Quarterly report pursuant to Section 13 or 15(d)

Segments

v3.10.0.1
Segments
9 Months Ended
Sep. 30, 2018
Segments  
Segments

15.         Segments

 

The Company operates through two operating segments for which separate financial information is available, and for which operating results are evaluated regularly by the Company's chief operating decision maker in determining resource allocation and assessing performance. The Company’s two current reportable business segments are described below. 

 

Work Truck Attachments.  The Work Truck Attachments segment includes snow and ice management attachments sold under the FISHER®, WESTERN®, HENDERSON® and SNOWEX® brands.  This segment consists of our operations that, prior to the Company’s acquisition of Dejana, were the Company’s single operating segment, consisting of the manufacture and sale of snow and ice control products.

 

Work Truck Solutions.  The Work Truck Solutions segment, which was created as a result of the Dejana acquisition, includes the up-fit of market leading attachments and storage solutions for commercial work vehicles under the DEJANA® brand and its related sub-brands.

 

Segment performance is evaluated based on segment net sales and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts. No single customer’s revenues amounted to 10% or more of the Company’s total revenue. Sales are primarily within the United States and substantially all assets are located within the United States.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Three Months Ended

 

Nine Months Ended

 

Nine Months Ended

 

 

September 30,

 

September 30,

 

September 30,

 

September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

93,532

 

$

98,002

 

$

268,285

 

$

247,088

 

Work Truck Solutions

 

34,704

 

 

32,243

 

 

110,563

 

 

96,767

 

Corporate & Eliminations

 

(3,404)

 

 

(4,906)

 

 

(6,606)

 

 

(6,897)

 

 

$

124,832

 

$

125,339

 

$

372,242

 

$

336,958

 

Selling, general, and administrative expense

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

9,219

 

$

7,378

 

$

24,549

 

$

22,780

 

Work Truck Solutions

 

5,113

 

 

2,997

 

 

15,927

 

 

11,309

 

Corporate & Eliminations

 

2,260

 

 

2,539

 

 

12,805

 

 

10,448

 

 

$

16,592

 

$

12,914

 

$

53,281

 

$

44,537

 

Income (loss) from operations

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

18,456

 

$

23,105

 

$

61,339

 

$

52,186

 

Work Truck Solutions

 

135

 

 

1,784

 

 

1,988

 

 

5,143

 

Corporate & Eliminations

 

(3,131)

 

 

(4,745)

 

 

(14,417)

 

 

(12,123)

 

 

$

15,460

 

$

20,144

 

$

48,910

 

$

45,206

 

Depreciation Expense

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

1,467

 

$

1,366

 

$

4,244

 

$

4,085

 

Work Truck Solutions

 

416

 

 

408

 

 

1,283

 

 

1,086

 

Corporate & Eliminations

 

33

 

 

32

 

 

83

 

 

112

 

 

$

1,916

 

$

1,806

 

$

5,610

 

$

5,283

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

482,371

 

$

471,163

 

 

 

 

 

 

 

Work Truck Solutions

 

220,088

 

 

215,669

 

 

 

 

 

 

 

Corporate & Eliminations

 

10,281

 

 

7,238

 

 

 

 

 

 

 

 

$

712,740

 

$

694,070

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

1,726

 

$

1,470

 

$

4,609

 

$

3,560

 

Work Truck Solutions

 

497

 

 

600

 

 

1,693

 

 

1,656

 

 

$

2,223

 

$

2,070

 

$

6,302

 

$

5,216

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All intersegment sales are eliminated in consolidation.