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Segment information
 3 Months Ended
Mar. 31, 2012
Segment information

5. Segment information

 

The Company has three reportable segments: retail, bulk and services. The retail segment operates the water utility for the Seven Mile Beach and West Bay areas of Grand Cayman Island pursuant to an exclusive license granted by the Cayman Islands government. The bulk segment supplies potable water to government utilities in Grand Cayman, the Bahamas and Belize under long-term contracts. The services segment designs, constructs and sells desalination plants and provides desalination plant management and operating services to third parties.

 

The Company evaluates each segment’s performance based upon its income from operations. All intercompany transactions are eliminated for segment presentation purposes.

 

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 March 31, 2012  
    Retail     Bulk     Services     Total  
Revenues   $ 6,566,129     $ 10,069,217     $ 93,381     $ 16,728,727  
Cost of revenues     3,042,747       7,655,453       82,678       10,780,878  
Gross profit     3,523,382       2,413,764       10,703       5,947,849  
General and administrative expenses     2,796,168       327,400       391,117       3,514,685  
Income (loss) from operations     727,214       2,086,364       (380,414 )     2,433,164  
Other income (expense), net                             (132 )
Consolidated net income                             2,433,032  
Income attributable to non-controlling interests                             90,366  
Net income attributable to Consolidated Water Co. Ltd. stockholders                           $ 2,342,666  
                                 
As of March 31, 2012:                                
Property plant and equipment, net   $ 25,042,194     $ 37,522,450     $ 844,200     $ 63,408,844  
Construction in progress     237,944       -       -       237,944  
Goodwill     1,170,511       2,328,526       88,717       3,587,754  
Total assets     72,432,827       77,833,893       2,954,614       153,221,334  

 

    Three Months Ended March 31, 2011  
    Retail     Bulk     Services     Total  
Revenues   $ 6,373,515     $ 7,166,836     $ 366,269     $ 13,906,620  
Cost of revenues     2,880,876       5,602,364       172,825       8,656,065  
Gross profit     3,492,639       1,564,472       193,444       5,250,555  
General and administrative expenses     2,294,903       299,946       1,197,481       3,792,330  
Income (loss) from operations     1,197,736       1,264,526       (1,004,037 )     1,458,225  
Other income (expense), net                             604,648  
Consolidated net income                             2,062,873  
Income attributable to non-controlling interests                             69,863  
Net income attributable to Consolidated Water Co. Ltd. stockholders                           $ 1,993,010  
                                 
As of March 31, 2011:                                
Property plant and equipment, net   $ 26,097,854     $ 27,454,692     $ 1,086,251     $ 54,638,797  
Construction in progress     250,272       342,611       -       592,883  
Goodwill     1,170,511       2,328,526       88,717       3,587,754  
Total assets     77,009,895       71,187,459       4,305,934       152,503,288