Industry Segment Information

3 Months Ended

Nov. 30, 2018

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 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 months ended November 30, 2018 and November 30, 2017.

Irrigation - This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems, as well as various innovative technology solutions such as GPS positioning and guidance, variable rate irrigation, wireless irrigation management, M2M communication technology, and smartphone applications. The irrigation reporting segment consists of one operating segment.

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 manufacturing and selling of large diameter steel tubing and railroad signals and structures; and providing outsourced manufacturing and production services. The infrastructure reporting segment consists of one operating segment.

	Three months ended
($ in thousands)	November 30, 2018			November 30, 2017
Operating revenues:
Irrigation:
North America	$	56,464		$	67,752
International		31,146			35,601
Irrigation total		87,610			103,353
Infrastructure		24,341			21,173
Total operating revenues	$	111,951		$	124,526

Operating income:
Irrigation	$	7,783		$	7,851
Infrastructure		4,168			3,291
Corporate		(9,911	)		(4,941	)
Total operating income		2,040			6,201

Interest and other expense, net		(359	)		(1,409	)
Earnings before income taxes	$	1,681		$	4,792

Capital expenditures:
Irrigation	$	2,137		$	1,673
Infrastructure		190			196
Corporate		3,374			122
	$	5,701		$	1,991
Depreciation and amortization:
Irrigation	$	2,332		$	3,079
Infrastructure		965			1,138
Corporate		127			118
	$	3,424		$	4,335

($ in thousands)	November 30, 2018		November 30, 2017		August 31, 2018
Total assets:
Irrigation	$	289,773	$	327,183	$	277,712
Infrastructure		74,671		76,488		69,919
Corporate		138,075		99,736		152,625
	$	502,519	$	503,407	$	500,256