| Segment Reporting |
Note 15: Segment Reporting
The Company operates in four operating segments which are characterized as: (1) Retail, (2) Flooring Manufacturing, (3) Steel Manufacturing, and (4) Corporate and Other. The Retail segment consists of Vintage Stock and ApplianceSmart; the Flooring Manufacturing Segment consists of Marquis; and the Steel Manufacturing Segment consists of Precision Marshall.
The following tables summarize segment information (in $000's):
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For the Three Months Ended March 31, |
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For the Six Months Ended March 31, |
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2022 |
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2021 |
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2022 |
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|
2021 |
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Revenues |
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Retail |
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$ |
20,741 |
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$ |
24,003 |
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$ |
46,952 |
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$ |
46,373 |
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Flooring Manufacturing |
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|
32,772 |
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32,972 |
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65,644 |
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|
63,194 |
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Steel Manufacturing |
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14,027 |
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13,793 |
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26,393 |
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|
23,528 |
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Corporate and Other |
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2,166 |
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|
122 |
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|
5,875 |
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|
249 |
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Total revenues |
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$ |
69,706 |
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$ |
70,890 |
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$ |
144,864 |
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$ |
133,344 |
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Gross profit |
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Retail |
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$ |
11,110 |
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$ |
12,970 |
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$ |
24,500 |
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$ |
25,017 |
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Flooring Manufacturing |
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8,580 |
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10,022 |
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17,609 |
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|
18,347 |
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Steel Manufacturing |
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4,252 |
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|
3,380 |
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|
7,867 |
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|
5,156 |
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Corporate and Other |
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|
1,011 |
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|
118 |
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|
2,593 |
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|
239 |
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Total gross profit |
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$ |
24,953 |
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$ |
26,490 |
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$ |
52,569 |
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$ |
48,759 |
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Operating income (loss) |
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Retail |
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$ |
3,132 |
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$ |
5,071 |
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$ |
7,942 |
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$ |
9,564 |
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Flooring Manufacturing |
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|
3,875 |
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|
6,011 |
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8,483 |
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10,161 |
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Steel Manufacturing |
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2,719 |
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1,742 |
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4,373 |
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1,886 |
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Corporate and Other |
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(1,277 |
) |
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(1,699 |
) |
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(1,942 |
) |
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(3,195 |
) |
Total operating income |
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$ |
8,449 |
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$ |
11,125 |
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$ |
18,856 |
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$ |
18,416 |
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Depreciation and amortization |
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Retail |
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$ |
296 |
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$ |
391 |
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$ |
636 |
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$ |
738 |
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Flooring Manufacturing |
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|
780 |
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|
907 |
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|
1,559 |
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|
|
1,872 |
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Steel Manufacturing |
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|
281 |
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|
396 |
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|
515 |
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|
789 |
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Corporate and Other |
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|
139 |
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|
11 |
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|
335 |
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|
21 |
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Total depreciation and amortization |
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$ |
1,496 |
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$ |
1,705 |
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$ |
3,045 |
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$ |
3,420 |
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Interest expenses |
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Retail |
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$ |
84 |
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$ |
582 |
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$ |
236 |
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$ |
1,242 |
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Flooring Manufacturing |
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|
462 |
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|
648 |
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|
893 |
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|
1,058 |
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Steel Manufacturing |
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|
182 |
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|
288 |
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|
|
479 |
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|
556 |
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Corporate and Other |
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|
130 |
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|
131 |
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|
267 |
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|
263 |
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Total interest expenses |
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$ |
858 |
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$ |
1,649 |
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$ |
1,875 |
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$ |
3,119 |
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Net income (loss) before provision for income taxes |
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Retail |
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$ |
14,593 |
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$ |
4,485 |
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$ |
19,293 |
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$ |
8,658 |
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Flooring Manufacturing |
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|
3,337 |
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|
|
5,171 |
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|
7,382 |
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|
|
8,893 |
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Steel Manufacturing |
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|
2,002 |
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|
|
2,460 |
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|
3,315 |
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|
2,296 |
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Corporate and Other |
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|
(1,051 |
) |
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|
(193 |
) |
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(1,602 |
) |
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(1,195 |
) |
Total net income before provision for income taxes |
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$ |
18,881 |
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$ |
11,923 |
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$ |
28,388 |
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$ |
18,652 |
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