Quarterly report pursuant to Section 13 or 15(d)

Segments

v3.10.0.1
Segments
6 Months Ended
Jun. 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

 

Six Months Ended

 

Six Months Ended

 

 

June 30,

 

June 30,

 

June 30,

 

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Net sales

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

127,294

 

$

105,508

 

$

174,753

 

$

149,086

 

Work Truck Solutions

 

37,146

 

 

34,865

 

 

75,859

 

 

64,524

 

Corporate & Eliminations

 

(994)

 

 

(1,002)

 

 

(3,202)

 

 

(1,991)

 

 

$

163,446

 

$

139,371

 

$

247,410

 

$

211,619

 

Selling, general, and administrative expense

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

8,317

 

$

8,453

 

$

15,330

 

$

15,402

 

Work Truck Solutions

 

5,756

 

 

4,540

 

 

10,814

 

 

8,312

 

Corporate & Eliminations

 

6,470

 

 

3,753

 

 

10,545

 

 

7,909

 

 

$

20,543

 

$

16,746

 

$

36,689

 

$

31,623

 

Income (loss) from operations

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

38,787

 

$

27,089

 

$

42,883

 

$

29,081

 

Work Truck Solutions

 

500

 

 

2,541

 

 

1,853

 

 

3,359

 

Corporate & Eliminations

 

(6,847)

 

 

(4,129)

 

 

(11,286)

 

 

(7,378)

 

 

$

32,440

 

$

25,501

 

$

33,450

 

$

25,062

 

Depreciation Expense

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

1,406

 

$

1,342

 

$

2,777

 

$

2,719

 

Work Truck Solutions

 

439

 

 

363

 

 

867

 

 

678

 

Corporate & Eliminations

 

19

 

 

36

 

 

50

 

 

80

 

 

$

1,864

 

$

1,741

 

$

3,694

 

$

3,477

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

450,916

 

$

446,670

 

 

 

 

 

 

 

Work Truck Solutions

 

210,536

 

 

215,602

 

 

 

 

 

 

 

Corporate & Eliminations

 

7,235

 

 

11,237

 

 

 

 

 

 

 

 

$

668,687

 

$

673,509

 

 

 

 

 

 

 

Capital Expenditures

 

 

 

 

 

 

 

 

 

 

 

 

Work Truck Attachments

$

2,523

 

$

1,217

 

$

2,883

 

$

2,090

 

Work Truck Solutions

 

1,046

 

 

623

 

 

1,196

 

 

1,056

 

 

$

3,569

 

$

1,840

 

$

4,079

 

$

3,146

 

 

 

 

 

 

 

 

 

 

 

 

 

 

All intersegment sales are eliminated in consolidation.