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14. Segment Information
 6 Months Ended
Feb. 28, 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 the six months ended February 28, 2013 has been restated for comparability purposes.

 

Following is a summary of segmented information for the six month periods ended February 28:

 

 

 

 

2014

 

2013

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

 

Industrial wood products

$    3,404,951

 

$  4,072,527

 

Lawn, garden, pet and other

11,929,856

 

15,004,943

 

Seed processing and sales

1,678,862

 

3,501,011

 

Industrial tools and clamps

725,261

 

945,748

 

 

$  17,738,930

 

$  23,524,229

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

Industrial wood products

$       (32,349)

 

$        10,326

 

Lawn, garden, pet and other

499,003

 

1,251,180

 

Seed processing and sales

108,661

 

174,894

 

Industrial tools and clamps

45,225

 

62,649

 

Corporate and administrative

349,584

 

275,310

 

 

$       970,124

 

$   1,774,359

 

 

 

 

 

 

Identifiable assets:

 

 

 

 

Industrial wood products

$    1,366,293

 

$   1,495,878

 

Lawn, garden, pet and other

10,989,146

 

10,637,480

 

Seed processing and sales

632,061

 

924,364

 

Industrial tools and clamps

669,639

 

685,864

 

Corporate and administrative

9,071,339

 

7,665,641

 

 

$  22,728,478

 

$  21,409,227

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

Industrial wood products

$              490

 

$              403

 

Lawn, garden, pet and other

21,194

 

9,767

 

Seed processing and sales

6,508

 

7,740

 

Industrial tools and clamps

2,974

 

2,853

 

Corporate and administrative

108,384

 

100,933

 

 

$      139,550

 

$      121,696

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

Industrial wood products

$                  -

 

$                   -

 

Lawn, garden, pet and other

-

 

                           -

 

Seed processing and sales

-

 

                           -

 

Industrial tools and clamps

1,300

 

-

 

Corporate and administrative

74,075

 

130,790

 

 

$       75,375

 

$       130,790

 

 

 

 

 

 

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 six months ended February 28, 2014 and 2013:

 

 

 

 

 

2014

 

2013

 

 

 

 

 

 

Sales

7,604,958

 

7,338,811

 

 

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, 2014 and 2013:

 

 

 

 

2014

 

2013

 

 

 

 

 

 

United States

16,275,299

 

20,450,160

 

Canada

349,275

 

1,243,522

 

Mexico / Latin America

987,524

 

1,732,181

 

Europe

126,832

 

43,961

 

Asia/Pacific

0

 

54,405

 

All of the Company’s significant identifiable assets were located in the United States as of February 28, 2014 and 2013.