The Company’s segments are strategic business units that are managed separately because, while all segments derive their revenues from desalination-related activities, each segment sells different products and/or services, serves customers with distinctly different needs and generates different gross profit margins.

	Three Months Ended June 30, 2013
	Retail		Bulk		Services		Total
Revenues	$	6,179,597	$	10,162,572	$	227,211	$	16,569,380
Cost of revenues		2,870,175		7,047,346		254,338		10,171,859
Gross profit		3,309,422		3,115,226		(27,127)		6,397,521
General and administrative expenses		2,679,249		354,961		560,552		3,594,762
Income (loss) from operations		630,173		2,760,265		(587,679)		2,802,759
Other income, net								212,479
Consolidated net income								3,015,238
Income attributable to non-controlling interests								161,388
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	2,853,850

Depreciation and amortization expenses for the three months ended June 30, 2013 for the retail, bulk and services segments were $508,259, $767,609 and $73,181, respectively.

	Six Months Ended June 30, 2013
	Retail		Bulk		Services		Total
Revenues	$	12,574,609	$	20,019,262	$	530,706	$	33,124,577
Cost of revenues		5,704,927		14,234,759		566,863		20,506,549
Gross profit		6,869,682		5,784,503		(36,157)		12,618,028
General and administrative expenses		5,310,759		763,208		1,089,731		7,163,698
Income (loss) from operations		1,558,923		5,021,295		(1,125,888)		5,454,330
Other income, net								1,424,595
Consolidated net income								6,878,925
Income attributable to non-controlling interests								283,072
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	6,595,853

Depreciation and amortization expenses for the six months ended June 30, 2013 for the retail, bulk and services segments were $1,018,899, $1,532,125 and $146,363, respectively.

	As of June 30, 2013
	Retail		Bulk		Services		Total
Property plant and equipment, net	$	23,501,493	$	33,484,674	$	594,976	$	57,581,143
Construction in progress	$	3,531,949	$	19,678	$	52,251	$	3,603,878
Goodwill	$	1,170,511	$	2,328,526	$	-	$	3,499,037
Investment in land	$	-	$	-	$	12,025,566	$	12,025,566
Total assets	$	61,739,717	$	87,631,435	$	14,918,111	$	164,289,263

	Three Months Ended June 30, 2012
	Retail		Bulk		Services		Total
Revenues	$	5,869,254	$	10,212,669	$	148,856	$	16,230,779
Cost of revenues		2,885,657		7,868,487		71,225		10,825,369
Gross profit		2,983,597		2,344,182		77,631		5,405,410
General and administrative expenses		2,686,295		309,364		446,624		3,442,283
Income (loss) from operations		297,302		2,034,818		(368,993)		1,963,127
Other income, net								117,500
Consolidated net income								2,080,627
Income attributable to non-controlling interests								123,135
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	1,957,492

Depreciation and amortization expenses for the three months ended June 30, 2012 for the retail, bulk and services segments were $521,786, $1,285,167 and $73,279, respectively.

	Six Months Ended June 30, 2012
	Retail		Bulk		Services		Total
Revenues	$	12,435,382	$	20,281,886	$	242,238	$	32,959,506
Cost of revenues		5,928,405		15,523,939		153,903		21,606,247
Gross profit		6,506,977		4,757,947		88,335		11,353,259
General and administrative expenses		5,482,462		636,764		837,742		6,956,968
Income (loss) from operations		1,024,515		4,121,183		(749,407)		4,396,291
Other income, net								117,368
Consolidated net income								4,513,659
Income attributable to non-controlling interests								213,501
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	4,300,158

Depreciation and amortization expenses for the six months ended June 30, 2012 for the retail, bulk and services segments were $1,052,225, $2,554,092 and $134,058, respectively.

	As of December 31, 2012
	Retail		Bulk		Services		Total
Property, plant and equipment, net	$	24,021,301	$	34,308,805	$	663,300	$	58,993,406
Construction in progress	$	2,342,248	$	270,552	$	-	$	2,612,800
Goodwill	$	1,170,511	$	2,328,526	$	-	$	3,499,037
Total assets	$	63,649,696	$	83,177,550	$	3,621,840	$	150,449,086