Quarterly report pursuant to Section 13 or 15(d)

Segments

v3.7.0.1
Segments
 3 Months Ended
Mar. 31, 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

 

 

March 31,

 

March 31,

 

 

 

2017

 

 

2016

 

Net sales

 

 

 

 

 

 

Work Truck Attachments

$
43,578

 

$
48,624

 

Work Truck Solutions

 
29,659

 

 

 -

 

Corporate & Eliminations

 

(989)

 

 

165

 

 

$
72,248

 

$
48,789

 

Selling, general, and administrative expense

 

 

 

 

 

 

Work Truck Attachments

$
6,949

 

$
7,032

 

Work Truck Solutions

 
3,772

 

 

 -

 

Corporate & Eliminations

 
4,335

 

 
3,881

 

 

$
15,056

 

$
10,913

 

Income (loss) from operations

 

 

 

 

 

 

Work Truck Attachments

$
1,992

 

$
6,048

 

Work Truck Solutions

 

818

 

 

 -

 

Corporate & Eliminations

 

(3,428)

 

 

(4,556)

 

 

$

(618)

 

$
1,492

 

Depreciation Expense

 

 

 

 

 

 

Work Truck Attachments

$
1,377

 

$
1,333

 

Work Truck Solutions

 
315

 

 

 -

 

Corporate & Eliminations

 
44

 

 
50

 

 

$
1,736

 

$
1,383

 

Assets

 

 

 

 

 

 

Work Truck Attachments

$
429,452

 

$
431,399

 

Work Truck Solutions

 
202,045

 

 

 -

 

Corporate & Eliminations

 
19,716

 

 
55,190

 

 

$
651,213

 

$
486,589

 

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

Work Truck Attachments

$
873

 

$
1,165

 

Work Truck Solutions

 
433

 

 

 -

 

Corporate & Eliminations

 

 -

 

 

 -

 

 

$
1,306

 

$
1,165

 

 

 

 

 

 

 

 

All intersegment sales are eliminated in consolidation.