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Segment Information
 6 Months Ended
Dec. 31, 2011
Segment Information [Abstract]  
Segment Information

Note 10 – Segment Information

The Company has two reportable segments, the Construction Services segment and the Repair and Maintenance Services segment.

The primary services of our Construction Services segment are aboveground storage tanks for the bulk storage/terminal industry, capital construction for the downstream petroleum industry, specialty construction, and electrical/instrumentation services for various industries. These services, including civil/structural, mechanical, piping, electrical and instrumentation, millwrighting, and fabrication, are provided for projects of varying complexities, schedule durations, and budgets. Our project experience includes renovations, retrofits, modifications and expansions to existing facilities as well as construction of new facilities.

The primary services of our Repair and Maintenance Services segment are aboveground storage tank repair and maintenance services including tank inspection, cleaning and ASME code repairs, planned major and routine maintenance for the downstream petroleum industry and electrical and instrumentation repair and maintenance.

Other consists of capital expenditures that relate to corporate assets as well as the 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 is recognized.

Segment assets consist primarily of accounts receivable, costs and estimated earnings in excess of billings on uncompleted contracts, property, plant and equipment, goodwill and other intangible assets.

 

Results of Operations

(in thousands)

     Construction
Services		      Repair and
Maintenance
Services		      Other      Total  

Three Months Ended December 31, 2011

            

Gross revenues

    $ 122,532       $ 82,076       $ —         $ 204,608   

Less: Inter-segment revenues

      3,634         10         —           3,644   
  

 

 

     

 

 

     

 

 

     

 

 

  

Consolidated revenues

      118,898         82,066         —           200,964   

Gross profit

      13,598         9,500         —           23,098   

Operating income

      6,086         5,114         —           11,200   

Segment assets

      163,654         104,170         47,774         315,598   

Capital expenditures

      1,543         1,100         1,128         3,771   

Depreciation and amortization expense

      1,736         1,176         —           2,912   

Three Months Ended December 31, 2010

            

Gross revenues

    $ 107,886       $ 69,855       $ —         $ 177,741   

Less: Inter-segment revenues

      2,282         207         —           2,489   
  

 

 

     

 

 

     

 

 

     

 

 

  

Consolidated revenues

      105,604         69,648         —           175,252   

Gross profit

      12,815         6,953         —           19,768   

Operating income

      6,144         2,488         —           8,632   

Segment assets

      141,477         101,964         47,504         290,945   

Capital expenditures

      1,286         93         891         2,270   

Depreciation and amortization expense

      1,516         1,209         —           2,725   

Six Months Ended December 31, 2011

            

Gross revenues

    $ 225,397       $ 152,098       $ —         $ 377,495   

Less: Inter-segment revenues

      6,902         308         —           7,210   
  

 

 

     

 

 

     

 

 

     

 

 

  

Consolidated revenues

      218,495         151,790         —           370,285   

Gross profit

      24,469         16,722         —           41,191   

Operating income

      9,996         7,814         —           17,810   

Segment assets

      163,654         104,170         47,774         315,598   

Capital expenditures

      3,329         1,791         1,639         6,759   

Depreciation and amortization expense

      3,407         2,331         —           5,738   

Six Months Ended December 31, 2010

            

Gross revenues

    $ 207,506       $ 124,286       $ —         $ 331,792   

Less: Inter-segment revenues

      4,388         314         —           4,702   
  

 

 

     

 

 

     

 

 

     

 

 

  

Consolidated revenues

      203,118         123,972         —           327,090   

Gross profit

      24,159         11,311         —           35,470   

Operating income

      10,923         2,822         —           13,745   

Segment assets

      141,477         101,964         47,504         290,945   

Capital expenditures

      2,158         331         2,040         4,529   

Depreciation and amortization expense

      3,065         2,458         —           5,523   

 

Segment revenue from external customers by market is as follows:

 

     Construction
Services		      Repair and
Maintenance
Services		      Total  
     (In thousands)  

Three Months Ended December 31, 2011

         

Aboveground Storage Tanks

    $ 55,090       $ 28,435       $ 83,525   

Downstream Petroleum

      33,317         31,267         64,584   

Electrical and Instrumentation

      24,836         22,364         47,200   

Specialty

      5,655         —           5,655   
  

 

 

     

 

 

     

 

 

  

Total

    $ 118,898       $ 82,066       $ 200,964   
  

 

 

     

 

 

     

 

 

  

Three Months Ended December 31, 2010

         

Aboveground Storage Tanks

    $ 49,545       $ 21,868       $ 71,413   

Downstream Petroleum

      22,648         28,386         51,034   

Electrical and Instrumentation

      27,385         19,394         46,779   

Specialty

      6,026         —           6,026   
  

 

 

     

 

 

     

 

 

  

Total

    $ 105,604       $ 69,648       $ 175,252   
  

 

 

     

 

 

     

 

 

  

Six Months Ended December 31, 2011

         

Aboveground Storage Tanks

    $ 113,744       $ 53,034       $ 166,778   

Downstream Petroleum

      52,938         63,155         116,093   

Electrical and Instrumentation

      39,875         35,601         75,476   

Specialty

      11,938         —           11,938   
  

 

 

     

 

 

     

 

 

  

Total

    $ 218,495       $ 151,790       $ 370,285   
  

 

 

     

 

 

     

 

 

  

Six Months Ended December 31, 2010

         

Aboveground Storage Tanks

    $ 90,325       $ 43,100       $ 133,425   

Downstream Petroleum

      43,575         50,792         94,367   

Electrical and Instrumentation

      57,307         30,080         87,387   

Specialty

      11,911         —           11,911   
  

 

 

     

 

 

     

 

 

  

Total

    $ 203,118       $ 123,972       $ 327,090