724,667

 

Total

 

 

 

 

 

$

156,255,735

 

 

$

129,367,178