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Segment Information (Notes)

3 Months Ended

Sep. 30, 2019

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 consists of power delivery 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 plant maintenance, turnarounds, 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 and 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 companies in other industries, including aerospace and defense, cement, and agriculture and grain. 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, 2019 and in Note 1 of this Quarterly Report on Form 10-Q. Intersegment sales and transfers are recorded at cost; therefore, no intersegment 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, operating lease right-of-use assets, goodwill and other intangible assets.

Results of Operations

(In thousands)

	Three Months Ended
	September 30, 2019				September 30, 2018
Gross revenues
Electrical Infrastructure	$	31,532			$	44,701
Oil Gas & Chemical	57,786				75,562
Storage Solutions	150,752				113,767
Industrial	99,287				85,557
Total gross revenues	$	339,357			$	319,587
Less: Inter-segment revenues
Oil Gas & Chemical	$	256			$	71
Storage Solutions	685				1,005
Industrial	319				—
Total inter-segment revenues	$	1,260			$	1,076
Consolidated revenues
Electrical Infrastructure	$	31,532			$	44,701
Oil Gas & Chemical	57,530				75,491
Storage Solutions	150,067				112,762
Industrial	98,968				85,557
Total consolidated revenues	$	338,097			$	318,511
Gross profit
Electrical Infrastructure	$	104			$	3,383
Oil Gas & Chemical	3,635				5,625
Storage Solutions	21,055				9,553
Industrial	7,671				4,860
Total gross profit	$	32,465			$	23,421
Operating income (loss)
Electrical Infrastructure	$	(1,844	)		$	657
Oil Gas & Chemical	(1,773		)		514
Storage Solutions	9,452				285
Industrial	2,939				764
Total operating income	$	8,774			$	2,220

Total assets by segment were as follows:

		September 30, 2019				June 30, 2019
Electrical Infrastructure		$	137,643			$	155,880
Oil Gas & Chemical		93,866				91,959
Storage Solutions		206,144				188,912
Industrial		68,091				90,336
Unallocated assets		167,010				106,307
Total segment assets		$	672,754			$	633,394

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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