Industry Segment Information

3 Months Ended

Nov. 30, 2019

Note 16 – 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, 2019 and 2018.

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, remote irrigation management and scheduling technology, irrigation consulting and design and industrial “internet of things”, or IoT, solutions. 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, 2019			November 30, 2018
Operating revenues:
Irrigation:
North America	$	52,613		$	56,464
International		29,739			31,146
Irrigation total		82,352			87,610
Infrastructure		27,041			24,341
Total operating revenues	$	109,393		$	111,951

Operating income:
Irrigation	$	9,757		$	7,783
Infrastructure		8,768			4,168
Corporate		(6,249	)		(9,911	)
Total operating income		12,276			2,040

Interest and other expense, net		(1,021	)		(359	)
Earnings before income taxes	$	11,255		$	1,681

Capital expenditures:
Irrigation	$	3,042		$	2,137
Infrastructure		1,112			190
Corporate		168			3,374
	$	4,322		$	5,701
Depreciation and amortization:
Irrigation	$	3,104		$	2,332
Infrastructure		919			965
Corporate		725			127
	$	4,748		$	3,424

($ in thousands)	November 30, 2019		November 30, 2018		August 31, 2019
Total assets:
Irrigation	$	305,928	$	289,773	$	292,202
Infrastructure		84,813		74,671		85,848
Corporate		136,070		137,643		122,264
	$	526,811	$	502,087	$	500,314