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14. Segment Information
 3 Months Ended
Nov. 30, 2013
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 the quarter ended November 30, 2012 has been restated for comparability purposes.

 

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

 

 

2013

 

2012

 

 

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

Industrial wood products

$   1,457,246

 

$   2,361,471 

Lawn, garden, pet and other

5,443,943

 

4,772,939

Seed processing and sales

740,742

 

1,810,645

Industrial tools and clamps

364,350

 

351,350

 

$   8,006,281

 

$   9,296,405

 

 

 

 

Income (loss) before income taxes:

 

 

 

Industrial wood products

$       (11,424)

 

$        62,545   

Lawn, garden, pet and other

258,917

 

414,204

Seed processing and sales

73,648

 

109,004

Industrial tools and clamps

37,264

 

34,732

Corporate and administrative

196,289

 

168,610

 

$       554,694

 

$       789,095

 

 

 

 

Identifiable assets:

 

 

 

Industrial wood products

$    1,440,281

 

$    1,840,340

Lawn, garden, pet and other

8,929,943

 

7,029,438

Seed processing and sales

196,819

 

727,220

Industrial tools and clamps

616,992

 

609,409

Corporate and administrative

11,049,258

 

10,029,664

 

$  22,233,293

 

$  20,236,071

 

 

 

 

Depreciation and amortization:

 

 

 

Industrial wood products

$              245

 

$              403

Lawn, garden, pet and other

10,101

 

1,352

Seed processing and sales

3,450

 

3,884

Industrial tools and clamps

1,904

 

1,426

Corporate and administrative

54,319

 

50,429

 

$        70,019

 

$         57,494

 

 

 

 

Capital expenditures:

 

 

 

Industrial wood products

$                  -

 

$                  -

Lawn, garden, pet and other

-

 

-

Seed processing and sales

-

 

-

Industrial tools and clamps

-

 

-

Corporate and administrative

57,918

 

112,133

 

$        57,918

 

$      112,133

 

 

 

 

Interest expense:

 

 

 

Lawn, garden, pet and other

$                  -

 

$                  -

 

 

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:

 

 

 

2013

 

2012

Sales

$   3,314,699   

 

$   1,926,150

 

 

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 quarter ended November 30:

 

 

 

2013

 

2012

 

 

 

 

United States

$  7,399,773

 

$  7,680,338

Canada

137,935

 

467,597

Mexico/Latin America

379,032

 

1,097,390

Europe

89,541

 

33,306

Asia/Pacific

-

 

17,774

 

 

All of the Company’s significant identifiable assets were located in the United States as of November 30, 2013 and 2012.