XML 42 R30.htm IDEA: XBRL DOCUMENT v3.24.3
Segment Information (Details) - USD ($)
3 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Jun. 30, 2024
Segment Reporting Information [Line Items]      
Revenue $ 165,579,000 $ 197,659,000  
Cost of Revenue (157,766,000) (185,800,000)  
Gross Profit 7,813,000 11,859,000  
Selling, general and administrative expenses 18,580,000 17,113,000  
Operating Income (Loss) $ (10,767,000) (5,254,000)  
Segment Information
Note 8 – Segment Information
We operate 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.
   
Segment assets $ 470,157,000   $ 451,351,000
Storage and Terminal Solutions [Member]      
Segment Reporting Information [Line Items]      
Revenue 78,239,000 90,144,000  
Cost of Revenue 73,542,000 85,191,000  
Gross Profit 4,697,000 4,953,000  
Selling, general and administrative expenses 5,569,000 4,629,000  
Operating Income (Loss) (872,000) $ 324,000  
Segment assets $ 159,049,000   138,529,000
Storage and Terminal Solutions [Member] | Intersegment Eliminations      
Segment Reporting Information [Line Items]      
Segment Information
(1) Total revenues are net of inter-segment revenues which are primarily Process and Industrial Facilities and Storage and Terminal Solutions and were $0.9 million for the three months ended September 30, 2024.
(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $0.8 million for the three months ended September 30, 2023.  
Utility and Power Infrastructure [Member]      
Segment Reporting Information [Line Items]      
Revenue $ 55,912,000 $ 32,395,000  
Cost of Revenue 54,605,000 28,698,000  
Gross Profit 1,307,000 3,697,000  
Selling, general and administrative expenses 3,976,000 1,548,000  
Operating Income (Loss) (2,669,000) 2,149,000  
Segment assets 103,792,000   84,108,000
Process and Industrial Facilities [Member]      
Segment Reporting Information [Line Items]      
Revenue 31,428,000 75,120,000  
Cost of Revenue 29,431,000 70,042,000  
Gross Profit 1,997,000 5,078,000  
Selling, general and administrative expenses 1,766,000 3,087,000  
Operating Income (Loss) 231,000 1,991,000  
Segment assets 37,063,000   81,524,000
Corporate Segment      
Segment Reporting Information [Line Items]      
Revenue 0 0  
Cost of Revenue 188,000 1,869,000  
Gross Profit (188,000) (1,869,000)  
Selling, general and administrative expenses 7,269,000 7,849,000  
Operating Income (Loss) (7,457,000) $ (9,718,000)  
Segment assets $ 170,253,000   $ 147,190,000