INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS (Tables)

3 Months Ended

Jul. 31, 2021

INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

Summary of data relative to the industry segments in which the Company operated

The following tables set forth summarized data relative to the industry segments in which the Company operated for the periods indicated (in thousands):

	Land
	Development		Homebuilding		Corporate		Consolidated
Three months ended July 31, 2021 (a)
Revenues	$	8,461	$	1,950	$	96	$	10,507
Net income (loss)		1,807		178		(348)		1,637
Provision for income taxes		318		44		27		389
Interest income, net (b)		—		—		1		1
Depreciation		—		—		104		104
EBITDA (c)	$	2,125	$	222	$	(216)	$	2,131
Capital expenditures	$	—	$	1	$	—	$	1
Total assets as of July 31, 2021	$	86,590	$	2,566	$	11,947	$	101,103
Three months ended July 31, 2020 (a)
Revenues	$	3,856	$	—	$	350	$	4,206
Net income (loss)		706		(86)		(27)		593
Provision (benefit) for income taxes		14		(27)		159		146
Interest income, net (b)		2		—		4		6
Depreciation		5		—		124		129
EBITDA (c)	$	727	$	(113)	$	260	$	874
Capital expenditures	$	—	$	—	$	—	$	—
Total assets as of July 31, 2020	$	76,232	$	—	$	23,759	$	99,991

(a) Revenue and net income information for the land development business segment include amounts classified as home sale revenues, home sale cost of revenues and other revenues in the accompanying consolidated statements of operations. For example, revenues and cost of revenues in the land development business segment include an allocation of home sales revenues and home sales cost of revenues attributable to the market value of land transferred from the land development business segment to the homebuilding business segment. Revenue and net income information for the homebuilding business segment include amounts classified as other revenues in the accompanying consolidated statements of operations. Corporate is net of intercompany eliminations.

(b) Interest expense (income), net excludes inter-segment interest expense (income) that is eliminated in consolidation.

(c) The Company uses EBITDA (which the Company defines as income (loss) before net interest income, income taxes, depreciation and amortization, and non-cash impairment charges) in addition to net income (loss) as a key measure of profit or loss for segment performance and evaluation purposes.