Annual report pursuant to Section 13 and 15(d)

Segments

v3.8.0.1
Segments
 12 Months Ended
Dec. 31, 2017
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 the Company’s operations that, prior to the acquisition of Dejana, was a 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 upfit 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, gross margin and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts that include various support functions, such as information technology, corporate finance, legal, executive administration and human resources. 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.

The following table shows summarized financial information concerning the Company’s reportable segments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

Net sales

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
350,564

 

$
360,638

 

$
399,907

 

Work Truck Solutions

 
137,770

 

 
65,044

 

 

 -

 

Corporate & Eliminations

 

(13,407)

 

 

(9,414)

 

 

501

 

 

$
474,927

 

$
416,268

 

$
400,408

 

Selling, general, and administrative expense

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
31,398

 

$
31,181

 

$
33,307

 

Work Truck Solutions

 
15,138

 

 
7,303

 

 

 -

 

Corporate & Eliminations

 
15,058

 

 
15,776

 

 
14,843

 

 

$
61,594

 

$
54,260

 

$
48,150

 

Income (loss) from operations

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
78,088

 

$
85,888

 

$
93,489

 

Work Truck Solutions

 

9,825

 

 

3,077

 

 

 -

 

Corporate & Eliminations

 

(17,822)

 

 

(19,847)

 

 

(16,138)

 

 

$
70,091

 

$
69,118

 

$
77,351

 

Depreciation Expense

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
5,533

 

$
5,377

 

$
4,723

 

Work Truck Solutions

 
1,507

 

 
572

 

 

 -

 

Corporate & Eliminations

 
143

 

 
197

 

 
196

 

 

$
7,183

 

$
6,146

 

$
4,919

 

 

 

 

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
425,148

 

$
439,937

 

$
452,077

 

Work Truck Solutions

 
220,211

 

 
203,811

 

 

 -

 

Corporate & Eliminations

 
39,817

 

 
22,425

 

 
44,935

 

 

$
685,176

 

$
666,173

 

$
497,012

 

 

 

 

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$
6,408

 

$
8,752

 

$
9,980

 

Work Truck Solutions

 
1,972

 

 
1,078

 

 

 -

 

Corporate & Eliminations

 

 -

 

 

 -

 

 
29

 

 

$
8,380

 

$
9,830

 

$
10,009