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Industry Segment Information
 9 Months Ended
May 31, 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 nine months ended May 31, 2017 and May 31, 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 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

 

Nine months ended



 

May 31,

 

May 31,

 

May 31,

 

May 31,

($ in thousands)

 

2017

 

2016

 

2017

 

2016

Operating revenues:

 

 

 

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 120,040 

 

$

 117,325 

 

$

 316,102 

 

$

 321,733 

     Infrastructure

 

 

 31,493 

 

 

 23,994 

 

 

 69,946 

 

 

 61,781 

Total operating revenues

 

$

 151,533 

 

$

 141,319 

 

$

 386,048 

 

$

 383,514 



 

 

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 16,508 

 

$

 16,560 

 

$

 32,961 

 

$

 40,333 

     Infrastructure

 

 

 8,016 

 

 

 4,654 

 

 

 12,588 

 

 

 9,268 

Segment operating income

 

 

 24,524 

 

 

 21,214 

 

 

 45,549 

 

 

 49,601 



 

 

 

 

 

 

 

 

 

 

 

 

Unallocated general and administrative expenses

 

 

 (7,110)

 

 

 (5,889)

 

 

 (16,878)

 

 

 (27,222)

Interest and other expense, net

 

 

 (1,217)

 

 

 (1,260)

 

 

 (3,503)

 

 

 (4,111)

Earnings before income taxes

 

$

 16,197 

 

$

 14,065 

 

$

 25,168 

 

$

 18,268 



 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 1,625 

 

$

 2,108 

 

$

 4,371 

 

$

 7,314 

     Infrastructure

 

 

 131 

 

 

 524 

 

 

 1,235 

 

 

 2,710 

     Corporate

 

 

 269 

 

 

 49 

 

 

 613 

 

 

 49 



 

$

 2,025 

 

$

 2,681 

 

$

 6,219 

 

$

 10,073 

Depreciation and amortization:

 

 

 

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 3,011 

 

$

 2,981 

 

$

 8,714 

 

$

 8,890 

     Infrastructure

 

 

 1,111 

 

 

 1,158 

 

 

 3,330 

 

 

 3,536 

     Corporate

 

 

 95 

 

 

 96 

 

 

 293 

 

 

 345 



 

$

 4,217 

 

$

 4,235 

 

$

 12,337 

 

$

 12,771 



 

 

 

 

 

 

 

 

 

 

 

 









 

 

 

 

 

 

 

 

 



 

May 31,

 

May 31,

 

August 31,

($ in thousands)

 

2017

 

2016

 

2016

Total assets:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 343,722 

 

$

 336,376 

 

$

 332,294 

     Infrastructure

 

 

 84,327 

 

 

 79,025 

 

 

 81,160 

     Corporate

 

 

 83,238 

 

 

 74,159 

 

 

 74,061 



 

$

 511,287 

 

$

 489,560 

 

$

 487,515