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Industry Segment Information
 3 Months Ended
Nov. 30, 2013
Industry Segment Information [Abstract]  
Industry Segment Information

Note 12 – Industry Segment Information

Irrigation - This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems as well as various water pumping stations, controls, and filtration solutions.  The irrigation reporting segment consists of thirteen operating segments that have similar economic characteristics and meet the aggregation criteria, including similar products, production processes, type or class of customer and methods for distribution. 

Infrastructure - This reporting segment includes the manufacture and marketing of Road Zipper SystemsTM, moveable barriers, specialty barriers and crash cushions; providing outsource manufacturing services and the manufacturing and selling of large diameter steel tubing and railroad signals and structures.  The infrastructure reporting segment consists of two operating segments that have similar economic characteristics and meet the aggregation criteria, including similar products, production processes, type or class of customer and methods for distribution.

 

The Company evaluates the performance of its reportable segments based on segment sales, gross profit, and operating income, with operating income for segment purposes excluding unallocated corporate general and administrative expenses, interest income, interest expense, other income and expenses, and income taxes.  Operating income for segment purposes does include general and administrative expenses, selling expenses, engineering and research expenses, environmental remediation expenses and other overhead charges directly attributable to the segment. 

 

The Company had no single major customer who represented 10 percent or more of its total revenues during the three months ended November 30, 2013 and 2012.

 

Summarized financial information concerning the Company’s reportable segments is shown in the following tables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

 

November 30,

 

November 30,

($ in thousands)

 

2013

 

2012

Operating revenues:

 

 

 

 

 

 

    Irrigation

 

$
129,183 

 

$
134,217 

    Infrastructure

 

 
18,488 

 

 
13,153 

Total operating revenues

 

$
147,671 

 

$
147,370 

 

 

 

 

 

 

 

Operating income (loss):

 

 

 

 

 

 

    Irrigation

 

$
20,311 

 

$
27,468 

    Infrastructure

 

 
508 

 

 
(1,318)

Segment operating income

 

 
20,819 

 

 
26,150 

Unallocated general and administrative expenses

 

 
(4,827)

 

 
(3,886)

Interest and other income (expense), net

 

 
(175)

 

 
119 

Earnings before income taxes

 

$
15,817 

 

$
22,383 

 

 

 

 

 

 

 

Capital Expenditures:

 

 

 

 

 

 

    Irrigation

 

$
2,228 

 

$
2,085 

    Infrastructure

 

 
159 

 

 
130 

 

 

$
2,387 

 

$
2,215 

Depreciation and Amortization:

 

 

 

 

 

 

    Irrigation

 

$
2,358 

 

$
1,704 

    Infrastructure

 

 
1,349 

 

 
1,426 

 

 

$
3,707 

 

$
3,130 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

November 30,

 

November 30,

 

August 31,

($ in thousands)

 

2013

 

2012

 

2013

Total Assets:

 

 

 

 

 

 

 

 

 

    Irrigation

 

$
395,981 

 

$
331,872 

 

$
391,527 

    Infrastructure

 

 
125,722 

 

 
111,006 

 

 
120,769 

 

 

$
521,703 

 

$
442,878 

 

$
512,296