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Industry Segment Information
 6 Months Ended
Feb. 28, 2017
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 and six months ended February 28, 2017 and February 29, 2016.  



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

 

Six months ended



 

February 28,

 

February 29,

 

February 28,

 

February 29,

($ in thousands)

 

2017

 

2016

 

2017

 

2016

Operating revenues:

 

 

 

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 106,209 

 

$

 103,081 

 

$

 196,061 

 

$

 204,407 

     Infrastructure

 

 

 17,916 

 

 

 17,492 

 

 

 38,454 

 

 

 37,788 

Total operating revenues

 

$

 124,125 

 

$

 120,573 

 

$

 234,515 

 

$

 242,195 



 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 11,304 

 

$

 11,081 

 

$

 16,453 

 

$

 23,773 

     Infrastructure

 

 

 1,595 

 

 

 1,532 

 

 

 4,571 

 

 

 4,614 

Segment operating income

 

 

 12,899 

 

 

 12,613 

 

 

 21,024 

 

 

 28,387 



 

 

 

 

 

 

 

 

 

 

 

 

Unallocated general and administrative expenses

 

 

 (4,377)

 

 

 (17,307)

 

 

 (9,767)

 

 

 (21,333)

Interest and other expense, net

 

 

 (886)

 

 

 (1,499)

 

 

 (2,286)

 

 

 (2,851)

Earnings (loss) before income taxes

 

$

 7,636 

 

$

 (6,193)

 

$

 8,971 

 

$

 4,203 



 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 1,796 

 

$

 2,054 

 

$

 2,746 

 

$

 5,206 

     Infrastructure

 

 

 664 

 

 

 633 

 

 

 1,104 

 

 

 2,186 

     Corporate

 

 

 344 

 

 

 —

 

 

 344 

 

 

 —



 

$

 2,804 

 

$

 2,687 

 

$

 4,194 

 

$

 7,392 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 2,880 

 

$

 2,956 

 

$

 5,703 

 

$

 5,909 

     Infrastructure

 

 

 1,110 

 

 

 1,177 

 

 

 2,219 

 

 

 2,378 

     Corporate

 

 

 95 

 

 

 108 

 

 

 198 

 

 

 249 



 

$

 4,085 

 

$

 4,241 

 

$

 8,120 

 

$

 8,536 



 

 

 

 

 

 

 

 

 

 

 

 









 

 

 

 

 

 

 

 

 



 

February 28,

 

February 29,

 

August 31,

($ in thousands)

 

2017

 

2016

 

2016

Total assets:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 343,067 

 

$

 330,107 

 

$

 332,294 

     Infrastructure

 

 

 73,280 

 

 

 76,191 

 

 

 81,160 

     Corporate

 

 

 74,269 

 

 

 76,972 

 

 

 74,061 



 

$

 490,616 

 

$

 483,270 

 

$

 487,515