Segment Information

We operate our business through four reportable segments: Electrical Infrastructure; Oil Gas & Chemical; Storage Solutions; and Industrial.

The Electrical Infrastructure segment consists of high voltage services provided to investor owned utilities, including construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, as well as emergency and storm restoration services. We also provide construction and maintenance services to a variety of power generation facilities, such as combined cycle plants and other natural gas fired power stations.

The Oil Gas & Chemical segment serves customers primarily in the downstream and midstream petroleum industries who are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. We also perform work in the petrochemical, upstream petroleum, and sulfur extraction, recovery and processing markets. Our services include turnarounds, plant maintenance, engineering and capital construction. We also offer industrial cleaning services including hydro-blasting, hydro-excavating, advanced chemical cleaning and vacuum services.

The Storage Solutions segment consists of work related to aboveground storage tanks ("AST") and terminals. Also included in this segment are cryogenic and other specialty storage tanks and terminals including liquefied natural gas, liquid nitrogen/liquid oxygen, liquid petroleum, other specialty vessels such as spheres as well as marine structures and truck and rail loading/offloading facilities. Our services include engineering, fabrication and construction, and maintenance and repair, which includes planned and emergency services for both tanks and full terminals. 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 consists of work for integrated iron and steel companies, major mining and minerals companies engaged primarily in the extraction of copper, as well as other companies in aerospace and defense, cement, agriculture and grain, food and other industries. Our services include engineering, fabrication and construction, and maintenance and repair, which includes planned and emergency services. We also design instrumentation and control systems and offer specialized expertise in the design and construction of bulk material handling systems.

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, 2018. 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, CIE/BIE, property, plant and equipment, goodwill and other intangible assets.

Results of Operations

(In thousands)



	Three Months Ended					Six Months Ended
	December 31, 2018		December 31, 2017			December 31, 2018		December 31, 2017
Gross revenues
Electrical Infrastructure	$	58,173	$	64,852		$	102,874	$	144,823
Oil Gas & Chemical	87,521		88,396			163,083		174,257
Storage Solutions	126,198		71,233			239,965		142,805
Industrial	70,385		59,260			155,942		92,531
Total gross revenues	$	342,277	$	283,741		$	661,864	$	554,416
Less: Inter-segment revenues
Oil Gas & Chemical	$	1,234	$	37		$	1,305	$	245
Storage Solutions	475		792			1,480		1,349
Industrial	—		1			—		1
Total inter-segment revenues	$	1,709	$	830		$	2,785	$	1,595
Consolidated revenues
Electrical Infrastructure	$	58,173	$	64,852		$	102,874	$	144,823
Oil Gas & Chemical	86,287		88,359			161,778		174,012
Storage Solutions	125,723		70,441			238,485		141,456
Industrial	70,385		59,259			155,942		92,530
Total consolidated revenues	$	340,568	$	282,911		$	659,079	$	552,821
Gross profit
Electrical Infrastructure	$	3,562	$	5,541		$	6,945	$	13,808
Oil Gas & Chemical	9,157		11,768			14,782		22,806
Storage Solutions	11,147		5,298			20,700		12,838
Industrial	4,020		4,096			8,880		6,142
Total gross profit	$	27,886	$	26,703		$	51,307	$	55,594
Operating income (loss)
Electrical Infrastructure	$	438	$	1,079		$	1,095	$	4,656
Oil Gas & Chemical	3,585		5,198			4,099		9,332
Storage Solutions	1,356		(2,609		)	1,641		(2,684		)
Industrial	148		1,506			912		1,191
Total operating income	$	5,527	$	5,174		$	7,747	$	12,495

Total assets by segment were as follows:



	December 31, 2018		June 30, 2018
Electrical Infrastructure	$	147,246	$	161,207
Oil Gas & Chemical	96,801		111,064
Storage Solutions	176,634		149,695
Industrial	61,250		58,816
Unallocated assets	87,621		77,251
Total segment assets	$	569,552	$	558,033