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SEGMENT REPORTING
3 Months Ended
Jul. 31, 2012
Segment Reporting  
SEGMENT REPORTING

NOTE 7 - SEGMENT REPORTING

 

The Company's reportable segments are determined and reviewed by management based upon the nature of the services, the external customers and customer industries and the sales and distribution methods used to market the products. The Company organizes its reportable segments to correspond with its primary service lines: wireless communications, specialty construction and electrical power.  Management evaluates performance based upon income (loss) before income taxes. Corporate includes corporate salaries and external professional fees, such as accounting, legal and investor relations costs which are not allocated to the other segments.  Corporate assets primarily include cash and cash equivalents and prepaid expenses.

 

As part of the divestiture transactions more fully described in Note 9, the Company reclassified the reporting units within its reportable segments.  As a result, wireless communications includes the Suisun City and Australia Operations, specialty construction includes the China Operations, and electrical power includes the Trenton, Seattle and Portland Operations, for each of the periods presented.  The segment information presented below with regard to the operating results no longer includes amounts related to the St. Louis, Sarasota, Lakewood and Hartford Operations, which were sold and subsequently reported as discontinued operations.  The Sarasota, Lakewood and Hartford Operations were previously reported in the wireless communications segment and the St. Louis Operation was reported in the specialty construction segment.  Segment results for the three months ended July 31, 2012 and 2011 are as follows:

 

    As of and for the Three Months Ended July 31, 2012     As of and for the Three Months Ended July 31, 2011  
    Corporate     Wireless
Communications
    Specialty
Construction
    Electrical
Power
    Total     Corporate     Wireless
Communications
    Specialty
Construction
    Electrical
Power
    Total  
                                                             
Revenue   $ -     $ 4,614,811     $ 1,030,800     $ 7,798,806     $ 13,444,417     $ -     $ 7,098,539     $ 1,300,129     $ 10,217,423     $ 18,616,091  
                                                                                 
Depreciation and amortization   $ 10,993     $ 94,803     $ 174,691     $ 81,227     $ 361,714     $ 16,373     $ 128,945     $ 181,999     $ 111,856     $ 439,173  
                                                                                 
Income (loss) from continuing operations before income taxes   $ (866,461 )   $ (40,308 )   $ 18,831     $ 330,282     $ (557,656 )   $ (910,609 )   $ 861,110     $ 72,926     $ 557,925     $ 581,352  
                                                                                 
Goodwill   $ -     $ 1,963,321     $ -     $ -     $ 1,963,321     $ -     $ 2,038,978     $ -     $ -     $ 2,038,978  
                                                                                 
Total assets   $ 786,681     $ 9,088,501     $ 7,497,749     $ 8,580,457     $ 25,953,388     $ 8,922,917     $ 13,041,863     $ 10,761,219     $ 13,606,674     $ 46,332,673  
                                                                                 
Additions of property and equipment   $ -     $ 39,820     $ 136,343     $ 58,850     $ 235,013     $ 2,662     $ 23,737     $ 65,567     $ 15,306     $ 107,272  

 

As of and for the three months ended July 31, 2012 and 2011, the specialty construction segment includes approximately $1,031,000 and $1,300,000 in revenue and $847,000 and $854,000 of net assets held in China related to the Company’s 60% interest in the China Operations, respectively. As of and for the three months ended July 31, 2012 and 2011, the wireless communications segment includes approximately $2,156,000 and $3,283,000 in revenue and $2,816,000 and $2,697,000 of net assets held in Australia related to the Company’s Australia Operations, respectively.