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14. Segment Information
 12 Months Ended
Aug. 31, 2014
Notes  
14. Segment Information

14.  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.

 

Effective September 1, 2013, the Company reorganized certain of its subsidiaries. The majority of fixed and intangible assets, and certain Corporate and administrative functions which were formerly contained within the “Lawn, garden, pet and other” reporting segment are now classified as “Corporate and administrative.” The segment information for fiscal years 2014 and 2013 has been restated for comparability purposes.

 

Following is a summary of segmented information for the years ended August 31:

 

 

 

 

2014

2013

 

 

 

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

 

 

 

Industrial wood products

$

5,461,293

$

7,864,264

 

 

Lawn, garden, pet and other

 

32,718,638

 

34,650,583

 

 

Seed processing and sales

 

2,489,233

 

4,707,797

 

 

Industrial tools and clamps

 

1,670,399

 

2,063,503

 

 

 

$

42,339,563

$

49,286,147

 

 

 

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

 

 

Industrial wood products

$

(35,986)

$

12,315

 

 

Lawn, garden, pet and other

 

2,321,075

 

3,931,865

 

 

Seed processing and sales

 

(55,005)

 

26,711

 

 

Industrial tools and clamps

 

98,351

 

132,467

 

 

Corporate and administrative

 

786,795

 

607,715

*

 

 

$

3,115,230

$

4,711,073

 

 

 

 

 

 

 

 

 

Identifiable assets:

 

 

 

 

 

 

Industrial wood products

$

919,127

$

1,145,154

 

 

Lawn, garden, pet and other

 

9,861,581

 

10,209,804

 

 

Seed processing and sales

 

589,131

 

320,193

 

 

Industrial tools and clamps

 

768,794

 

616,472

 

 

Corporate and administrative

 

7,553,187

 

11,366,234

 

 

 

$

19,691,820

$

23,657,857

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

 

Industrial wood products

$

981

$

866

 

 

Lawn, garden, pet and other

 

42,721

 

26,215

 

 

Seed processing and sales

 

12,622

 

15,295

 

 

Industrial tools and clamps

 

4,390

 

6,592

 

 

Corporate and administrative

 

215,626

 

207,519

 

 

 

$

276,340

$

256,487

 

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

 

Industrial wood products

$

-

$

3,602

 

 

Lawn, garden, pet and other

 

0

 

0

 

 

Seed processing and sales

 

-

 

1,476

 

 

Industrial tools and clamps

 

1,300

 

7,379

 

 

Corporate and administrative

 

109,025

 

469,478

 

 

 

$

110,325

$

481,935

 

 

 

 

 

 

 

 

 

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 following table lists sales made by the Company to customers which were in excess of 10% of total sales for the years ended August 31:

 

 

 

 

2014

 

2013

 

 

 

 

 

 

 

Sales

$

20,968,130

$

17,672,338

 

 

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 fiscal years ended August 31:

 

 

 

 

 

2014

 

2013

 

 

 

 

 

 

 

United States

$

39,679,250

$

44,184,875

 

Canada

 

894,155

 

2,126,786

 

Mexico/Latin America

 

1,456,345

 

2,723,535

 

Europe

 

183,753

 

163,791

 

Asia/Pacific

 

114,365

 

87,160

 

Middle East

 

11,695

 

-

 

 

All of the Company’s significant identifiable assets were located in the United States as of August 31, 2014 and 2013.