| Segment Information | NOTE 13—SEGMENT INFORMATION
Our business segments consist of factory-built housing and financial services. Our financial services business commenced during the fourth quarter of 2009 to provide dealer inventory-secured financing for houses built by the Company. Our chief decision making officer considers income (loss) from operations as the basis to measure segment profitability. The following table summarizes net sales, income (loss) from operations, and identifiable assets by segment for the three and nine month periods ended September 30, 2011 and 2010.
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For The Three Months Ended |
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For The Nine Months Ended |
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September 30, |
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September 30, |
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September 30, |
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September 30, |
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2011 |
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2010 |
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2011 |
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2010 |
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Revenues from external customers |
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Factory-built housing |
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$ |
6,956,047 |
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$ |
8,219,265 |
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$ |
18,969,689 |
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$ |
23,437,969 |
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Financial services |
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128,178 |
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80,005 |
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347,844 |
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171,485 |
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Total revenues |
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$ |
7,084,225 |
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$ |
8,299,270 |
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$ |
19,317,533 |
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$ |
23,609,454 |
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Income (loss) from operations |
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Factory-built housing |
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$ |
574,506 |
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$ |
986,520 |
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$ |
1,093,522 |
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$ |
(285,508 |
)(1) |
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Financial services |
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72,573 |
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23,409 |
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131,702 |
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22,966 |
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General corporate expenses |
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(108,395 |
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(108,843 |
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(441,245 |
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(480,203 |
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Total income (loss) from operations |
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$ |
538,684 |
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$ |
901,086 |
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$ |
783,979 |
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$ |
(742,745 |
)(1) |
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Other income (expense) |
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Derivative income (expense) |
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$ |
57,135 |
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$ |
42,723 |
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$ |
402,107 |
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$ |
39,078 |
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Other income (expense) |
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211 |
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— |
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9,719 |
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— |
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Interest income |
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3,174 |
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6,197 |
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14,050 |
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15,776 |
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Interest expense |
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(16,054 |
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(55,772 |
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(72,028 |
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(135,866 |
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Total other income (expense) |
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$ |
44,466 |
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$ |
(6,852 |
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$ |
353,848 |
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$ |
(81,012 |
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Income (loss) before income taxes |
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$ |
583,150 |
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$ |
894,234 |
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$ |
1,137,827 |
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$ |
(823,757 |
)(1) |
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Identifiable assets |
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Factory-built housing |
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$ |
13,156,287 |
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$ |
16,225,452 |
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Financial services |
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5,661,853 |
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4,683,121 |
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Other |
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112,151 |
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100,090 |
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$ |
18,930,291 |
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$ |
21,008,663 |
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| (1) |
Includes $2,000,000 of goodwill impairment charges | |