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, 2015
	Retail		Bulk		Services		Total
Revenues	$	6,152,185	$	8,187,273	$	146,211	$	14,485,669
Cost of revenues		2,771,598		5,633,381		212,748		8,617,727
Gross profit (loss)		3,380,587		2,553,892		(66,537)		5,867,942
General and administrative expenses		2,636,525		412,465		515,232		3,564,222
Income (loss) from operations	$	744,062	$	2,141,427	$	(581,769)		2,303,720
Other income, net								28,195
Net income								2,331,915
Income attributable to non-controlling interests								103,815
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	2,228,100

Depreciation and amortization expenses for the three months ended June 30, 2015 for the retail, bulk and services segments were $598,079, $792,241 and $22,474, respectively.

	Three Months Ended June 30, 2014
	Retail		Bulk		Services		Total
Revenues	$	6,499,257	$	9,966,194	$	466,381	$	16,931,832
Cost of revenues		3,119,483		6,895,914		546,389		10,561,786
Gross profit (loss)		3,379,774		3,070,280		(80,008)		6,370,046
General and administrative expenses		2,843,293		325,403		612,465		3,781,161
Income (loss) from operations	$	536,481	$	2,744,877	$	(692,473)		2,588,885
Other income, net								317,653
Consolidated net income								2,906,538
Income attributable to non-controlling interests								146,845
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	2,759,693

Depreciation and amortization expenses for the three months ended June 30, 2014 for the retail, bulk and services segments were $598,223, $780,510 and $22,474, respectively.

	Six Months Ended June 30, 2015
	Retail		Bulk		Services		Total
Revenues	$	12,287,823	$	16,569,589	$	294,369	$	29,151,781
Cost of revenues		5,648,386		11,082,893		497,635		17,228,914
Gross profit (loss)		6,639,437		5,486,696		(203,266)		11,922,867
General and administrative expenses		5,441,563		829,829		1,092,419		7,363,811
Income (loss) from operations	$	1,197,874	$	4,656,867	$	(1,295,685)		4,559,056
Other income, net								(191,362)
Net income								4,367,694
Income attributable to non-controlling interests								218,333
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	4,149,361

Depreciation and amortization expenses for the six months ended June 30, 2015 for the retail, bulk and services segments were $1,204,668, $1,570,418 and $44,948, respectively.

	Six Months Ended June 30, 2014
	Retail		Bulk		Services		Total
Revenues	$	12,612,218	$	19,925,930	$	742,294	$	33,280,442
Cost of revenues		6,050,859		14,007,459		881,653		20,939,971
Gross profit (loss)		6,561,359		5,918,471		(139,359)		12,340,471
General and administrative expenses		5,731,520		760,373		2,631,901		9,123,794
Income (loss) from operations	$	829,839	$	5,158,098	$	(2,771,260)		3,216,677
Other income, net								467,883
Consolidated net income								3,684,560
Income attributable to non-controlling interests								269,958
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	3,414,602

Depreciation and amortization expenses for the six months ended June 30, 2014 for the retail, bulk and services segments were $1,231,496, $1,566,412 and $57,448, respectively.

	As of June 30, 2015
	Retail		Bulk		Services		Total
Accounts receivable, net	$	2,388,539	$	6,142,053	$	612,414	$	9,143,006
Property plant and equipment, net		26,031,989		29,061,184		128,332		55,221,505
Construction in progress		1,361,970		315,854		-		1,677,824
Goodwill		1,170,511		2,328,526		-		3,499,037
Land held for development		-		-		20,558,424		20,558,424
Total assets		48,057,146		88,429,778		23,571,831		160,058,755

	As of December 31, 2014
	Retail		Bulk		Services		Total
Accounts receivable, net	$	2,521,008	$	8,399,999	$	852,737	$	11,773,744
Property plant and equipment, net		26,978,259		29,318,534		100,195		56,396,988
Construction in progress		902,656		997,360		-		1,900,016
Goodwill		1,170,511		2,328,526		-		3,499,037
Land held for development		-		-		20,558,424		20,558,424
Total assets		52,051,461		84,331,227		24,077,143		160,459,831