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INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS
 9 Months Ended
Jan. 31, 2021
INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS  
INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

(16)          INFORMATION ABOUT THE COMPANY’S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

The following tables set forth summarized data relative to the industry segments in which the Company operated for the periods indicated (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Land

 

 

 

 

 

 

 

 

 

 

    

Development

    

Homebuilding

    

Corporate

    

Consolidated

Three months ended January 31, 2021 (a):

 

 

  

 

 

  

 

 

  

 

 

  

Revenues

 

$

6,531

 

$

1,262

 

$

71

 

$

7,864

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

2,284

 

$

35

 

$

(226)

 

$

2,093

Provision for income taxes

 

 

483

 

 

 7

 

 

220

 

 

710

Interest expense, net (b)

 

 

20

 

 

 —

 

 

 1

 

 

21

Depreciation

 

 

17

 

 

 —

 

 

137

 

 

154

EBITDA (c)

 

$

2,804

 

$

42

 

$

132

 

$

2,978

Capital expenditures

 

$

 —

 

$

 3

 

$

 —

 

$

 3

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended January 31, 2020 (a):

 

 

 

 

 

 

 

 

 

 

 

 

Revenues

 

$

4,508

 

$

 —

 

$

779

 

$

5,287

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

2,469

 

$

 —

 

$

(2,131)

 

$

338

Provision for income taxes

 

 

101

 

 

 —

 

 

295

 

 

396

Interest income, net (b)

 

 

(5)

 

 

 —

 

 

(53)

 

 

(58)

Depreciation

 

 

30

 

 

 —

 

 

88

 

 

118

EBITDA (c)

 

$

2,595

 

$

 —

 

$

(1,801)

 

$

794

Capital expenditures

 

$

 —

 

$

 —

 

$

13

 

$

13

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended January 31, 2021 (a):

 

 

  

 

 

  

 

 

  

 

 

  

Revenues

 

$

19,376

 

$

1,464

 

$

486

 

$

21,326

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

4,684

 

$

(116)

 

$

(1,084)

 

$

3,484

Provision (benefit) for income taxes

 

 

810

 

 

(44)

 

 

409

 

 

1,175

Interest expense (income), net (b)

 

 

30

 

 

 —

 

 

(3)

 

 

27

Depreciation

 

 

40

 

 

 —

 

 

384

 

 

424

EBITDA (c)

 

$

5,564

 

$

(160)

 

$

(294)

 

$

5,110

Capital expenditures

 

$

 —

 

$

 3

 

$

 —

 

$

 3

Total assets as of January 31, 2021

 

$

76,580

 

$

1,916

 

$

17,498

 

$

95,892

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended January 31, 2020 (a):

 

 

  

 

 

  

 

 

  

 

 

  

Revenues

 

$

12,553

 

$

 —

 

$

1,461

 

$

14,014

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

1,684

 

$

 —

 

$

(3,711)

 

$

(2,027)

Benefit for income taxes

 

 

(125)

 

 

 —

 

 

(235)

 

 

(360)

Interest income, net (b)

 

 

(19)

 

 

 —

 

 

(304)

 

 

(323)

Depreciation

 

 

13

 

 

 —

 

 

368

 

 

381

EBITDA (c)

 

$

1,553

 

$

 —

 

$

(3,882)

 

$

(2,329)

Capital expenditures

 

$

 5

 

$

 —

 

$

13

 

$

18

Total assets as of January 31, 2020

 

$

68,259

 

$

 —

 

$

29,055

 

$

97,314

(a)

Revenue information provided for each segment may include amounts classified as rental revenues and other revenues in the accompanying consolidated statements of operations. Corporate is net of intercompany eliminations.

(b)

Interest expense (income), net includes inter-segment interest expense (income) that is eliminated in consolidation.

(c)

The Company uses EBITDA (which the Company defines as income (loss) before net interest expense, income taxes, depreciation and amortization, and non-cash impairment charges) in addition to net income (loss) as a key measure of profit or loss for segment performance and evaluation purposes.

Prior to 2021, the Company operated in primarily one business segment: the real estate business.