SEGMENT INFORMATION |
9 Months Ended |
|---|---|
Apr. 30, 2025 | |
| SEGMENT INFORMATION | NOTE 5 – SEGMENT INFORMATION
In 2024, the Company adopted the Accounting Standards Update (ASU) requiring that segment reporting be disclosed for companies with a single reportable segment. The Company adopted the ASU on a retrospective basis as of November 1, 2024. Prior to the adoption of the ASU, segment reporting disclosures were not required for companies with a single reportable segment. The adoption of the ASU had no effect on the Company’s financial condition or results of operations.
The Company is in the business of manufacturing and selling concrete leveling machines and parts in the United States as a single reportable segment. The Company operates one facility. Decisions such as strategy development, product innovation and human resources and other policies are generally centralized decisions. The Company’s Principal Executive Officer is the chief operating decision maker (CODM).
Income The CODM reviews performance based on gross profit (sales less cost of merchandise sold), operating profit, net earnings and net earnings excluding the impact of the fair value adjustment, a non-GAAP financial measure. Operating profit is reviewed to monitor the operating and administrative expenses of the Company. Profitability is important to the Company’s ability to grow and expand operations, fund capital expenditures and strategic initiatives and return value to stockholders through dividends paid. The Company does not have any operations or sources of revenue outside of the United States. |