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 September 30, 2013
	Retail		Bulk		Services		Total
Revenues	$	5,023,591	$	10,239,552	$	175,438	$	15,438,581
Cost of revenues		2,661,463		7,280,151		270,082		10,211,696
Gross profit		2,362,128		2,959,401		(94,644)		5,226,885
General and administrative expenses		2,656,217		372,812		1,279,822		4,308,851
Income (loss) from operations		(294,089)		2,586,589		(1,374,466)		918,034
Other income, net								132,465
Consolidated net income								1,050,499
Income attributable to non-controlling interests								141,809
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	908,690

Depreciation and amortization expenses for the three months ended September 30, 2013 for the retail, bulk and services segments were $536,229, $805,641 and $73,181, respectively.

	Nine Months Ended September 30, 2013
	Retail		Bulk		Services		Total
Revenues	$	17,598,200	$	30,258,814	$	706,144	$	48,563,158
Cost of revenues		8,366,391		21,514,909		836,945		30,718,245
Gross profit		9,231,809		8,743,905		(130,801)		17,844,913
General and administrative expenses		7,966,975		1,136,021		2,369,553		11,472,549
Income (loss) from operations		1,264,834		7,607,884		(2,500,354)		6,372,364
Other income, net								1,557,060
Consolidated net income								7,929,424
Income attributable to non-controlling interests								424,882
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	7,504,542

Depreciation and amortization expenses for the nine months ended September 30, 2013 for the retail, bulk and services segments were $1,555,128, $2,337,766 and $219,544, respectively.

	As of September 30, 2013
	Retail		Bulk		Services		Total
Property plant and equipment, net	$	26,351,507	$	32,706,916	$	560,813	$	59,619,236
Construction in progress	$	675,413	$	26,635	$	152,016	$	854,064
Goodwill	$	1,170,511	$	2,328,526	$	-	$	3,499,037
Investment in land	$	-	$	-	$	12,025,566	$	12,025,566
Total assets	$	59,148,079	$	90,394,680	$	15,211,919	$	164,754,678

	Three Months Ended September 30, 2012
	Retail		Bulk		Services		Total
Revenues	$	5,703,233	$	10,031,176	$	105,727	$	15,840,136
Cost of revenues		2,798,560		7,777,247		29,335		10,605,142
Gross profit		2,904,673		2,253,929		76,392		5,234,994
General and administrative expenses		3,241,323		316,240		532,012		4,089,575
Income (loss) from operations		(336,650)		1,937,689		(455,620)		1,145,419
Other income, net								221,655
Consolidated net income								1,367,074
Income attributable to non-controlling interests								62,231
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	1,304,843

Depreciation and amortization expenses for the three months ended September 30, 2012 for the retail, bulk and services segments were $524,401, $1,291,550 and $73,280, respectively.

	Nine Months Ended September 30, 2012
	Retail		Bulk		Services		Total
Revenues	$	18,138,615	$	30,313,063	$	347,964	$	48,799,642
Cost of revenues		8,720,675		23,301,186		183,238		32,205,099
Gross profit		9,417,940		7,011,877		164,726		16,594,543
General and administrative expenses		8,730,075		953,004		1,369,754		11,052,833
Income (loss) from operations		687,865		6,058,873		(1,205,028)		5,541,710
Other income, net								339,023
Consolidated net income								5,880,733
Income attributable to non-controlling interests								275,732
Net income attributable to Consolidated Water Co. Ltd. stockholders							$	5,605,001

Depreciation and amortization expenses for the nine months ended September 30, 2012 for the retail, bulk and services segments were $1,576,626, $3,845,642 and $207,338, 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