BUSINESS SEGMENTS

3 Months Ended

Dec. 31, 2016

BUSINESS SEGMENTS

BUSINESS SEGMENTS

9. BUSINESS SEGMENTS

The Company has two reportable business segments: the wholesale distribution of consumer products and the retail sale of health and natural food products. The retail health food stores’ operations are aggregated to comprise the Retail Segment because such operations have similar economic characteristics, as well as similar characteristics with respect to the nature of products sold, the type and class of customers for the health food products and the methods used to sell the products.  Included in the “Other” column are intercompany eliminations, and assets held and charges incurred by our holding company.  The segments are evaluated on revenues, gross margins, operating income, and income before taxes.

	Wholesale		Retail
	Segment		Segment		Other		Consolidated
THREE MONTHS ENDED  DECEMBER 2016
External revenue:
Cigarettes	$	221,769,023	$	—	$	—	$	221,769,023
Tobacco		38,685,826		—		—		38,685,826
Confectionery		18,600,447		—		—		18,600,447
Health food		—		6,239,304		—		6,239,304
Foodservice & other		24,809,629		—		—		24,809,629
Total external revenue		303,864,925		6,239,304		—		310,104,229
Depreciation		342,674		117,509		—		460,183
Amortization		66,250		—		—		66,250
Operating income		3,968,792		(298,486)		(1,579,072)		2,091,234
Interest expense		26,393		—		191,150		217,543
Income from operations before taxes		3,943,902		(294,215)		(1,770,223)		1,879,464
Total assets		93,912,144		13,038,299		85,364		107,035,807
Capital expenditures		166,775		234,003		—		400,778
THREE MONTHS ENDED  DECEMBER 2015
External revenue:
Cigarettes	$	231,953,328	$	—	$	—	$	231,953,328
Tobacco		37,628,491		—		—		37,628,491
Confectionery		19,845,836		—		—		19,845,836
Health food		—		7,274,118		—		7,274,118
Foodservice & other		25,306,476		—		—		25,306,476
Total external revenue		314,734,131		7,274,118		—		322,008,249
Depreciation		358,567		117,132		—		475,699
Amortization		91,250		—		—		91,250
Operating income		3,849,152		64,125		(1,363,456)		2,549,821
Interest expense		30,032		—		182,422		212,454
Income from operations before taxes		3,841,742		68,758		(1,545,878)		2,364,622
Total assets		94,162,368		12,488,933		83,051		106,734,352
Capital expenditures		326,553		35,012		—		361,565