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Segment Information
12 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment Information Segment InformationWe operated our business through three reportable segments:
Storage and Terminal Solutions: primarily consists of engineering, procurement, fabrication, and construction services related to cryogenic and other specialty tanks and terminals for LNG, NGLs, hydrogen, ammonia, propane, butane, liquid nitrogen/liquid oxygen, and liquid petroleum. We also perform work related to traditional aboveground crude oil and refined product storage tanks and terminals. This segment also includes terminal balance of plant work,
truck and rail loading/offloading facilities, and marine structures as well as storage tank and terminal maintenance and repair. Finally, we manufacture and sell precision engineered specialty tank products, including geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems and floating roof seals.
Utility and Power Infrastructure: primarily consists of engineering, procurement, fabrication, and construction services to support growing demand for LNG utility peak shaving facilities. We also perform traditional electrical work for public and private utilities, including construction of new substations, upgrades of existing substations, transmission and distribution line installations, and upgrades and maintenance including live wire work. Work may also include emergency and storm restoration services. We also provide construction services to a variety of power generation facilities, including natural gas fired facilities in simple or combined cycle configurations.
Process and Industrial Facilities: primarily consists of plant maintenance, repair, and turnarounds in the downstream and midstream markets for energy clients including refining and processing of crude oil, fractionating, and marketing of natural gas and natural gas liquids. We also perform engineering, procurement, fabrication, and construction for refinery upgrades and retrofits for renewable fuels, including hydrogen processing, production, loading and distribution facilities. We also construct thermal vacuum test chambers for aerospace and defense industries and other infrastructure for industries including petrochemical, sulfur, mining and minerals primarily in the extraction of non-ferrous metals, cement, agriculture, wastewater treatment facilities and other industrial customers.
We evaluate performance and allocate resources based on operating income. We eliminate intersegment sales; therefore, no intercompany profit or loss is recognized. Corporate selling, general and administrative expenses, including corporate salaries and facilities costs, are excluded from our three reportable segments in order to align controllable costs with the responsibility of segment management, and to be consistent with how our chief operating decision-maker assesses segment performance and allocates resources. Segment assets consist primarily of accounts receivable, costs and estimated earnings in excess of billings on uncompleted contracts, property, plant and equipment, right-of-use lease assets, goodwill and other intangible assets.

Operating Segment Information - The following tables set forth certain selected financial information for our operating segments for the periods indicated:

(In thousands)

Storage and Terminal SolutionsUtility and Power InfrastructureProcess and Industrial FacilitiesCorporateTotal
Fiscal Year Ended June 30, 2024
Total revenue (1)
$276,800 $183,920 $266,260 $1,233 $728,213 
Cost of revenue(265,503)(174,688)(244,408)(3,141)(687,740)
Gross profit (loss)11,297 9,232 21,852 (1,908)40,473 
Selling, general and administrative expenses19,823 8,844 10,354 31,064 70,085 
Restructuring costs— 52 215 234 501 
Operating income (loss)$(8,526)$336 $11,283 $(33,206)$(30,113)
(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $2.4 million for the year ended June 30, 2024.
Storage and Terminal SolutionsUtility and Power InfrastructureProcess and Industrial FacilitiesCorporateTotal
Fiscal Year Ended June 30, 2023
Total revenue (1)
$255,693 $169,504 $369,823 $— $795,020 
Cost of revenue(245,223)(158,805)(359,067)(1,105)(764,200)
Gross profit (loss)10,470 10,699 10,756 (1,105)30,820 
Selling, general and administrative expenses20,054 7,045 14,909 26,241 68,249 
Goodwill impairment— — 12,316 — 12,316 
Restructuring costs969 37 972 1,164 3,142 
Operating income (loss)$(10,553)$3,617 $(17,441)$(28,510)$(52,887)
(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $5.6 million for the year ended June 30, 2023.
Storage and Terminal SolutionsUtility and Power InfrastructureProcess and Industrial FacilitiesCorporateTotal
Fiscal Year Ended June 30, 2022
Total revenue (1)
$232,839 $220,093 $254,848 $— $707,780 
Cost of revenue(232,577)(228,679)(245,578)(2,152)(708,986)
Gross profit (loss)262 (8,586)9,270 (2,152)(1,206)
Selling, general and administrative expenses17,284 11,771 12,506 26,129 67,690 
Goodwill impairment7,208 2,659 8,445 — 18,312 
Restructuring costs122 87 (1,578)2,015 646 
Operating loss$(24,352)$(23,103)$(10,103)$(30,296)$(87,854)
(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions, $3.4 million, and Process and Industrial Solutions, $3.6 million, for the year ended June 30, 2022.
Total Assets by Segment
June 30, 2024June 30, 2023June 30, 2022
(In thousands)
Storage and Terminal Solutions$138,529 $139,333 $141,084 
Utility and Power Infrastructure84,108 67,630 94,059 
Process and Industrial Facilities81,524 90,514 104,078 
Corporate147,190 103,027 101,572 
Total Segment Assets$451,351 $400,504 $440,793 
Geographical Disaggregation of Long-Lived Assets
The following table presents our long-lived tangible assets including property, plant and equipment, net, and operating right-of-use lease assets at June 30, 2024, 2023 and 2022:
June 30, 2024June 30, 2023June 30, 2022
(In thousands)
United States$57,520 $63,174 $69,932 
Canada1,368 1,957 1,397 
Other international3,760 4,213 4,607 
Total Long-Lived Assets$62,648 $69,344 $75,936 
Information about Significant Customers:
Significant Customers as a Percentage of Segment Revenue
ConsolidatedStorage and Terminal
Solutions
Utility and Power
Infrastructure
Process and Industrial Facilities
Fiscal Year ended June 30, 2024
Customer one10.5 %27.7 %— %— %
Customer two10.3 %— %— %28.2 %
Fiscal Year ended June 30, 2023
Customer one10.7 %— %— %22.9 %
Fiscal Year ended June 30, 2022
Customer one12.3 %0.8 %— %33.5 %
Customer two11.0 %— %35.5 %— %