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Industry Segment Information
 12 Months Ended
May 31, 2014
Segment Reporting [Abstract]  
Industry Segment Information
NOTE 16   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 manufactured housing, modular housing and recreational vehicle net sales is:

 

     Year Ended
May 31,		  
     2014     2013  

Domestic Manufactured Housing

      63 %      49 % 

Modular Housing

     

Domestic

      10        11   

Canadian

      3        3   
  

 

 

    

 

 

  
     13        14   
  

 

 

    

 

 

  

Total Housing

      76        63   

Recreational Vehicles

     

Domestic

      20        30   

Canadian

      4        7   
  

 

 

    

 

 

  

Total Recreational Vehicles

      24        37   
  

 

 

    

 

 

  
     100 %      100 % 
  

 

 

    

 

 

  

Total operating loss represents operating losses before interest expense, 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,  
     2014      2013  
     (Dollars in thousands)  

NET SALES

      

Domestic Manufactured Housing

    $ 120,830       $ 87,380   

Modular Housing

      

Domestic

      19,884         18,562   

Canadian

      5,150         5,162   
  

 

 

     

 

 

  
     25,034         23,724   
  

 

 

     

 

 

  

Total Housing

      145,864         111,104   

Recreational Vehicles

      

Domestic

      38,082         53,267   

Canadian

      7,784         13,203   
  

 

 

     

 

 

  

Total Recreational Vehicles

      45,866         66,470   
  

 

 

     

 

 

  

Total Net sales

    $ 191,730       $ 177,574   
  

 

 

     

 

 

  

LOSS BEFORE INCOME TAXES

     

Operating Loss

     

Housing

    $ (6,128 )    $ (6,867 ) 

Recreational vehicles

      (4,951 )      (3,444 ) 

General corporate expense

      (1,520 )      (1,907 ) 

Gain on sale of idle property, plant and equipment

      706        1,641   
  

 

 

    

 

 

  

Total operating loss

      (11,893 )      (10,577 ) 

Interest expense

      (71 )      —   

Interest income

      100        64   
  

 

 

    

 

 

  

Loss before income taxes

    $ (11,864 )    $ (10,513 ) 
  

 

 

    

 

 

  

IDENTIFIABLE ASSETS

     

Operating assets

   

Housing

    $ 51,625      $ 45,072   

Recreational vehicles

      14,129        18,855   
  

 

 

    

 

 

  

Total operating assets

      65,754        63,927   

U.S. Treasury bills

      —        4,000   
  

 

 

    

 

 

  

Total assets

    $ 65,754      $ 67,927   
  

 

 

    

 

 

  

DEPRECIATION

     

Housing

    $ 1,359      $ 1,490   

Recreational vehicles

      357        512   
  

 

 

    

 

 

  

Total depreciation

    $ 1,716      $ 2,002   
  

 

 

    

 

 

  

CAPITAL EXPENDITURES

   

Housing

    $ 722      $ 48   

Recreational vehicles

      31        27   
  

 

 

    

 

 

  

Total capital expenditures

    $ 753      $ 75