BUSINESS SEGMENTS

3 Months Ended

Dec. 31, 2017

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 (loss), and income before taxes.

	Wholesale		Retail
	Segment		Segment		Other		Consolidated
THREE MONTHS ENDED  DECEMBER 2017
External revenue:
Cigarettes	$	223,265,578	$	—	$	—	$	223,265,578
Tobacco		41,641,678		—		—		41,641,678
Confectionery		18,516,318		—		—		18,516,318
Health food		—		6,289,897		—		6,289,897
Foodservice & other		25,799,738		—		—		25,799,738
Total external revenue		309,223,312		6,289,897		—		315,513,209
Depreciation		310,485		188,020		—		498,505
Amortization		32,500		—		—		32,500
Operating income (loss)		3,188,983		(472,981)		(1,408,853)		1,307,149
Interest expense		23,708		—		178,483		202,191
Income (loss) from operations before taxes		3,167,932		(470,505)		(1,587,336)		1,110,091
Total assets		97,487,611		14,302,363		124,460		111,914,434
Capital expenditures		54,646		236,672		—		291,318
THREE MONTHS ENDED  DECEMBER 2016
External revenue:
Cigarettes	$	221,769,023	$	—	$	—	$	221,769,023
Tobacco		38,685,826		—		—		38,685,826
Confectionery		18,600,447		—		—		18,600,447
Health food		—		6,239,304		—		6,239,304
Foodservice & other		24,809,629		—		—		24,809,629
Total external revenue		303,864,925		6,239,304		—		310,104,229
Depreciation		342,674		117,509		—		460,183
Amortization		66,250		—		—		66,250
Operating income (loss)		3,968,792		(298,486)		(1,579,072)		2,091,234
Interest expense		26,393		—		191,150		217,543
Income (loss) from operations before taxes		3,943,902		(294,215)		(1,770,223)		1,879,464
Total assets		93,912,144		13,038,299		85,364		107,035,807
Capital expenditures		166,775		234,003		—		400,778