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INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS (Tables)

3 Months Ended

Jul. 31, 2025

INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

Schedule of data relative to the industry segments in which the Company operated

The following table sets forth summarized data relative to the industry segments in which the Company operated for the three months ended July 31, 2025 (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​		​			​	​		​	​
For the Three Months Ended	​	Land		​	​		​	​
July 31, 2025		Development			Homebuilding			Consolidated
Revenues1	​	$	8,935	​	$	8,129	​	$	17,064
Other Revenues	​	​	766	​	​	21	​	​	787
Segment Revenues	​	​	9,701	​	​	8,150	​	​	17,851
Cost of Revenues	​	​	3,580	​	​	5,952	​	​	9,532
Other Cost of Revenues	​	​	326	​	​	—	​	​	326
General and administrative expenses2	​	​	988	​	​	447	​	​	1,435
Segment profit (loss)	​	​	4,807	​	​	1,751	​	​	6,558
​	​	​	​	​	​	​	​	​	​
Interest income, net	​	​	​	​	​	​	​	​	456
Other income	​	​	​	​	​	​	​	​	—
​	​	​	​	​	​	​	​	​	​
Unallocated amounts:	​	​	​	​	​	​	​	​	​
Other corporate general and administrative expenses	​	​	​	​	​	​	​	​	(412)
Income before income taxes	​	​	​	​	​	​	​	$	6,602
​	​	​	​	​	​	​	​	​	​
Segment assets3	​	​	​	​	​	​	​	​	​
as of July 31, 2025	​	$	115,518	​	$	23,172	​	​	​
Depreciation and amortization	​	​	​	​	​	​	​	​	​
for the three months ended July 31, 2025	​	$	68	​	$	10	​	​	​
Capital expenditures	​	​	​	​	​	​	​	​	​
for the three months ended July 31, 2025	​	$	3	​	$	17	​	​	​

¹ Revenue information provided for the land development segment includes certain amounts classified as home sale revenues in the accompanying condensed consolidated statements of operations.

² General and administrative expenses primarily relate to payroll, employee benefits and professional expenses.

³ Segment assets exclude corporate assets, such as cash and cash equivalents, corporate facilities and tax assets.

The following table sets forth summarized data relative to the industry segments in which the Company operated for the three months ended July 31, 2024 (in thousands):

​

​	​	​	​	​	​	​	​	​	​
For the Three Months Ended	​	Land		​	​	​	​	​	​
July 31, 2024		Development			Homebuilding			Consolidated
Revenues4	​	$	10,667	​	$	7,674	​	$	18,341
Other Revenues	​	​	740	​	​	4	​	​	744
Segment Revenues	​	​	11,407	​	​	7,678	​	​	19,085
Cost of Revenues	​	​	6,138	​	​	6,017	​	​	12,155
Other Cost of Revenues	​	​	314	​	​	—	​	​	314
General and administrative expenses5	​	​	908	​	​	390	​	​	1,298
Segment profit (loss)	​	​	4,047	​	​	1,271	​	​	5,318
​	​	​	​	​	​	​	​	​	​
Interest income, net	​	​	​	​	​	​	​	​	281
Other income	​	​	​	​	​	​	​	​	—
​	​	​	​	​	​	​	​	​	​
Unallocated amounts:	​	​	​	​	​	​	​	​	​
Other corporate general and administrative expenses	​	​	​	​	​	​	​	​	(326)
Income before income taxes	​	​	​	​	​	​	​	$	5,273
​	​	​	​	​	​	​	​	​	​
Segment assets6	​	​	​	​	​	​	​	​	​
as of July 31, 2024	​	$	100,886	​	$	14,183	​	​	​
Depreciation and amortization	​	​	​	​	​	​	​	​	​
for the three months ended July 31, 2024	​	$	46	​	$	2	​	​	​
Capital expenditures	​	​	​	​	​	​	​	​	​
for the three months ended July 31, 2024	​	$	25	​	$	9	​	​	​

⁴ Revenue information provided for the land development segment includes certain amounts classified as home sale revenues in the accompanying condensed consolidated statements of operations.

⁵ General and administrative expenses primarily relate to payroll, employee benefits and professional expenses.

⁶ Segment assets exclude corporate assets, such as cash and cash equivalents, corporate facilities and tax assets.

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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No definition available.

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