v3.21.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Feb. 28, 2021
Feb. 29, 2020
Revenues:        
Revenues $ 4,739 $ 3,519 $ 9,607 $ 13,979
Expenses:        
Water service operations (213) (207) (758) (461)
Wastewater service operations (64) (38) (156) (64)
Land development construction costs (269) (1,817) (1,988) (9,880)
Depletion and depreciation (354) (383) (719) (602)
Other (363) (3) (387) (27)
Total cost of revenues (1,263) (2,448) (4,008) (11,034)
Gross profit 3,476 1,071 5,599 2,945
General and administrative expenses (1,342) (1,037) (2,428) (1,838)
Depreciation (76) (95) (160) (180)
Operating income (loss) 2,058 (61) 3,011 927
Other income:        
Recognition of public improvement reimbursables - related party 18,894 0 18,894 0
Interest income 1,448 84 1,463 138
Reimbursement of construction costs - related party 485 0 485 6,276
Oil and gas royalty income, net 76 269 151 539
Oil and gas lease income, net 48 61 100 123
Other 10 0 20 0
Income from operations before income taxes 23,019 353 24,124 8,003
Income tax expense (5,667) (79) (5,927) (1,966)
Net income 17,352 274 18,197 6,037
Unrealized holding losses 0 0 0 (4)
Total comprehensive income $ 17,352 $ 274 $ 18,197 $ 6,033
Earnings per common share:        
Basic (in dollars per share) $ 0.73 $ 0.01 $ 0.76 $ 0.25
Diluted (in dollars per share) $ 0.72 $ 0.01 $ 0.76 $ 0.25
Weighted average common shares outstanding:        
Basic (in shares) 23,882 23,846 23,874 23,836
Diluted (in shares) 24,092 24,110 24,064 24,080
Metered Water Usage - Municipal Customers [Member]        
Revenues:        
Revenues $ 74 $ 37 $ 241 $ 140
Metered Water Usage - Oil and Gas Operations [Member]        
Revenues:        
Revenues 583 20 1,782 57
Wastewater Treatment Fees [Member]        
Revenues:        
Revenues 51 20 93 40
Water and Wastewater Tap Fees [Member]        
Revenues:        
Revenues 1,583 1,173 2,666 2,845
Lot Sales [Member]        
Revenues:        
Revenues 515 2,265 2,871 10,807
Project Management Fees - Recognized [Member]        
Revenues:        
Revenues 1,548 0 1,548 0
Special Facility Projects and Other [Member]        
Revenues:        
Revenues $ 385 $ 4 $ 406 $ 90

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