REVENUES

9 Months Ended

Jan. 31, 2023

REVENUES

REVENUES

(7)          REVENUES

Land sale revenues. Substantially all of the land sale revenues were received from two customers and three customers for the three and nine months ended January 31, 2023 and two customers and three customers for the three and nine months ended January 31, 2022. There were no outstanding receivables from these customers as of January 31, 2023 or January 31, 2022.

Building sales and other revenues. Building sales and other revenues consist of (in thousands):

	Three Months				Nine Months
	ended January 31,				ended January 31,
	2023		2022		2023		2022
Sale of building	$	—	$	—	$	—	$	6,750
Oil and gas royalties		34		48		140		223
Miscellaneous other revenues		77		88		462		290
	$	111	$	136	$	602	$	7,263

Refer to Note 7 to the consolidated financial statements contained in the 2022 Form 10-K for additional detail about the categories of building sales and other revenues.

The Company owned a 143,000 square foot warehouse and office facility located in Palm Coast, Florida during the nine months ended January 31, 2022. Sale of building during the nine months ended January 31, 2022 consists of the sale of this 143,000 square foot warehouse and office facility.

Miscellaneous other revenues for the three and nine months ended January 31, 2023 primarily consist of extension fees for purchase contracts and residential rental revenues. Miscellaneous other revenues for the three and nine months ended January 31, 2022 primarily consist of rent received from a tenant at a building in Palm Coast, Florida and tenants at a shopping center in Albuquerque, New Mexico, a non-refundable option payment and proceeds from the sale of equipment.

Major customers:

● There were two customers with revenues in excess of 10% of the Company’s revenues during the three months ended January 31, 2023. The revenues for each such customer during the three months ended January 31, 2023 were as follows: $1,025,000 and $3,778,000, with each of these revenues reported in the Company’s land development business segment.

● There were three customers with revenues in excess of 10% of the Company’s revenues during the nine months ended January 31, 2023. The revenues for each such customer during the nine months ended January 31, 2023 were as follows: $4,369,000, $5,246,000 and $7,763,000, with each of these revenues reported in the Company’s land development business segment.

● There were two customers with revenues in excess of 10% of the Company’s revenues during the three months ended January 31, 2022. The revenues for each such customer during the three months ended January 31, 2022 were as follows: $1,458,000 and $4,068,000, with each of these revenues reported in the Company’s land development business segment.

● There were three customers with revenues in excess of 10% of the Company’s revenues during the nine months ended January 31, 2022. The revenues for each such customer during the nine months ended January 31, 2022 were as follows: $3,699,000, $4,844,000 and $10,754,000, with each of these revenues reported in the Company’s land development business segment.