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Industry Segment Information
 12 Months Ended
May 31, 2012
Industry Segment Information [Abstract]  
Industry Segment Information
NOTE 13   Industry Segment Information

The Corporation designs, produces and markets manufactured housing, modular housing and recreational vehicles (travel trailers, fifth wheels and park models). Manufactured housing represents homes built according to a national building code; modular housing represents homes built to a local building code. The percentage allocation of housing and recreational vehicle net sales is:

 

                 
    Year Ended
May 31,		  
    2012     2011  

Manufactured Housing

                

Domestic

     48 %      50 % 

Canadian

      —        1  
   

 

 

    

 

 

  
      48       51  

Modular Housing

                

Domestic

     9       8  

Canadian

     3       1  
   

 

 

    

 

 

  
      12       9  
   

 

 

    

 

 

  

Total Housing

     60       60  

Recreational Vehicles

                

Domestic

     30       30  

Canadian

     10       10  
   

 

 

    

 

 

  

Total Recreational Vehicles

     40       40  
   

 

 

    

 

 

  
      100 %      100 % 
   

 

 

    

 

 

  

Total operating loss represents operating losses before interest income and benefit from income taxes with non-traceable operating expenses being allocated to industry segments based on percentages of net sales. General corporate expenses are not allocated to the industry segments.

Identifiable assets, depreciation and capital expenditures, by industry segment, are those items that are used in operations in each industry segment, with jointly used items being allocated based on a percentage of net sales.

 

                 
    Year Ended May 31  
    2012     2011  
    (Dollars in thousands)  

NET SALES

                

Manufactured Housing

                

Domestic

   $ 87,487     $ 81,880  

Canadian

      —        830  
   

 

 

    

 

 

  
      87,487       82,710  

Modular Housing

                

Domestic

     15,852       13,039  

Canadian

     5,818       2,173  
   

 

 

    

 

 

  
      21,670       15,212  
   

 

 

    

 

 

  

Total Housing

     109,157       97,922  
     

Recreational Vehicles

                

Domestic

     55,003       47,868  

Canadian

     18,686       16,537  
   

 

 

    

 

 

  

Total Recreational Vehicles

     73,689       64,405  
   

 

 

    

 

 

  

Total Net sales

   $ 182,846     $ 162,327  
   

 

 

    

 

 

  
     

LOSS BEFORE INCOME TAXES

                

Operating Loss

                

Housing

   $ (13,440 )    $ (17,026 ) 

Recreational vehicles

     (6,808 )      (7,490 ) 

General corporate expense

     (2,318 )      (2,172 ) 

Gain on sale of idle property, plant and equipment

     3,184        —   
   

 

 

    

 

 

  

Total operating loss

     (19,382 )      (26,688 ) 

Interest income

     17       61  
   

 

 

    

 

 

  

Loss before income taxes

   $ (19,365 )    $ (26,627 ) 
   

 

 

    

 

 

  
     

IDENTIFIABLE ASSETS

                

Operating assets

                

Housing

   $ 40,985     $ 42,111  

Recreational vehicles

     20,873       21,994  
   

 

 

    

 

 

  

Total operating assets

     61,858       64,105  

U.S. Treasury bills

     16,998       34,994  
   

 

 

    

 

 

  

Total assets

   $ 78,856     $ 99,099  
   

 

 

    

 

 

  

 

                 
    Year Ended May 31  
    2012     2011  
    (Dollars in thousands)  

DEPRECIATION

                

Housing

   $ 1,762     $ 2,171  

Recreational vehicles

     597       512  
   

 

 

    

 

 

  

Total depreciation

   $ 2,359     $ 2,683  
   

 

 

    

 

 

  
     

CAPITAL EXPENDITURES

                

Housing

   $ 450     $ 522  

Recreational vehicles

     164       294  
   

 

 

    

 

 

  

Total capital expenditures

   $ 614     $ 816