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SEGMENT INFORMATION
 9 Months Ended
Sep. 28, 2012
SEGMENT INFORMATION  
SEGMENT INFORMATION

10.                  SEGMENT INFORMATION

 

The Company has four reporting segments: Engineering Services, Energy Efficiency Services, Public Finance Services and Homeland Security Services. The Engineering Services segment consists of Willdan Engineering and Public Agency Resources. The Engineering Services segment offers a broad range of engineering and planning services to our public and private sector clients. The Energy Efficiency Services segment, which consists of Willdan Energy Solutions, provides energy efficiency and sustainability consulting services to utilities, state agencies, municipalities, private industry and non-profit organizations. Prior to December 30, 2011, the energy efficiency and sustainability services were aggregated into the Engineering Services segment. Given the manner in which the chief operating decision maker reviews financial results and allocates resources, these services now compromise a separate reporting segment. Segment information for the comparable prior year period has been restated to conform to the Company’s current segment presentation of four operating segments. The Public Finance Services segment, which consists of Willdan Financial Services, provides expertise and support for the various financing techniques employed by public agencies to finance their operations and infrastructure along with the mandated reporting and other requirements associated with these financings. The Homeland Security Services segment, which consists of Willdan Homeland Solutions, provides national preparedness, homeland security consulting, public safety and emergency response services to cities, related municipal service agencies and other entities.

 

The accounting policies applied to determine the segment information are the same as those described in the summary of significant accounting policies included in the Company’s 2011 Annual Report on Form 10-K filed on March 29, 2012. There were no intersegment sales in the three and nine months ended September 28, 2012. Management evaluates the performance of each segment based upon income or loss from operations before income taxes. Certain segment asset information including expenditures for long-lived assets has not been presented as it is not reported to or reviewed by the chief operating decision maker. In addition, enterprise-wide service line contract revenue is not included as it is impracticable to report this information for each group of similar services.

 

Financial information with respect to the reportable segments as of and for the fiscal three and nine months ended September 28, 2012 and for the fiscal three and nine months ended September 30, 2011 is as follows:

 

 

 

Engineering
Services

 

Energy
Efficiency
Services

 

Public
Finance
Services

 

Homeland
Security
Services

 

Unallocated
Corporate

 

Intersegment

 

Consolidated
Total

 

Fiscal Three Months Ended September 28, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract revenue

 

$

9,314,000

 

$

8,592,000

 

$

2,534,000

 

$

1,107,000

 

$

—

 

$

—

 

$

21,547,000

 

Segment profit (loss) before income taxes

 

224,000

 

863,000

 

334,000

 

(41,000

)

—

 

—

 

1,380,000

 

Net income (loss)

 

73,000

 

521,000

 

217,000

 

(24,000

)

—

 

—

 

787,000

 

Segment assets(1)

 

10,885,000

 

11,712,000

 

3,493,000

 

1,138,000

 

38,287,000

 

(23,129,000

)

42,386,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Three Months Ended September 30, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract revenue

 

$

8,496,000

 

$

16,090,000

 

$

2,502,000

 

$

1,517,000

 

$

—

 

$

—

 

$

28,605,000

 

Segment profit (loss) before income taxes

 

308,000

 

1,513,000

 

549,000

 

(2,000

)

—

 

—

 

2,368,000

 

Net income (loss)

 

252,000

 

1,428,000

 

500,000

 

(15,000

)

—

 

—

 

2,165,000

 

Segment assets(1)

 

10,111,000

 

32,429,000

 

4,080,000

 

2,321,000

 

32,413,000

 

(23,130,000

)

58,224,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Nine Months Ended September 28, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract revenue

 

$

25,454,000

 

$

34,510,000

 

$

7,413,000

 

$

3,119,000

 

$

—

 

$

—

 

$

70,496,000

 

Segment (loss) profit before income taxes

 

(985,000

)

(19,848,000

)

652,000

 

(410,000

)

—

 

—

 

(20,591,000

)

Net (loss) income

 

(712,000

)

(17,049,000

)

413,000

 

(252,000

)

—

 

—

 

(17,600,000

)

Segment assets(1)

 

10,885,000

 

11,712,000

 

3,493,000

 

1,138,000

 

38,287,000

 

(23,129,000

)

42,386,000

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Nine Months Ended September 30, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract revenue

 

$

26,080,000

 

$

39,074,000

 

$

7,382,000

 

$

4,623,000

 

$

—

 

$

—

 

$

77,159,000

 

Segment profit (loss) before income taxes

 

171,000

 

2,364,000

 

698,000

 

(222,000

)

—

 

—

 

3,011,000

 

Net income (loss)

 

132,000

 

2,073,000

 

606,000

 

(202,000

)

—

 

—

 

2,609,000

 

Segment assets(1)

 

10,111,000

 

32,429,000

 

4,080,000

 

2,321,000

 

32,413,000

 

(23,130,000

)

58,224,000

 

 

(1)   Segment assets are presented net of intercompany receivables.