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Business Segments and Foreign Operations
 9 Months Ended
May 31, 2012
Business Segments and Foreign Operations [Abstract]  
Business Segments and Foreign Operations

Note 14. Business Segments and Foreign Operations

The Company evaluates the performance of its segments and allocates resources to them based on sales, operating income and expected return. The Company is organized based on geographic location. Segment data does not include inter-segment revenues and incorporates corporate expenses into the Americas segment, with the exception of certain research and development expenses which the Europe segment started to incur during fiscal year 2011. All such corporate expenses are not allocated to other segments because the Company’s segments are run independently. As a result, there are few costs that could be considered only corporate expenses that would qualify for allocation to other segments. The most significant portion of corporate expenses relates to the Americas segment both as a percentage of time and sales. Therefore, any allocation to other segments would be arbitrary.

 

The tables below present information about reportable segments and net sales by product line (in thousands):

 

                                 
As of and for the Three Months Ended May 31:   Americas     Europe     Asia-Pacific     Total  

2012

                                

Net sales

   $ 43,972     $ 30,100     $ 12,950     $ 87,022  

Income from operations (1)

   $ 3,637     $ 7,221     $ 2,282     $ 13,140  

Depreciation and amortization expense

   $ 887     $ 281     $ 48     $ 1,216  

Interest income

   $ —       $ 33     $ 28     $ 61  

Interest expense

   $ 157     $ —       $ 2     $ 159  

Total assets

   $ 184,105     $ 96,195     $ 16,394     $ 296,694  
         

2011

                                

Net sales

   $ 46,223     $ 28,139     $ 11,174     $ 85,536  

Income from operations (1)

   $ 5,607     $ 4,925     $ 1,311     $ 11,843  

Depreciation and amortization expense

   $ 858     $ 374     $ 54     $ 1,286  

Interest income

   $ 1     $ 29     $ 29     $ 59  

Interest expense

   $ 274     $ —       $ 3     $ 277  

Total assets

   $ 172,419     $ 105,910     $ 12,348     $ 290,677  

 

(1) Income from operations for the Americas segment included corporate expenses of $5.0 million and $5.1 million for the three months ended May 31, 2012 and 2011, respectively. Income from operations for the Europe segment included research and development expenses of $0.2 million for each of the three months ended May 31, 2012 and 2011.

 

                                 
As of and for the Nine Months Ended May 31:   Americas     Europe     Asia-Pacific     Total  

2012

                                

Net sales

   $ 130,622     $ 88,227     $ 39,084     $ 257,933  

Income from operations (2)

   $ 12,571     $ 17,963     $ 7,615     $ 38,149  

Depreciation and amortization expense

   $ 2,567     $ 989     $ 135     $ 3,691  

Interest income

   $ 1     $ 90     $ 91     $ 182  

Interest expense

   $ 478     $ —       $ 6     $ 484  

Total assets

   $ 184,105     $ 96,195     $ 16,394     $ 296,694  
         

2011

                                

Net sales

   $ 123,524     $ 90,653     $ 31,492     $ 245,669  

Income from operations (2)

   $ 14,249     $ 19,171     $ 5,606     $ 39,026  

Depreciation and amortization expense

   $ 1,984     $ 997     $ 149     $ 3,130  

Interest income

   $ 8     $ 79     $ 80     $ 167  

Interest expense

   $ 810     $ —       $ 8     $ 818  

Total assets

   $ 172,419     $ 105,910     $ 12,348     $ 290,677  

 

(2) Income from operations for the Americas segment included corporate expenses of $14.6 million and $14.9 million for the nine months ended May 31, 2012 and 2011, respectively. Income from operations for the Europe segment included research and development expenses of $0.8 million and $0.6 million for the nine months ended May 31, 2012 and 2011, respectively.

 

                                 
Net Sales by Product Line:   Three Months Ended May 31,     Nine Months Ended May 31,  
    2012     2011     2012     2011  

Multi-purpose maintenance products

   $ 73,666     $ 72,664     $ 215,886     $ 204,636  

Homecare and cleaning products

     13,356       12,872       42,047       41,033  
   

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 87,022     $ 85,536     $ 257,933     $ 245,669