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Industry Segment Information
 3 Months Ended
Nov. 30, 2017
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 three months ended November 30, 2017 and November 30, 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



 

November 30,

 

November 30,

($ in thousands)

 

2017

 

2016

Operating revenues:

 

 

 

 

 

 

Irrigation

 

$

 103,353 

 

$

 89,852 

Infrastructure

 

 

 21,173 

 

 

 20,538 

Total operating revenues

 

$

 124,526 

 

$

 110,390 



 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

Irrigation

 

$

 7,851 

 

$

 5,150 

Infrastructure

 

 

 3,291 

 

 

 2,974 

Segment operating income

 

 

 11,142 

 

 

 8,124 



 

 

 

 

 

 

Unallocated general and administrative expenses

 

 

 (4,941)

 

 

 (5,389)

Interest and other expense, net

 

 

 (1,409)

 

 

 (1,400)

Earnings before income taxes

 

$

 4,792 

 

$

 1,335 



 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

Irrigation

 

$

 1,673 

 

$

 950 

Infrastructure

 

 

 196 

 

 

 440 

Corporate

 

 

 122 

 

 

 —



 

$

 1,991 

 

$

 1,390 

Depreciation and amortization:

 

 

 

 

 

 

Irrigation

 

$

 3,079 

 

$

 2,823 

Infrastructure

 

 

 1,138 

 

 

 1,109 

Corporate

 

 

 118 

 

 

 103 



 

$

 4,335 

 

$

 4,035 



 

 

 

 

 

 









 

 

 

 

 

 

 

 

 



 

November 30,

 

November 30,

 

August 31,

($ in thousands)

 

2017

 

2016

 

2017

Total assets:

 

 

 

 

 

 

 

 

 

     Irrigation

 

$

 327,183 

 

$

 340,711 

 

$

 337,446 

     Infrastructure

 

 

 76,488 

 

 

 80,002 

 

 

 80,187 

     Corporate

 

 

 99,736 

 

 

 60,230 

 

 

 88,399 



 

$

 503,407 

 

$

 480,943 

 

$

 506,032