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REVENUES

6 Months Ended

Oct. 31, 2024

(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 sales of homes constructed and sold by the Company.

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


	Three Months Ended				Six Months Ended
	October 31,				October 31,
	2024		2023		2024		2023
Landscaping revenues	$	482	$	314	$	1,103	$	426
Miscellaneous other revenues		233		135		362		252
Total	$	715	$	449	$	1,465	$	678

Refer to Note 7 to the consolidated financial statements contained in the 2024 Form 10-K for detail about the categories of other revenues.

Miscellaneous other revenues for the three and six months ended October 31, 2024 primarily consist of extension fees for purchase contracts and residential rental revenues. Miscellaneous other revenues for the three and six months ended October 31, 2023 primarily consist of extension fees for purchase contracts, forfeited deposits and residential rental revenues.

Major customers:

●

Substantially all of the land sale revenues were received from three and four customers for the three and six months ended October 31, 2024 and three customers for each of the three and six months ended October 31, 2023. Other than receivables for immaterial amounts, there were no outstanding receivables from these customers as of October 31, 2024 or October 31, 2023.

●

There were two customers that each contributed in excess of 10% of the Company’s revenues for the three months ended October 31, 2024. The revenues for such customers for the three months ended October 31, 2024 were as follows: $2,224,000 and $2,502,000, with this revenue reported in the Company’s land development business segment. There was one customer that contributed in excess of 10% of the Company’s revenues for the three months ended October 31, 2023. The revenue from such customer for the three months ended October 31, 2023 was $3,214,000, with this revenue 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 six months ended October 31, 2024. The revenues from such customers for the six months ended October 31, 2024 were as follows: $4,159,000 and $6,036,000, with this revenue 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 six months ended October 31, 2023. The revenues from such customers for the six months ended October 31, 2023 were as follows: $3,508,000 and $6,009,000, with this revenue reported in the Company’s land development business segment.