XML 28 R19.htm IDEA: XBRL DOCUMENT v3.3.1.900
13. Segment Information
 6 Months Ended
Feb. 29, 2016
Notes  
13. Segment Information

13.           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.

 

Following is a summary of segmented information for the six month periods ended February 29, 2016 and February 28, 2015:

 

 

 

2016

 

2015

 

 

 

 

Sales to unaffiliated customers:

 

 

 

Industrial wood products

$    2,858,363

 

$     2,120,203

Lawn, garden, pet and other

17,376,563

 

12,733,854

Seed processing and sales

2,348,469

 

1,687,137

Industrial tools and clamps

546,246

 

924,827

 

$  23,129,641

 

$   17,466,021

 

 

 

 

Income (loss) before income taxes:

 

 

 

Industrial wood products

$         44,412

 

$          43,322

Lawn, garden, pet and other

1,048,667

 

419,690

Seed processing and sales

(51,425)

 

129,211

Industrial tools and clamps

(81,262)

 

47,540

Corporate and administrative *

165,574

 

370,923

 

$  1,125,966

 

$     1,010,686

 

 

 

 

Identifiable assets:

 

 

 

Industrial wood products

$     1,457,118

 

$     1,641,934

Lawn, garden, pet and other

8,814,395

 

13,490,158

Seed processing and sales

664,569

 

747,635

Industrial tools and clamps

504,438

 

845,180

Corporate and administrative

8,509,837

 

2,784,469

 

$   19,950,357

 

$   19,509,376

 

 

 

 

Depreciation and amortization:

 

 

 

Industrial wood products

$               490

 

$               490

Lawn, garden, pet and other

23,828

 

27,675

Seed processing and sales

5,332

 

5,473

Industrial tools and clamps

1,199

 

1,401

Corporate and administrative

113,134

 

104,644

 

$       143,983

 

$        139,683

 

 

 

 

Capital expenditures:

 

 

 

Industrial wood products

$                  -

 

$                   -

Lawn, garden, pet and other

-

 

-

Seed processing and sales

-

 

-

Industrial tools and clamps

-

 

-

Corporate and administrative

47,902

 

14,697

 

$        47,902

 

$          14,697

 

 

 

 

Interest expense:

 $                  0

 

$                    0

 

 

*              Litigation expense incurred during the period ended February 29, 2016 of $118,990 is included in this balance (Note 12(a)).

 

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 29, 2016 and February 28, 2015:

 

 

 

2016

 

2015

 

 

 

 

Sales

$    10,958,881

 

$     7,734,187

 

 

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 29, 2016 and February 28, 2015:

 

 

 

2016

 

2015

 

 

 

 

United States

$  20,857,137

 

$  16,438,761

Canada

611,644

 

533,745

Mexico/Latin America

1,601,811

 

462,805

Europe

-

 

-

Asia/Pacific

59,049

 

30,710

 

 

All of the Company’s significant identifiable assets were located in the United States as of February 29, 2016 and February 28, 2015.