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Business Segments And Foreign Operations
 9 Months Ended
May 31, 2014
Business Segments And Foreign Operations [Abstract]  
Business Segments And Foreign Operations

Note 13.  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 on the basis of geographical area into the following three segments: the Americas; EMEA; and Asia-Pacific. Segment data does not include inter-segment revenues. Unallocated corporate expenses are general corporate overhead expenses not directly attributable to the operating segments and are reported separate from the Company’s identified segments. The corporate overhead costs include expenses for the Company’s accounting and finance, information technology, human resources, research and development, quality control and executive management functions, as well as all direct costs associated with public company compliance matters including legal, audit and other professional services costs.

 

The Company has updated the financial information previously reported for the business segments to separate out the unallocated corporate expenses. These amounts were included within the Americas segment in the Company’s previously reported business segment information. In addition, effective September 1, 2013, the Company transitioned the management of its India operations to the EMEA segment.  As a result, the India financial results are now being included in the EMEA segment for all periods presented. These amounts were previously included within the Asia-Pacific segment in the Company’s reported business segment information. Summary information about reportable segments is as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unallocated

 

 

 

For the Three Months Ended

Americas

 

EMEA

 

Asia-Pacific

 

Corporate (1)

 

Total

May 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

$
45,096 

 

$
36,678 

 

$
13,876 

 

$

 -

 

$
95,650 

Income from operations

$
9,991 

 

$
7,306 

 

$
2,564 

 

$
(4,758)

 

$
15,103 

Depreciation and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

amortization expense

$
1,035 

 

$
384 

 

$
64 

 

$
5 

 

$
1,488 

Interest income

$
3 

 

$
104 

 

$
29 

 

$

 -

 

$
136 

Interest expense

$
266 

 

$

 -

 

$
2 

 

$

 -

 

$
268 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

$
47,677 

 

$
32,758 

 

$
12,668 

 

$

 -

 

$
93,103 

Income from operations

$
11,829 

 

$
6,175 

 

$
2,204 

 

$
(5,250)

 

$
14,958 

Depreciation and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

amortization expense

$
1,030 

 

$
240 

 

$
55 

 

$
2 

 

$
1,327 

Interest income

$

 -

 

$
74 

 

$
31 

 

$

 -

 

$
105 

Interest expense

$
179 

 

$

 -

 

$
3 

 

$

 -

 

$
182 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended

 

 

 

 

 

 

 

 

 

May 31, 2014:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

$
134,366 

 

$
111,305 

 

$
39,704 

 

$

 -

 

$
285,375 

Income from operations

$
29,893 

 

$
24,740 

 

$
8,505 

 

$
(16,016)

 

$
47,122 

Depreciation and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

amortization expense

$
3,193 

 

$
947 

 

$
177 

 

$
20 

 

$
4,337 

Interest income

$
5 

 

$
318 

 

$
102 

 

$

 -

 

$
425 

Interest expense

$
702 

 

$

 -

 

$
7 

 

$

 -

 

$
709 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales

$
133,249 

 

$
101,116 

 

$
40,714 

 

$

 -

 

$
275,079 

Income from operations

$
31,297 

 

$
21,783 

 

$
8,006 

 

$
(15,828)

 

$
45,258 

Depreciation and

 

 

 

 

 

 

 

 

 

 

 

 

 

 

amortization expense

$
2,895 

 

$
721 

 

$
144 

 

$
5 

 

$
3,765 

Interest income

$
1 

 

$
252 

 

$
109 

 

$

 -

 

$
362 

Interest expense

$
476 

 

$

 -

 

$
7 

 

$

 -

 

$
483 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1)

Unallocated corporate expenses are general corporate overhead expenses not directly attributable to any one of the operating segments. These expenses are reported separate from the Company’s identified segments and are included in Selling, General and Administrative expenses on the Company’s condensed consolidated statements of operations. 

 

 

The Company’s Chief Operating Decision Maker does not review assets by segment as part of the financial information provided and therefore, no asset information is provided in the above table.

 

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended May 31,

 

Nine Months Ended May 31,

 

2014

 

2013

 

2014

 

2013

Multi-purpose maintenance products

$
84,817 

 

$
82,150 

 

$
252,607 

 

$
239,343 

Homecare and cleaning products

 
10,833 

 

 
10,953 

 

 
32,768 

 

 
35,736 

Total

$
95,650 

 

$
93,103 

 

$
285,375 

 

$
275,079