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Segment Information | 12 Months Ended
--- | ---
Jun. 30, 2012
Segment Information [Abstract] |
Segment Information | Note 14—Segment Information The Company completed an update of its long-term business strategy in the third quarter of fiscal 2012. This strategic update along with certain changes in our organizational structure led to a reassessment of our operating segments. As a result of these events, we have revised our reportable segments to better align with the current management of the business. Accordingly, our new segments are: Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions, and Industrial. Our previous operating segments were Construction Services and Repair and Maintenance Services. The Electrical Infrastructure segment primarily encompasses high voltage services to investor owned utilities, including construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services. We also provide construction and maintenance services to a variety of power generation facilities, such as combined cycle plants, nuclear facilities, coal fired power stations, and renewable energy installations. The Oil Gas & Chemical segment includes our traditional turnaround activities, plant maintenance services and construction in the downstream petroleum industry. Another key offering is industrial cleaning services, which include hydroblasting, hydroexcavating, chemical cleaning and vacuum services. We also perform work in the renewable energy, industrial and natural gas, gas processing and compression, and upstream petroleum markets. The Storage Solutions segment includes new construction of, as well as planned and emergency maintenance services for crude and refined products aboveground storage tanks. Also included in the Storage Solutions segment is work related to specialty storage tanks including liquefied natural gas (“LNG”), liquid nitrogen/liquid oxygen (“LIN/LOX”), liquid petroleum (“LPG”) tanks and other specialty vessels including spheres. Finally, the Storage Solutions segment includes balance of plant work in storage terminals and tank farms. The Industrial segment includes work in the mining and minerals industry, bulk material handling, thermal vacuum chambers, as well as work for clients in other industrial and manufacturing markets. Other consists of corporate asset balances. The Company evaluates performance and allocates resources based on operating income. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies. Intersegment sales and transfers are recorded at cost; therefore, no intercompany profit or loss recognized. Segment assets consist primarily of accounts receivable, costs and estimated earnings in excess of billings on uncompleted contracts, property, plant and equipment and goodwill. Results of Operations (In thousands)
|  | Electrical Infrastructure |  |  | Oil Gas & Chemical |  |  | Storage Solutions |  |  | Industrial |  |  | Other |  |  | Total |
Twelve Months Ended June 30, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenues |  | $ | 135,086 |  |  | $ | 206,031 |  |  | $ | 380,488 |  |  | $ | 19,983 |  |  | $ | — |  |  | $ | 741,588 |
Less: inter-segment revenues |  |  | — |  |  |  | 208 |  |  |  | 2,334 |  |  |  | — |  |  |  | — |  |  |  | 2,542 |
Consolidated revenues |  |  | 135,086 |  |  |  | 205,823 |  |  |  | 378,154 |  |  |  | 19,983 |  |  |  | — |  |  |  | 739,046 |
Gross profit |  |  | 16,676 |  |  |  | 20,070 |  |  |  | 42,393 |  |  |  | 479 |  |  |  | — |  |  |  | 79,618 |
Operating income (loss) |  |  | 7,609 |  |  |  | 8,134 |  |  |  | 17,493 |  |  |  | (1,601 | ) |  |  | — |  |  |  | 31,635 |
Segment assets |  |  | 51,998 |  |  |  | 53,567 |  |  |  | 150,543 |  |  |  | 14,018 |  |  |  | 53,009 |  |  |  | 323,135 |
Capital expenditures |  |  | 2,581 |  |  |  | 2,346 |  |  |  | 3,929 |  |  |  | 741 |  |  |  | 3,937 |  |  |  | 13,534 |
Depreciation and amortization expense |  |  | 1,823 |  |  |  | 2,838 |  |  |  | 6,309 |  |  |  | 515 |  |  |  | — |  |  |  | 11,485 |
Twelve Months Ended June 30, 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenues |  | $ | 151,065 |  |  | $ | 143,753 |  |  | $ | 299,762 |  |  | $ | 33,934 |  |  | $ | — |  |  | $ | 628,514 |
Less: inter-segment revenues |  |  | 7 |  |  |  | 399 |  |  |  | 1,056 |  |  |  | — |  |  |  | — |  |  |  | 1,462 |
Consolidated revenues |  |  | 151,058 |  |  |  | 143,354 |  |  |  | 298,706 |  |  |  | 33,934 |  |  |  | — |  |  |  | 627,052 |
Gross profit |  |  | 18,337 |  |  |  | 13,647 |  |  |  | 38,779 |  |  |  | 4,151 |  |  |  | — |  |  |  | 74,914 |
Operating income |  |  | 9,111 |  |  |  | 3,105 |  |  |  | 16,612 |  |  |  | 2,072 |  |  |  | — |  |  |  | 30,900 |
Segment assets |  |  | 46,411 |  |  |  | 42,801 |  |  |  | 131,050 |  |  |  | 19,542 |  |  |  | 66,632 |  |  |  | 306,436 |
Capital expenditures |  |  | 2,511 |  |  |  | 908 |  |  |  | 4,098 |  |  |  | 9 |  |  |  | 2,890 |  |  |  | 10,416 |
Depreciation and amortization expense |  |  | 1,613 |  |  |  | 2,490 |  |  |  | 6,533 |  |  |  | 431 |  |  |  | — |  |  |  | 11,067 |
Twelve Months Ended June 30, 2010 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross revenues |  | $ | 103,015 |  |  | $ | 150,344 |  |  | $ | 272,305 |  |  | $ | 27,622 |  |  | $ | — |  |  | $ | 553,286 |
Less: inter-segment revenues |  |  | 21 |  |  |  | 1,460 |  |  |  | 991 |  |  |  | — |  |  |  | — |  |  |  | 2,472 |
Consolidated revenues |  |  | 102,994 |  |  |  | 148,884 |  |  |  | 271,314 |  |  |  | 27,622 |  |  |  | — |  |  |  | 550,814 |
Gross profit |  |  | 13,289 |  |  |  | 9,121 |  |  |  | 27,806 |  |  |  | 2,706 |  |  |  | — |  |  |  | 52,922 |
Operating income (loss) |  |  | 3,501 |  |  |  | (849 | ) |  |  | 6,183 |  |  |  | (1,082 | ) |  |  | — |  |  |  | 7,753 |
Segment assets |  |  | 47,456 |  |  |  | 43,603 |  |  |  | 121,919 |  |  |  | 11,341 |  |  |  | 60,489 |  |  |  | 284,808 |
Capital expenditures |  |  | 266 |  |  |  | 365 |  |  |  | 1,440 |  |  |  | — |  |  |  | 3,231 |  |  |  | 5,302 |
Depreciation and amortization expense |  |  | 1,299 |  |  |  | 2,869 |  |  |  | 7,220 |  |  |  | 363 |  |  |  | — |  |  |  | 11,751 |
Geographical information is as follows:
|  | Revenues |
|  | Twelve Months Ended |
|  | June 30, 2012 |  |  | June 30, 2011 |  |  | June 30, 2010 |
|  | (In thousands) |
Domestic |  | $ | 674,496 |  |  | $ | 596,756 |  |  | $ | 518,750 |
International |  |  | 64,550 |  |  |  | 30,296 |  |  |  | 32,064 |
|  | $ | 739,046 |  |  | $ | 627,052 |  |  | $ | 550,814 |
|  | Long-Lived Assets |
|  | June 30, 2012 |  |  | June 30, 2011 |  |  | June 30, 2010 |
|  | (In thousands) |
Domestic |  | $ | 85,290 |  |  | $ | 83,312 |  |  | $ | 81,424 |
International |  |  | 6,132 |  |  |  | 6,693 |  |  |  | 4,517 |
|  | $ | 91,422 |  |  | $ | 90,005 |  |  | $ | 85,941 |
Information about Significant Customers In fiscal 2012, one customer accounted for 11.0% of our consolidated revenue and 35.1% of our Oil Gas & Chemical revenue and an additional customer accounted for 16.2% of our Oil Gas & Chemical revenue. Another customer accounted for 10.7% of our consolidated revenue and 20.9% of our Storage Solutions revenue. Three other customers accounted for 18.6%, 11.8% and 11.2% of our Electrical Infrastructure revenue, respectively. An additional four customers accounted for 25.7%, 18.1%,15.3% and 12.2% of our Industrial revenue, respectively. In fiscal 2011, three customers accounted for 34.9%, 20.3% and 11.5% of our Electrical Infrastructure revenue, respectively. Another customer accounted for 38.4% of our Oil Gas & Chemical revenue. An additional four customers accounted for 13.2%, 13.1%, 12.3% and 11.4% of our Storage Solutions revenue, respectively. Three other customers accounted for 31.9%, 21.8% and 16.7% of our Industrial revenue, respectively. No customers accounted for greater than 10% of our consolidated revenue. In fiscal 2010, one customer accounted for 52.8% of our Electrical Infrastructure revenue. Two other customers accounted for 30.2% and 11.1% of our Oil Gas & Chemical revenue, respectively. One additional customer accounted for 10.9% of our Storage Solutions revenue. Three other customers accounted for 29.9%, 14.4% and 12.3% of our Industrial revenue, respectively. No customers accounted for greater than 10% of our consolidated revenue. Matrix Service Company Quarterly Financial Data (Unaudited) Fiscal Years Ended June 30, 2012 and June 30, 2011
|  | First Quarter |  |  | Second Quarter |  |  | Third Quarter |  |  | Fourth Quarter(a) |
|  | (In thousands, except per share amounts) |
Fiscal Year 2012 |  |  |  |
Revenues |  | $ | 169,321 |  |  | $ | 200,964 |  |  | $ | 183,899 |  |  | $ | 184,862 |
Gross profit |  |  | 18,093 |  |  |  | 23,098 |  |  |  | 19,771 |  |  |  | 18,656 |
Operating income |  |  | 6,610 |  |  |  | 11,200 |  |  |  | 7,415 |  |  |  | 6,410 |
Net income |  |  | 3,509 |  |  |  | 7,031 |  |  |  | 4,862 |  |  |  | 1,786 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 0.13 |  |  |  | 0.27 |  |  |  | 0.19 |  |  |  | 0.07 |
Diluted |  |  | 0.13 |  |  |  | 0.27 |  |  |  | 0.19 |  |  |  | 0.07 |
Fiscal Year 2011 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenues |  | $ | 151,838 |  |  | $ | 175,252 |  |  | $ | 136,333 |  |  | $ | 163,629 |
Gross profit |  |  | 15,702 |  |  |  | 19,768 |  |  |  | 18,570 |  |  |  | 20,874 |
Operating income |  |  | 5,113 |  |  |  | 8,632 |  |  |  | 7,640 |  |  |  | 9,515 |
Net income |  |  | 3,089 |  |  |  | 5,287 |  |  |  | 4,923 |  |  |  | 5,683 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 0.12 |  |  |  | 0.20 |  |  |  | 0.19 |  |  |  | 0.21 |
Diluted |  |  | 0.12 |  |  |  | 0.20 |  |  |  | 0.18 |  |  |  | 0.21 |
(a) | Fourth quarter earnings included an income tax charge of $3.1 million. The income tax charge represents adjustments of $2.1 million for prior fiscal years and $1.0 million in fiscal 2012, of which $0.2 million related to fourth quarter activity.
The sum of earnings per share for the four quarters may not equal the total earnings per share for the year due to changes in the average number of common shares outstanding and rounding.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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