BUSINESS SEGMENTS

3 Months Ended

Dec. 31, 2015

BUSINESS SEGMENTS

BUSINESS SEGMENTS

9. BUSINESS SEGMENTS

The Company has two reportable business segments: the wholesale distribution of consumer products and the retail sale of health and natural food products. The retail health food stores’ operations are aggregated to comprise the Retail Segment because such operations have similar economic characteristics, as well as similar characteristics with respect to the nature of products sold, the type and class of customers for the health food products and the methods used to sell the products.  Included in the “Other” column are intercompany eliminations, and assets held and charges incurred by our holding company.  The segments are evaluated on revenues, gross margins, operating income, and income before taxes.

	Wholesale Segment		Retail Segment		Other			Consolidated
THREE MONTHS ENDED DECEMBER 2015:
External revenue:
Cigarettes	$	231,953,328	$	—	$	—		$	231,953,328
Tobacco	37,628,491		—		—			37,628,491
Confectionery	19,845,836		—		—			19,845,836
Health food	—		7,274,118		—			7,274,118
Foodservice & other	25,306,476		—		—			25,306,476
Total external revenue	314,734,131		7,274,118		—			322,008,249
Depreciation	358,567		117,132		—			475,699
Amortization	91,250		—		—			91,250
Operating income	3,849,152		64,125		(1,363,456		)	2,549,821
Interest expense	30,032		—		182,422			212,454
Income from operations before taxes	3,841,742		68,758		(1,545,878		)	2,364,622
Total assets	94,162,368		12,488,933		83,051			106,734,352
Capital expenditures	326,553		35,012		—			361,565
THREE MONTHS ENDED DECEMBER 2014:
External revenue:
Cigarettes	$	226,237,114	$	—	$	—		$	226,237,114
Tobacco	37,552,689		—		—			37,552,689
Confectionery	19,561,238		—		—			19,561,238
Health food	—		7,770,967		—			7,770,967
Foodservice & other	24,311,468		—		—			24,311,468
Total external revenue	307,662,509		7,770,967		—			315,433,476
Depreciation	366,530		117,588		937			485,055
Amortization	91,250		—		—			91,250
Operating income	4,020,917		124,465		(1,376,277		)	2,769,105
Interest expense	33,557		47,695		155,890			237,142
Income from operations before taxes	3,989,706		81,491		(1,532,167		)	2,539,030
Total assets	100,156,097		13,174,571		231,600			113,562,268
Capital expenditures	297,123		43,673		—			340,796