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13. Segment Information
 6 Months Ended
Feb. 28, 2013
Notes  
13. Segment Information

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 six month periods ended February 28, 2013 and February 29, 2012:

 

 

 

2013

 

2012

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

 

Industrial wood products

$  4,072,527

 

$    3,707,195

 

Lawn, garden, pet and other

15,004,943

 

10,950,187

 

Seed processing and sales

3,501,011

 

3,260,536

 

Industrial tools and clamps

945,748

 

1,074,489

 

 

$  23,524,229

 

$  18,992,407

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

Industrial wood products

$        10,326

 

$     (120,214)

 

Lawn, garden, pet and other*

1,549,491

 

879,921

 

Seed processing and sales

174,894

 

120,593

 

Industrial tools and clamps

62,649

 

9,548

 

Unallocated overhead

(23,001)

 

(54,477)

 

 

$   1,774,359

 

$       835,371

 

Identifiable assets:

 

 

 

 

Industrial wood products

$   1,495,878

 

$    2,293,515

 

Lawn, garden, pet and other

18,214,218

 

15,102,911

 

Seed processing and sales

924,364

 

380,542

 

Industrial tools and clamps

685,864

 

611,423

 

Unallocated overhead

88,903

 

57,990

 

 

$  21,409,227

 

$  18,446,381

 

Depreciation and amortization:

 

 

 

 

Industrial wood products

$              403

 

$              806

 

Lawn, garden, pet and other

110,700

 

113,017

 

Seed processing and sales

7,740

 

9,367

 

Industrial tools and clamps

2,853

 

2,305

 

 

$      121,696

 

$       125,495

 

Capital expenditures:

 

 

 

Industrial wood products

$                   -

 

$                   -

Lawn, garden, pet and other

130,790

 

19,053

Seed processing and sales

-

 

1,478

Industrial tools and clamps

-

 

10,000

 

$       130,790

 

$        30,531

Interest expense:

 

 

 

Lawn, garden, pet and other

$              400

 

$                  -

 

* For comparability purposes, the 2013 amount excludes gain on sale of property, plant and equipment of $353,852. The 2012 amount excludes reversal of litigation reserve of $1,443,629.

 

The following table lists sales made by the Company to customers which were in excess of 10% of total sales for the six months ended February 28, 2013 and February 29, 2012:

 

 

 

2013

 

2012

Sales

$  7,338,811

 

$  3,025,478

 

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 six months ended February 28, 2013 and February 29, 2012:

 

 

 

 

2013

 

2012

 

 

 

 

United States

$  20,450,160

 

$  17,124,159

Canada

1,243,522

 

1,078,507

Mexico / Latin America

1,732,181

 

449,967

Europe

43,961

 

260,345

Asia/Pacific

54,405

 

79,429

 

All of the Company’s significant identifiable assets were located in the United States as of February 28, 2013 and February 29, 2012.