INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

6 Months Ended

Oct. 31, 2020

INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

INFORMATION ABOUT THE COMPANY'S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

(14)          INFORMATION ABOUT THE COMPANY’S OPERATIONS IN DIFFERENT INDUSTRY SEGMENTS

The following tables set forth summarized data relative to the industry segments in which the Company operated for the periods indicated (in thousands):

	Land
	Development		Homebuilding		Corporate		Consolidated
Three months ended October 31, 2020 (a):
Revenues	$	8,989	$	202	$	65	$	9,256
Net income (loss)	$	1,693	$	(66)	$	(829)	$	798
Provision (benefit) for income taxes		313		(24)		30		319
Interest expense (income), net (b)		13		—		(1)		12
Depreciation		8		—		124		132
EBITDA (c)	$	2,027	$	(90)	$	(676)	$	1,261
Capital expenditures	$	—	$	3	$	0	$	3
Three months ended October 31, 2019 (a):
Revenues	$	3,620	$	—	$	340	$	3,960
Net income (loss)	$	(352)	$	—	$	(1,817)	$	(2,169)
Provision (benefit) for income taxes		(103)		—		(519)		(622)
Interest expense (income), net (b)		(10)		—		(131)		(141)
Depreciation		4		—		157		161
EBITDA (c)	$	(461)	$	—	$	(2,310)	$	(2,771)
Capital expenditures	$	5	$	—	$	—	$	5
Six months ended October 31, 2020 (a):
Revenues	$	12,845	$	202	$	415	$	13,462
Net income (loss)	$	2,399	$	(152)	$	(856)	$	1,391
Provision (benefit) for income taxes		327		(51)		189		465
Interest expense (income), net (b)		11		—		(5)		6
Depreciation		22		—		248		270
EBITDA (c)	$	2,759	$	(203)	$	(424)	$	2,132
Capital expenditures	$	—	$	3	$	—	$	3
Total assets as of October 31, 2020	$	76,777	$	1,494	$	17,449	$	95,720
Six months ended October 31, 2019 (a):
Revenues	$	8,045	$	—	$	682	$	8,727
Net income (loss)	$	(785)	$	—	$	(1,580)	$	(2,365)
Provision (benefit) for income taxes		(226)		—		(530)		(756)
Interest expense (income), net (b)		(14)		—		(251)		(265)
Depreciation		9		—		280		289
EBITDA (c)	$	(1,016)	$	—	$	(2,081)	$	(3,097)
Capital expenditures	$	5	$	—	$	—	$	5
Total assets as of October 31, 2019	$	71,680	$	—	$	23,949	$	95,629

(a) Revenue information provided for each segment may include amounts classified as rental revenues and other revenues in the accompanying consolidated statements of operations. Corporate is net of intercompany eliminations.

(b) Interest expense (income), net includes inter-segment interest expense (income) that is eliminated in consolidation.

(c) The Company uses EBITDA (which the Company defines as income (loss) before net interest expense, income taxes, depreciation and amortization, and non-cash impairment charges) in addition to net income (loss) as a key measure of profit or loss for segment performance and evaluation purposes.

Prior to 2020, the Company operated in primarily one business segment: the real estate business.