Quarterly report pursuant to Section 13 or 15(d)

Segments

v3.8.0.1
Segments
 9 Months Ended
Sep. 30, 2017
Segments  
Segments

13.         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.   Prior to the acquisition of Dejana on July 15, 2016, the Company operated one operating segment and one reportable business segment which consisted of the manufacture and sale of snow and ice control products. 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 our acquisition of Dejana, were our 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 our 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,

 

 

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
98,002

 

$
100,448

 

$
247,088

 

$
262,860

 

Work Truck Solutions

 
32,243

 

 
27,107

 

 
96,767

 

 
27,107

 

Corporate & Eliminations

 

(4,906)

 

 

(3,982)

 

 

(6,897)

 

 

(3,842)

 

 

$
125,339

 

$
123,573

 

$
336,958

 

$
286,125

 

Selling, general, and administrative expense

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
7,378

 

$
8,005

 

$
22,780

 

$
23,047

 

Work Truck Solutions

 
2,997

 

 
2,934

 

 
11,309

 

 
2,934

 

Corporate & Eliminations

 
2,718

 

 

4,822

 

 
10,985

 

 

12,005

 

 

$
13,093

 

$
15,761

 

$
45,074

 

$
37,986

 

Income from operations

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
23,105

 

$
24,077

 

$
52,186

 

$
62,577

 

Work Truck Solutions

 
1,784

 

 

(377)

 

 

5,143

 

 

(377)

 

Corporate & Eliminations

 

(4,924)

 

 

(7,212)

 

 

(12,660)

 

 

(15,737)

 

 

$

19,965

 

$
16,488

 

$

44,669

 

$
46,463

 

Depreciation Expense

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
1,366

 

$
1,359

 

$
4,085

 

$
4,012

 

Work Truck Solutions

 
408

 

 
209

 

 
1,086

 

 
209

 

Corporate & Eliminations

 
32

 

 
49

 

 
112

 

 
149

 

 

$
1,806

 

$
1,617

 

$
5,283

 

$
4,370

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
471,163

 

$
484,261

 

 

 

 

 

 

 

Work Truck Solutions

 
215,669

 

 
203,403

 

 

 

 

 

 

 

Corporate & Eliminations

 
7,238

 

 
12,398

 

 

 

 

 

 

 

 

$
694,070

 

$
700,062

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
1,470

 

$
1,645

 

$
3,560

 

$
6,439

 

Work Truck Solutions

 
600

 

 
645

 

 
1,656

 

 
645

 

Corporate & Eliminations

 

 -

 

 

 -

 

 

 -

 

 

 -

 

 

$
2,070

 

$
2,290

 

$
5,216

 

$
7,084

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All intersegment sales are eliminated in consolidation.