Quarterly report pursuant to Section 13 or 15(d)

SEGMENT ANALYSIS (Tables)

v3.22.4
SEGMENT ANALYSIS (Tables)
3 Months Ended
Jan. 31, 2023
Segment Reporting [Abstract]  
SCHEDULE OF SEGMENT REPORTING INFORMATION

 

    Marine Technology Business (Products)     Marine Engineering Business (Services)     Overhead     Total  
                         
Three Months Ended January 31, 2023                                
                                 
Net Revenues   $ 3,824,159     $ 1,772,125     $ -     $ 5,596,284  
                                 
Cost of Revenues     1,064,244       779,035       -       1,843,279  
                                 
Gross Profit     2,759,915       993,090       -       3,753,005  
                                 
Research & Development     438,308       6,150       -       444,458  
Selling, General & Administrative     661,759       646,310       654,382       1,962,451  
                                 
Total Operating Expenses     1,100,067       652,460       654,382       2,406,909  
                                 
Income (Loss) from Operations     1,659,848       340,630       (654,382 )     1,346,096  
                                 
Other Income                                
Other Income     15,020       745       -       15,765  
                                 
Total Other Income     15,020       745       -       15,765  
                                 
Income (Loss) before Income Taxes     1,674,868       341,375       (654,382 )     1,361,861  
                                 
Income Tax (Expense) Benefit                                
Current Tax (Expense) Benefit     (18,873 )     (19,856

)

  38,718     (11 )
Deferred Tax (Expense) Benefit     -       -       36,007       36,007  
                                 
Total Income Tax (Expense) Benefit     (18,873 )     (19,856 )     74,725     35,996
                                 
Net Income (Loss)   $ 1,655,995     $ 321,519     $ (579,657 )   $ 1,397,857  
                                 
Supplemental Disclosures                                
                                 
Total Assets   $ 36,176,835     $ 13,377,560     $ 949,710     $ 50,504,105  
                                 
Total Liabilities   $ 2,694,766     $ 758,160     $ 480,710     $ 3,933,636  
                                 
Revenues from Intercompany Sales - eliminated from sales above   $ 829,674     $ 45,707     $ 680,000     $ 1,555,381  
                                 
Depreciation and Amortization   $ 128,838     $ 24,910     $ 10,259     $ 164,007  
                                 
Purchases of Long-lived Assets   $ 79,642     $ 4,780     $ 21,485     $ 105,907  

 

 

CODA OCTOPUS GROUP, INC.

Notes to the Consolidated Financial Statements

January 31, 2023 and October 31, 2022

 

NOTE 14 - SEGMENT ANALYSIS (Continued)

 

    Marine Technology Business (Products)     Marine Engineering Business (Services)     Overhead     Total  
                         
Three Months Ended January 31, 2022                                
                                 
Net Revenues   $ 3,823,748     $ 2,014,460     $ -     $ 5,838,208  
                                 
Cost of Revenues     572,292       1,105,982       -       1,678,274  
                                 
Gross Profit     3,251,456       908,478       -       4,159,934  
                                 
Research & Development     529,375       143,515       -       672,890  
Selling, General & Administrative     753,614       651,149       706,349       2,111,112  
                                 
Total Operating Expenses     1,282,989       794,664       706,349       2,784,002  
                                 
Income (Loss) from Operations     1,968,467       113,814       (706,349 )     1,375,932  
                                 
Other Income (Expense)                                
Other Income     9,049       70,945       -       79,994  
Interest Expense     (4,882 )     (5,026 )     (1,370 )     (11,278 )
                                 
Total Other Income (Expense)     4,167       65,919       (1,370 )     68,716  
                                 
Income (Loss) before Income Taxes     1,972,634       179,733       (707,719 )     1,444,648  
                                 
Income Tax (Expense) Benefit                                
Current Tax (Expense) Benefit     (266,520 )     24,036       (43,125 )     (285,609 )
Deferred Tax (Expense) Benefit     6,708       204       51,297       58,209  
                                 
Total Income Tax (Expense) Benefit     (259,812 )     24,240       8,172       (227,400 )
                                 
Net Income (Loss)   $ 1,712,822     $ 203,973     $ (699,547 )   $ 1,217,248  
                                 
Supplemental Disclosures                                
                                 
Total Assets   $ 30,847,114     $ 13,893,382     $ 658,735     $ 45,399,231  
                                 
Total Liabilities   $ 1,635,666     $ 501,339     $ 429,580     $ 2,566,585  
                                 
Revenues from Intercompany Sales - eliminated from sales above   $ 389,395     $ 115,823     $ 600,000     $ 1,105,218  
                                 
Depreciation and Amortization   $ 135,658     $ 16,657     $ 9,151     $ 161,466  
                                 
Purchases of Long-lived Assets   $ 986,093     $ 1,000     $ 14,871     $ 1,001,964