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Business Segment Information (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Summary of Segment Information

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

 

 

 

Three Months Ended June 30,

 

 

Six Months ended June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Continuing Operations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

39,204,368

 

 

 

36,195,767

 

 

 

80,591,687

 

 

 

70,327,686

 

Real estate development

 

 

5,175,851

 

 

 

1,311,477

 

 

 

11,268,788

 

 

 

1,618,254

 

Total revenue

 

$

44,380,219

 

 

$

37,507,244

 

 

$

91,860,475

 

 

$

71,945,940

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

36,735,008

 

 

 

31,632,967

 

 

 

75,088,621

 

 

 

60,720,891

 

Real estate development

 

 

4,562,333

 

 

 

1,079,459

 

 

 

9,451,126

 

 

 

1,510,493

 

Corporate

 

 

1,433,307

 

 

 

1,430,456

 

 

 

2,756,117

 

 

 

2,898,646

 

Total operating expenses

 

$

42,730,648

 

 

$

34,142,882

 

 

$

87,295,864

 

 

$

65,130,030

 

Operating income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

2,469,360

 

 

 

4,562,800

 

 

 

5,503,066

 

 

 

9,606,795

 

Real estate development

 

 

613,518

 

 

 

232,018

 

 

 

1,817,662

 

 

 

107,761

 

Corporate

 

 

(1,433,307

)

 

 

(1,430,456

)

 

 

(2,756,117

)

 

 

(2,898,646

)

Total operating income

 

$

1,649,571

 

 

$

3,364,362

 

 

$

4,564,611

 

 

$

6,815,910

 

Other (expenses) income, net

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

(392,335

)

 

 

(173,924

)

 

 

(716,648

)

 

 

(337,295

)

Real estate development

 

 

(647

)

 

 

(19,885

)

 

 

(5,499

)

 

 

(38,972

)

Corporate

 

 

44,890

 

 

 

18,452

 

 

 

65,900

 

 

 

33,175

 

Total other expenses, net

 

$

(348,092

)

 

$

(175,357

)

 

$

(656,247

)

 

$

(343,092

)

Net income (loss) before taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

2,077,025

 

 

 

4,388,876

 

 

 

4,786,418

 

 

 

9,269,500

 

Real estate development

 

 

612,871

 

 

 

212,133

 

 

 

1,812,163

 

 

 

68,789

 

Corporate

 

 

(1,388,417

)

 

 

(1,412,004

)

 

 

(2,690,217

)

 

 

(2,865,471

)

Total net income before taxes

 

$

1,301,479

 

 

$

3,189,005

 

 

$

3,908,364

 

 

$

6,472,818

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

1,796,690

 

 

 

4,142,856

 

 

 

13,438,986

 

 

 

7,530,320

 

Real estate development

 

 

59,048

 

 

 

38,483

 

 

 

59,048

 

 

 

41,559

 

Corporate

 

 

113,854

 

 

 

21,495

 

 

 

837,738

 

 

 

5,212

 

Total

 

$

1,969,592

 

 

$

4,202,834

 

 

$

14,335,772

 

 

$

7,577,091

 

Depreciation and Amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Electrical construction

 

 

2,708,308

 

 

 

1,972,540

 

 

 

5,260,544

 

 

 

3,831,005

 

Real estate development

 

 

6,091

 

 

 

4,969

 

 

 

11,765

 

 

 

9,317

 

Corporate

 

 

24,084

 

 

 

24,724

 

 

 

47,253

 

 

 

49,420

 

Total

 

$

2,738,483

 

 

$

2,002,233

 

 

$

5,319,562

 

 

$

3,889,742

 

Summary of Assets by Segment

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

 

Assets

 

 

 

 

 

June 30, 2019

 

 

December 31, 2018

 

Electrical construction

 

 

 

 

 

 

109,840,070

 

 

 

93,625,017

 

Real estate development

 

 

 

 

 

 

6,911,642

 

 

 

14,557,323

 

Corporate

 

 

 

 

 

 

9,631,139

 

 

 

4,366,135

 

Total

 

 

 

 

 

$

126,382,851

 

 

$

112,548,475