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14. Segment Information
 12 Months Ended
Aug. 31, 2015
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 year 2014 has been restated for comparability purposes.

 

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

 

 

 

2015

2014

 

 

 

 

 

 

Sales to unaffiliated customers:

 

 

 

 

 

Industrial wood products

$

4,672,782

$

5,461,293

 

Lawn, garden, pet and other

 

32,904,189

 

32,718,638

 

Seed processing and sales

 

2,776,556

 

2,489,233

 

Industrial tools and clamps

 

1,884,624

 

1,670,399

 

 

$

42,238,151

$

42,339,563

 

 

 

 

 

 

 

Income (loss) before income taxes:

 

 

 

 

 

Industrial wood products

$

91,552

$

  (35,986)

 

Lawn, garden, pet and other

 

2,118,156

 

2,321,075

 

Seed processing and sales

 

(23,096)

 

(55,005)

 

Industrial tools and clamps

 

86,184

 

98,351

 

Corporate and administrative

 

682,780

 

786,795

 

 

$

2,955,576

$

  3,115,230

 

 

 

 

 

 

 

Identifiable assets:

 

 

 

 

 

Industrial wood products

$

1,854,307

$

919,127

 

Lawn, garden, pet and other

 

8,799,762

 

9,861,581

 

Seed processing and sales

 

878,373

 

589,131

 

Industrial tools and clamps

 

856,287

 

768,794

 

Corporate and administrative

 

7,269,690

 

7,553,187

 

 

$

19,658,419

$

19,691,820

 

 

 

 

 

 

 

Depreciation and amortization:

 

 

 

 

 

Industrial wood products

$

981

 

981

 

Lawn, garden, pet and other

 

53,549

$

42,721

 

Seed processing and sales

 

10,899

 

12,622

 

Industrial tools and clamps

 

2,667

 

4,390

 

Corporate and administrative

 

213,666

 

215,626

 

 

$

281,762

$

276,340

 

 

 

 

 

 

 

Capital expenditures:

 

 

 

 

 

Industrial wood products

$

-

$

-

 

Lawn, garden, pet and other

 

-

 

-

 

Seed processing and sales

 

-

 

-

 

Industrial tools and clamps

 

-

 

1,300

 

Corporate and administrative

 

293,380

 

109,025

 

 

$

293,380

$

110,325

 

 

 

 

 

 

 

Interest expense:

$

-

$

-

 

 

 

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:

 

 

 

2015

 

2014

 

 

 

 

 

Sales

$

18,124,573

$

20,968,130

 

 

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:

 

 

 

2015

2014

 

 

 

 

 

United States

$

39,491,806

$

39,679,250

Canada

 

1,166,254

 

894,155

Mexico/Latin America

 

1,452,221

 

1,456,345

Europe

 

-

 

183,753

Asia/Pacific

 

112,746

 

114,365

Middle East

 

12,164

 

11,695

Africa

 

2,960

 

-

 

$

42,238,151

$

42,339,563