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REVENUES

3 Months Ended

Jul. 31, 2023

(7) REVENUES

Land sale revenues. Land sale revenues are sales of developed residential land, developed commercial land and undeveloped land.

Home sale revenues. Home sale revenues are from homes constructed and sold by the Company in the Albuquerque, New Mexico metropolitan area.

Other revenues. Other revenues consist of (in thousands):


	Three Months
	Ended July 31,
	2023		2022
Oil and gas royalties	$	—	$	57
Landscaping revenues		112		—
Miscellaneous other revenues		117		39
Total	$	229	$	96

Refer to Note 7 to the consolidated financial statements contained in the 2023 Form 10-K for additional detail about the categories of other revenues.

Miscellaneous other revenues for the three months ended July 31, 2023 primarily consist of extension fees for purchase contracts, forfeited deposits and residential rental revenues. Miscellaneous other revenues for the three months ended July 31, 2022 primarily consist of a non-refundable option payment and a forfeited deposit.

Major customers. Substantially all of the land sale revenues were received from four customers for the three months ended July 31, 2023 and three customers for the three months ended July 31, 2022. Other than receivables for immaterial amounts, there were no outstanding receivables from these customers as of July 31, 2023 or July 31, 2022. There were two customers that each contributed in excess of 10% of the Company’s revenues for the three months ended July 31, 2023. The revenues from each such customer for the three months ended July 31, 2023 were as follows: $2,914,000 and $2,795,000, with each of these revenues reported in the Company’s land development business segment. There were two customers that each contributed in excess of 10% of the Company’s revenues for the three months ended July 31, 2022. The revenues for each such customer for the three months ended July 31, 2022 were as follows: $2,360,000 and $2,341,000, with each of these revenues reported in the Company’s land development business segment.