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Business Segments and Foreign Operations
 6 Months Ended
Feb. 28, 2013
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 and operating income. The Company is organized based on geographic location. Segment data does not include inter-segment revenues and incorporates corporate expenses into the Americas segment. 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.

 

Summary information about reportable segments is as follows (in thousands):

 

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

February 28, 2013

        

Net sales

   $ 40,217      $ 32,420      $ 14,075      $ 86,712   

Income from operations (1)

   $ 3,825      $ 7,500      $ 3,110      $ 14,435   

Depreciation and amortization expense

   $ 952      $ 237      $ 46      $ 1,235   

Interest income

   $ 0      $ 142      $ 53      $ 195   

Interest expense

   $ 174      $ 0      $ 2      $ 176   

Total assets

   $ 188,571      $ 106,292      $ 17,097      $ 311,960   

February 29, 2012

        

Net sales

   $ 46,023      $ 28,001      $ 11,942      $ 85,966   

Income from operations (1)

   $ 6,521      $ 5,933      $ 2,255      $ 14,709   

Depreciation and amortization expense

   $ 858      $ 352      $ 47      $ 1,257   

Interest income

   $ 1      $ 28      $ 40      $ 69   

Interest expense

   $ 81      $ 0      $ 2      $ 83   

Total assets

   $ 186,778      $ 95,993      $ 16,223      $ 298,994   

 

(1) Income from operations for the Americas segment included corporate expenses of $4.9 million and $5.0 million for the three months ended February 28, 2013 and February 29, 2012, respectively.

 

As of and for the Six Months Ended:           Americas                        Europe                      Asia-Pacific                       Total               

February 28, 2013

        

Net sales

   $ 85,572      $ 67,645      $ 28,759      $ 181,976   

Income from operations (2)

   $ 8,396      $ 15,951      $ 5,953      $ 30,300   

Depreciation and amortization expense

   $ 1,872      $ 477      $ 89      $ 2,438   

Interest income

   $ 1      $ 178      $ 78      $ 257   

Interest expense

   $ 297      $ 0      $ 4      $ 301   

Total assets

   $ 188,571      $ 106,292      $ 17,097      $ 311,960   

February 29, 2012

        

Net sales

   $ 86,651      $ 58,127      $ 26,133      $ 170,911   

Income from operations (2)

   $ 8,934      $ 10,742      $ 5,333      $ 25,009   

Depreciation and amortization expense

   $ 1,680      $ 708      $ 87      $ 2,475   

Interest income

   $ 1      $ 57      $ 63      $ 121   

Interest expense

   $ 321      $ 0      $ 4      $ 325   

Total assets

   $ 186,778      $ 95,993      $ 16,223      $ 298,994   

 

(2) Income from operations for the Americas segment included corporate expenses of $9.8 million and $9.6 million for the six months ended February 28, 2013 and February 29, 2012, respectively.

Net sales by product line are as follows (in thousands):

 

Net Sales by Product Line:   Three Months Ended     Six Months Ended  
    February 28,     February 29,     February 28,     February 29,  
                2013                              2012                              2013                              2012               

Multi-purpose maintenance products

   $ 75,447      $ 71,409      $ 157,193      $ 142,221   

Homecare and cleaning products

     11,265        14,557        24,783        28,690   
 

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 86,712      $ 85,966      $ 181,976      $ 170,911