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Segment Reporting (USD $)
 3 Months Ended
Nov. 30, 2011
Nov. 30, 2010
Segment Reporting    
Segment Reporting Information, Significant Noncash Items Other than Depreciation, Depletion, and Amortization Expense $ (16,204) $ (1,348,652)
Segment Reporting Disclosure [Text Block]

13.          SEGMENT INFORMATION

 

The Company has four principal reportable segments. These reportable segments were determined based on the nature of the products offered.  Reportable segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. 

 

The Company evaluates performance based on several factors, of which the primary financial measure is business segment income before taxes.  The following tables show the operations of the Company's reportable segments.

 

Following is a summary of segmented information for the three month periods ended November 30:

 

 

 

2011

 

2010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

 

 

Industrial wood products

$   1,487,774

 

$   1,835,698

 

 

Lawn, garden, pet and other

3,574,366

 

2,898,006

 

 

Seed processing and sales

1,687,111

 

915,928

 

 

Industrial tools and clamps

491,359

 

435,419

 

 

 

$   7,240,610

 

$   6,085,051

 

 

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

 

Industrial wood products

$       (93,112)

 

$     (151,027)

 

 

Lawn, garden, pet and other

181,791

 

194,297

*

 

Seed processing and sales

97,850

 

41,946

 

 

Industrial tools and clamps

(12,553)

 

22,390

 

 

Unallocated overhead

(27,244)

 

(23,439)

 

 

 

$      146,732

 

$        84,167

 

 

 

 

 

 

 

 

Identifiable assets:

 

 

 

 

 

Industrial wood products

$   3,002,705

 

$   2,453,068

 

 

Lawn, garden, pet and other

15,907,800

 

15,739,788

 

 

Seed processing and sales

1,155,861

 

612,748

 

 

Industrial tools and clamps

623,310

 

558,682

 

 

Unallocated overhead

7,235

 

88,886

 

 

 

$ 20,696,911

 

$ 19,453,172

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

Industrial wood products

$             403

 

$             478

 

 

Lawn, garden, pet and other

55,384

 

59,699

 

 

Seed processing and sales

4,675

 

4,565

 

 

Industrial tools and clamps

736

 

635

 

 

 

$        61,198

 

$        65,377

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

Industrial wood products

$               -

 

$                  -

 

 

Lawn, garden, pet and other

12,813

 

-

 

 

Seed processing and sales

-

 

33,980

 

 

Industrial tools and clamps

-

 

-

 

 

 

$        12,813

 

$        33,980

 

 

 

 

 

 

 

 

Interest expense:

 

 

 

 

 

Lawn, garden, pet and other

$        16,204

 

$      391,988

 

 

* For comparability purposes, this amount excludes one-time charges for litigation reserve ($962,137) and related interest ($391,988).

 

The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the three months ended November 30,

 

 

 

2011

 

2010

 

Sales

$      Nil

 

$     669,747

 

The Company conducts business primarily in the United States, but also has limited amounts of sales in foreign countries. The following table lists sales by country for the quarters ended November 30:

 

 

 

2011

 

2010

 

 

 

 

 

 

United States

$  6,862,527

 

$  5,108,891

 

Canada

250,022

 

617,469

 

Mexico

(42,442)

 

3,217

 

Europe

117,375

 

104,903

 

Asia/Pacific

53,128

 

250,571

 

All of the Company’s significant identifiable assets were located in the United States as of November 30, 2011 and 2010.