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Industry Segment Information
 3 Months Ended
Nov. 30, 2016
Industry Segment Information [Abstract]  
Industry Segment Information

Note 14 – 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 includes 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 included in the amounts disclosed. The Company had no single customer who represented 10 percent or more of its total revenues during the three month periods ended November 30, 2016 and November 30, 2015.  



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 three 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)

 

2016

 

2015

Operating revenues:

 

 

 

 

 

 

     Irrigation

 

$

 89,852 

 

$

 101,327 

     Infrastructure

 

 

 20,538 

 

 

 20,295 

Total operating revenues

 

$

 110,390 

 

$

 121,622 



 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

     Irrigation

 

$

 5,150 

 

$

 12,692 

     Infrastructure

 

 

 2,974 

 

 

 3,082 

Segment operating income

 

 

 8,124 

 

 

 15,774 



 

 

 

 

 

 

Unallocated general and administrative expenses

 

 

 (5,389)

 

 

 (4,026)

Interest and other expense, net

 

 

 (1,400)

 

 

 (1,352)

Earnings before income taxes

 

$

 1,335 

 

$

 10,396 



 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

     Irrigation

 

$

 950 

 

$

 3,152 

     Infrastructure

 

 

 440 

 

 

 1,553 

     Corporate

 

 

 —

 

 

 —



 

$

 1,390 

 

$

 4,705 

Depreciation and amortization:

 

 

 

 

 

 

     Irrigation

 

$

 2,823 

 

$

 2,953 

     Infrastructure

 

 

 1,109 

 

 

 1,201 

     Corporate

 

 

 103 

 

 

 141 



 

$

 4,035 

 

$

 4,295 

 

 

 

 

 

 

 

 







 

 

 

 

 

 

 

 

 



 

November 30,

 

November 30,

 

August 31,

($ in thousands)

 

2016

 

2015

 

2016

Total assets:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 340,711 

 

$

 335,920 

 

$

 341,972 

     Infrastructure

 

 

 80,002 

 

 

 78,551 

 

 

 83,531 

     Corporate

 

 

 60,230 

 

 

 96,798 

 

 

 62,012 



 

$

 480,943 

 

$

 511,269 

 

$

 487,515