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Industry Segment Information
 3 Months Ended
Nov. 30, 2020
Segment Reporting [Abstract]  
Industry Segment Information

Note 13 – 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, 2020 and 2019.

 

 

Irrigation - This reporting segment includes the manufacture and marketing of center pivot, lateral move and hose reel irrigation systems and large diameter steel tubing 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 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 infrastructure reporting segment consists of one operating segment.

Certain immaterial reclassifications have been made to the prior year operating results to conform with current year presentation, as revenues and operating income from certain product lines previously included within the infrastructure reporting segment are now included within the irrigation reporting segment.

 

 

 

Three months ended

 

($ in thousands)

 

November 30,

2020

 

 

November 30,

2019

 

Operating revenues:

 

 

 

 

 

 

 

 

Irrigation:

 

 

 

 

 

 

 

 

   North America

 

$

52,790

 

 

$

53,588

 

   International

 

 

34,566

 

 

 

29,739

 

Irrigation total

 

 

87,356

 

 

 

83,327

 

Infrastructure

 

 

21,129

 

 

 

26,066

 

Total operating revenues

 

$

108,485

 

 

$

109,393

 

 

 

 

 

 

 

 

 

 

Operating income:

 

 

 

 

 

 

 

 

Irrigation

 

$

10,633

 

 

$

9,784

 

Infrastructure

 

 

4,256

 

 

 

8,741

 

Corporate

 

 

(7,354

)

 

 

(6,249

)

Total operating income

 

 

7,535

 

 

 

12,276

 

 

 

 

 

 

 

 

 

 

Interest and other expense, net

 

 

(652

)

 

 

(1,021

)

Earnings before income taxes

 

$

6,883

 

 

$

11,255

 

 

($ in thousands)

 

November 30,

2020

 

 

November 30,

2019

 

 

August 31,

2020

 

Total assets:

 

 

 

 

 

 

 

 

 

 

 

 

Irrigation

 

$

331,045

 

 

$

305,928

 

 

$

307,537

 

Infrastructure

 

 

88,995

 

 

 

84,813

 

 

 

113,111

 

Corporate

 

 

155,162

 

 

 

136,070

 

 

 

149,878

 

 

 

$

575,202

 

 

$

526,811

 

 

$

570,526