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14. Segment Information
 9 Months Ended
May 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 the nine months ended May 31, 2013 has been restated for comparability purposes.

 

Following is a summary of segmented information for the nine month periods ended May 31:

 

 

 

 

2014

 

2013

 

 

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

 

 

Industrial wood products

$    4,439,588

 

$  5,935,267

 

 

Lawn, garden, pet and other

25,472,054

 

26,742,571

 

 

Seed processing and sales

2,045,763

 

4,193,249

 

 

Industrial tools and clamps

1,117,095

 

1,704,651

 

 

 

$  33,074,500

 

$  38,575,738

 

 

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

 

Industrial wood products

$       (41,110)

 

$       (10,469)

 

 

Lawn, garden, pet and other

1,863,335

 

2,801,768

 

 

Seed processing and sales

48,170

 

121,749

 

 

Industrial tools and clamps

63,137

 

110,654

 

 

Corporate and administrative

595,863

 

443,899

*

 

 

$     2,529,395

 

$   3,467,601

 

 

 

 

 

 

 

 

Identifiable assets:

 

 

 

 

 

Industrial wood products

$    1,056,139

 

$   1,659,045

 

 

Lawn, garden, pet and other

11,037,069

 

8,785,144

 

 

Seed processing and sales

435,798

 

111,381

 

 

Industrial tools and clamps

715,657

 

602,305

 

 

Corporate and administrative

7,315,043

 

10,428,333

 

 

 

$  20,559,706

 

$  21,586,208

 

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

Industrial wood products

$              735

 

$              634

 

 

Lawn, garden, pet and other

36,507

 

18,901

 

 

Seed processing and sales

9,565

 

11,549

 

 

Industrial tools and clamps

3,628

 

4,723

 

 

Corporate and administrative

162,259

 

152,624

 

 

 

$      212,694

 

$      188,431

 

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

Industrial wood products

$                  -

 

$           3,602

 

 

Lawn, garden, pet and other

-

 

-

 

 

Seed processing and sales

-

 

1,476

 

 

Industrial tools and clamps

1,300

 

7,379

 

 

Corporate and administrative

92,973

 

171,222

 

 

 

$       94,274

 

$       183,679

 

 

 

 

 

 

 

 

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 nine months ended May 31, 2014 and 2013:

 

 

 

 

2014

 

2013

 

 

 

 

 

 

Sales

$   16,443,767

 

$    12,475,035

 

 

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 nine months ended May 31, 2014 and 2013:

 

 

 

 

2014

 

2013

 

 

 

 

 

 

United States

$  30,761,104

 

$  34,320,602

 

Canada

686,530

 

1,889,696

 

Mexico / Latin America

1,318,436

 

2,256,420

 

Europe

183,753

 

54,615

 

Asia/Pacific

124,677

 

54,405

 

 

$  33,074,500

 

$  38,575,738

 

 

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