XML 34 R22.htm IDEA: XBRL DOCUMENT v3.3.1.900
Industry Segment Information
 3 Months Ended
Nov. 30, 2015
Industry Segment Information [Abstract]  
Industry Segment Information

Note 15 – Industry Segment Information

The Company manages its business activities in two reportable segments: Irrigation and Infrastructure.  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 and other overhead charges directly attributable to the segment.  There are no inter-segment sales.   The Company had no single major customer who represented 10 percent or more of its total revenues during the three months ended November 30, 2015 and 2014.

 

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, filtration solutions and machine-to-machine (M2M) technology.  The irrigation reporting segment consists of five 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 moveable barriers, specialty barriers, crash cushions and end terminals, and road marking and road safety equipment; the manufacture and sale of large diameter steel tubing and railroad signals and structures; and the provision of outsourced manufacturing and production services.  The infrastructure reporting segment consists of one operating segment.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

 

 

November 30,

 

November 30,

 

($ in thousands)

 

2015

 

2014

 

Operating revenues:

 

 

 

 

 

 

 

    Irrigation

 

$
101,327 

 

$
114,716 

 

    Infrastructure

 

 
20,295 

 

 
20,129 

 

Total operating revenues

 

$
121,622 

 

$
134,845 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

    Irrigation (1)

 

$
12,692 

 

$
14,669 

 

    Infrastructure (1)

 

 
3,082 

 

 
2,244 

 

Segment operating income (1)

 

 
15,774 

 

 
16,913 

 

Unallocated general and administrative expenses

 

 
(4,026)

 

 
(5,011)

 

Interest and other expense, net

 

 
(1,352)

 

 
(241)

 

Earnings before income taxes

 

$
10,396 

 

$
11,661 

 

 

 

 

 

 

 

 

 

Capital Expenditures:

 

 

 

 

 

 

 

    Irrigation

 

$
3,152 

 

$
3,084 

 

    Infrastructure

 

 
1,553 

 

 
565 

 

 

 

$
4,705 

 

$
3,649 

 

Depreciation and Amortization:

 

 

 

 

 

 

 

    Irrigation

 

$
3,094 

 

$
2,486 

 

    Infrastructure

 

 
1,201 

 

 
1,262 

 

 

 

$
4,295 

 

$
3,748 

 

 

 

 

 

 

 

 

 

(1) There were no environmental remediation expenses for the three months ended November 30, 2015. Environmental remediation expenses of $1.3 million and $0.2 million were allocated to the irrigation segment and infrastructure segment, respectively, for the three months ended November 30, 2014.

 

 

 

 

 

 

 

 

 

 

 

 

 

November 30,

 

November 30,

 

August 31,

($ in thousands)

 

2015

 

2014

 

2015

Total Assets:

 

 

 

 

 

 

 

 

 

    Irrigation

 

$
415,106 

 

$
368,577 

 

$
429,224 

    Infrastructure

 

 
106,510 

 

 
121,500 

 

 
107,244 

 

 

$
521,616 

 

$
490,077 

 

$
536,468