Quarterly report pursuant to Section 13 or 15(d)

Segments

v3.5.0.2
Segments
 9 Months Ended
Sep. 30, 2016
Segments  
Segments

13.         Segments

 

As a result of the Dejana acquisition which closed on July 15, 2016, 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, 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, gross margin and operating income. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts.   As Dejana was acquired during the three months ended September 30, 2016 and only one segment existed prior to the Dejana acquisition, only the three months ended September 30, 2016 results are included as all results in prior periods would be included in the Work Truck Attachments segment.   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

 

 

September 30,

 

 

 

2016

 

Net sales

 

 

 

Work Truck Attachments

$
100,509

 

Work Truck Solutions

 
27,107

 

Corporate & Eliminations

 
(4,043)

 

 

$
123,573

 

Gross profit (loss)

 

 

 

Work Truck Attachments

$
33,777

 

Work Truck Solutions

 
5,227

 

Corporate & Eliminations

 
(2,360)

 

 

$
36,644

 

Selling, general, and administrative expense

 

 

 

Work Truck Attachments

 
7,974

 

Work Truck Solutions

 
2,934

 

Corporate & Eliminations

 
4,853

 

 

$
15,761

 

Income (loss) from operations

 

 

 

Work Truck Attachments

$
24,078

 

Work Truck Solutions

 
(377)

 

Corporate & Eliminations

 
(7,213)

 

 

$
16,488

 

Depreciation Expense

 

 

 

Work Truck Attachments

$
1,358

 

Work Truck Solutions

 
209

 

Corporate & Eliminations

 
50

 

 

$
1,617

 

Assets

 

 

 

Work Truck Attachments

$
484,261

 

Work Truck Solutions

 
203,403

 

Corporate & Eliminations

 
12,398

 

 

$
700,062

 

 

 

 

 

All intersegment sales are eliminated in consolidation.