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, 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		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, $735,672 and $22,474, respectively.

	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 $73,182, 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		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, $1,476,736 and $57,448, 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, 2014
	Retail		Bulk		Services		Total
Property plant and equipment, net	$	26,179,279	$	30,384,326	$	623,057	$	57,186,662
Construction in progress		1,457,884		1,001,549		-		2,459,433
Goodwill		1,170,511		2,328,526		-		3,499,037
Investment in land		-		-		20,558,424		20,558,424
Total assets		48,526,367		88,912,937		24,571,390		162,010,694

	As of December 31, 2013
	Retail		Bulk		Services		Total
Property plant and equipment, net	$	26,339,461	$	31,736,774	$	526,651	$	58,602,886
Construction in progress		1,181,628		98,807		169,982		1,450,417
Goodwill		1,170,511		2,328,526		-		3,499,037
Investment in land		-		-		13,175,566		13,175,566
Total assets		65,853,375		84,300,971		15,210,508		165,364,854