XML 30 R18.htm IDEA: XBRL DOCUMENT v3.8.0.1
Segment Information (Notes)
 6 Months Ended
Dec. 31, 2017
Segment Reporting [Abstract]  
Segment Information
Segment Information
We operate our business through four reportable segments: Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions, and Industrial.
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, and natural gas fired power stations.
The Oil Gas & Chemical segment includes turnaround activities, plant maintenance, engineering and construction in primarily the downstream and midstream petroleum industries. Our customers in these industries are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. Another offering is industrial cleaning services, which include hydroblasting, hydroexcavating, chemical cleaning and vacuum services. We also perform work in the petrochemical, upstream petroleum, and sulfur extraction, recovery and processing markets.
The Storage Solutions segment includes new construction of crude and refined products aboveground storage tanks (“ASTs”), as well as planned and emergency maintenance services. The Storage Solutions segment also includes balance of plant work in storage terminals and tank farms. 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, we offer AST products, including geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems and floating roof seals.
The Industrial segment primarily includes construction and maintenance work in the iron and steel, mining and minerals, and agricultural industries. Our work in the iron and steel industry is primarily for customers engaged in the production of raw steel. Our work in the mining and minerals industry is primarily for customers engaged in the extraction of copper. Our work in the agricultural industry includes the engineering and design of grain silos, docks and handling systems; the design of control system automation and materials handling for the food industry; and engineering, construction, process design and balance of plant work for fertilizer production facilities. We also perform work in bulk material handling, thermal vacuum chambers, and other industrial markets.
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 footnote included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2017. Intersegment sales and transfers are recorded at cost; therefore, no intersegment profit or loss is recognized.
Segment assets consist primarily of cash and cash equivalents, 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)
 
Three Months Ended

Six Months Ended
 
December 31,
2017

December 31,
2016

December 31,
2017

December 31,
2016
Gross revenues







Electrical Infrastructure
$
64,852


$
103,158


$
144,823


$
191,183

Oil Gas & Chemical
88,396


56,913


174,257


94,741

Storage Solutions
71,233


128,927


142,805


328,577

Industrial
59,260


25,026


92,531


47,753

Total gross revenues
$
283,741


$
314,024


$
554,416


$
662,254

Less: Inter-segment revenues







Oil Gas & Chemical
$
37

 
$
1,199

 
$
245

 
$
6,485

Storage Solutions
792

 
170

 
1,349

 
298

Industrial
1

 
—

 
1

 
1,035

Total inter-segment revenues
$
830


$
1,369


$
1,595


$
7,818

Consolidated revenues







Electrical Infrastructure
$
64,852


$
103,158


$
144,823


$
191,183

Oil Gas & Chemical
88,359


55,714


174,012


88,256

Storage Solutions
70,441


128,757


141,456


328,279

Industrial
59,259


25,026


92,530


46,718

Total consolidated revenues
$
282,911


$
312,655


$
552,821


$
654,436

Gross profit







Electrical Infrastructure
$
5,541


$
7,225


$
13,808


$
12,475

Oil Gas & Chemical
11,768


2,431


22,806


2,432

Storage Solutions
5,298


17,071


12,838


43,524

Industrial
4,096


1,485


6,142


2,059

Total gross profit
$
26,703


$
28,212


$
55,594


$
60,490

Operating income (loss)







Electrical Infrastructure
$
1,079

 
$
2,164

 
$
4,656

 
$
3,221

Oil Gas & Chemical
5,198

 
(1,950
)
 
9,332

 
(4,855
)
Storage Solutions
(2,609
)
 
8,242

 
(2,684
)
 
25,015

Industrial
1,506

 
(219
)
 
1,191

 
(843
)
Total operating income
$
5,174


$
8,237


$
12,495


$
22,538


Total assets by segment were as follows:

 
December 31,
2017

June 30,
2017
Electrical Infrastructure
 
$
182,568

 
$
183,351

Oil Gas & Chemical
 
127,278

 
129,177

Storage Solutions
 
114,057

 
166,742

Industrial
 
53,473

 
53,754

Unallocated assets
 
80,490

 
53,006

Total segment assets
 
$
557,866


$
586,030