| Segment Reporting |
Note 17: Segment
Reporting
The Company operates in three segments which
are characterized as: (1) Manufacturing, (2) Retail and Online, and (3) Services. The Manufacturing Segment consists of Marquis
Industries, the Retail and Online segment consists of Vintage Stock, ApplianceSmart, Modern Everyday and LiveDeal.com, and the
Services segment consists of the directory services business.
The following tables summarize segment information for the three
months ended December 31, 2018 and 2017:
| |
|
Three Months Ended December 31, |
|
| |
|
2018 |
|
|
2017 |
|
| Revenues |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
30,645,015 |
|
|
$ |
21,293,471 |
|
| Manufacturing |
|
|
22,382,285 |
|
|
|
18,878,535 |
|
| Services |
|
|
168,640 |
|
|
|
196,058 |
|
| |
|
$ |
53,195,940 |
|
|
$ |
40,368,064 |
|
| Gross profit |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
13,576,283 |
|
|
$ |
11,455,802 |
|
| Manufacturing |
|
|
5,601,658 |
|
|
|
4,752,568 |
|
| Services |
|
|
159,137 |
|
|
|
187,520 |
|
| |
|
$ |
19,337,078 |
|
|
$ |
16,395,890 |
|
| Operating income |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
(238,652 |
) |
|
$ |
2,231,476 |
|
| Manufacturing |
|
|
2,170,477 |
|
|
|
1,502,254 |
|
| Services |
|
|
158,667 |
|
|
|
187,058 |
|
| |
|
$ |
2,090,492 |
|
|
$ |
3,920,788 |
|
| Depreciation and amortization |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
788,251 |
|
|
$ |
677,461 |
|
| Manufacturing |
|
|
693,518 |
|
|
|
718,444 |
|
| Services |
|
|
– |
|
|
|
– |
|
| |
|
$ |
1,481,769 |
|
|
$ |
1,395,905 |
|
| Interest expense, net |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
1,175,791 |
|
|
$ |
2,022,407 |
|
| Manufacturing |
|
|
476,942 |
|
|
|
445,905 |
|
| Services |
|
|
– |
|
|
|
– |
|
| |
|
$ |
1,652,733 |
|
|
$ |
2,468,312 |
|
| Net income before provision for income taxes |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
(1,272,417 |
) |
|
$ |
4,052,595 |
|
| Manufacturing |
|
|
3,211,620 |
|
|
|
1,063,393 |
|
| Services |
|
|
158,667 |
|
|
|
187,058 |
|
| |
|
$ |
2,097,870 |
|
|
$ |
5,303,046 |
|
| |
|
As of |
|
|
As of |
|
| |
|
December 31, |
|
|
September 30, |
|
| |
|
2018 |
|
|
2018 |
|
| Total assets |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
85,297,114 |
|
|
$ |
88,799,584 |
|
| Manufacturing |
|
|
46,424,885 |
|
|
|
52,915,109 |
|
| Services |
|
|
87,292 |
|
|
|
57,703 |
|
| |
|
$ |
131,809,291 |
|
|
$ |
141,772,396 |
|
| Intangible assets and goodwill |
|
|
|
|
|
|
|
|
| Retail and Online |
|
$ |
42,968,314 |
|
|
$ |
43,268,668 |
|
| Manufacturing |
|
|
336,596 |
|
|
|
343,914 |
|
| Services |
|
|
– |
|
|
|
– |
|
| |
|
$ |
43,304,910 |
|
|
$ |
43,612,582 |
|
|