Industry Segment Information

3 Months Ended

May 31, 2012

Industry Segment Information [Abstract]

Industry Segment Information

(13)Industry Segment Information

The Company manages its business activities in two reportable segments:

Irrigation:This reporting segment includes the manufacture and marketing of center pivot, lateral move, and hose reel irrigation systems as well as various water pumping stations and controls.The irrigation reporting segment consists of twelve operating segments that have similar economic characteristics and meet the aggregation criteria, including similar products, production processes, type or class of customer and methods for distribution.

Infrastructure: This reporting segment includes the manufacture and marketing of moveable barriers, specialty barriers and crash cushions; providing outsource manufacturing services and the manufacturing and selling of large diameter steel tubing and railroad signals and structures.The infrastructure reporting segment consists of three operating segments that have similar economic characteristics and meet the aggregation criteria.

The Company evaluates the performance of its reportable segments based on segment sales, gross profit, and operating income, with operating income for segment purposes excluding unallocated corporate general and administrative expenses, interest income, interest expense, other income and expenses, and income taxes.Operating income for segment purposes does include general and administrative expenses, selling expenses, engineering and research expenses, environmental remediation expenses and other overhead charges directly attributable to the segment.There are no inter-reporting segment sales.

The Company had no single customer representing 10 percent or more of its total revenues during the three and nine months ended May 31, 2012 and 2011. Summarized financial information concerning the Company’s reportable segments is shown in the following table:

	Three months ended				Nine months ended
	May 31,				May 31,
$ in thousands	2012		2011		2012		2011
Operating revenues:
Irrigation	$	149,624	$	126,903	$	367,388	$	278,570
Infrastructure		22,475		26,543		56,050		84,210
Total operating revenues	$	172,099	$	153,446	$	423,438	$	362,780
Operating income (loss):
Irrigation	$	31,242	$	25,584	$	64,046	$	47,490
Infrastructure		1,433		1,081		(699)		9,367
Segment operating income		32,675		26,665		63,347		56,857
Unallocated general and administrative expenses		(3,888)		(3,524)		(10,529)		(10,045)
Interest and other income (expense), net		(200)		18		(363)		(75)
Earnings before income taxes	$	28,587	$	23,159	$	52,455	$	46,737
Total Capital Expenditures:
Irrigation	$	2,662	$	751	$	6,493	$	2,789
Infrastructure		188		162		1,080		2,526
	$	2,850	$	913	$	7,573	$	5,315
Total Depreciation and Amortization:
Irrigation	$	1,710	$	1,329	$	5,055	$	4,069
Infrastructure		1,439		1,611		4,329		4,751
	$	3,149	$	2,940	$	9,384	$	8,820
Total Environmental Remediation Expenses
Irrigation	$	-	$	393	$	6,141	$	999
Infrastructure		-		69		1,084		176
	$	-	$	462	$	7,225	$	1,175

	May 31,		May 31,		August 31,
$ in thousands	2012		2011		2011
Total Assets:
Irrigation	$	304,515	$	268,283	$	267,275
Infrastructure		112,433		109,523		113,869
	$	416,948	$	377,806	$	381,144