| Segment Reporting |
Note 16: 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; the Flooring Manufacturing Segment consists of Marquis; and the Steel Manufacturing Segment consists of Precision Marshall and Kinetic.
The following tables summarize segment information (in 000's):
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For the Three Months Ended December 31, |
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2022 |
|
|
2021 |
|
|
Revenues |
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|
|
|
|
|
|
Retail |
|
$ |
23,273 |
|
|
$ |
26,211 |
|
|
Flooring Manufacturing |
|
|
26,432 |
|
|
|
32,872 |
|
|
Steel Manufacturing |
|
|
17,981 |
|
|
|
12,366 |
|
|
Corporate & Other |
|
|
1,300 |
|
|
|
3,709 |
|
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Total revenues |
|
$ |
68,986 |
|
|
$ |
75,158 |
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|
|
|
|
|
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Gross profit |
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|
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|
|
|
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Retail |
|
$ |
12,210 |
|
|
$ |
13,390 |
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|
Flooring Manufacturing |
|
|
4,661 |
|
|
|
9,029 |
|
|
Steel Manufacturing |
|
|
4,392 |
|
|
|
3,615 |
|
|
Corporate & Other |
|
|
681 |
|
|
|
1,582 |
|
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Total gross profit |
|
$ |
21,944 |
|
|
$ |
27,616 |
|
|
|
|
|
|
|
|
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Operating income (loss) |
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|
|
|
|
|
|
Retail |
|
$ |
3,664 |
|
|
$ |
4,810 |
|
|
Flooring Manufacturing |
|
|
751 |
|
|
|
4,608 |
|
|
Steel Manufacturing |
|
|
1,455 |
|
|
|
1,654 |
|
|
Corporate & Other |
|
|
(1,303 |
) |
|
|
(665 |
) |
|
Total operating income |
|
$ |
4,567 |
|
|
$ |
10,407 |
|
|
|
|
|
|
|
|
|
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Depreciation and amortization |
|
|
|
|
|
|
|
Retail |
|
$ |
311 |
|
|
$ |
340 |
|
|
Flooring Manufacturing |
|
|
1,111 |
|
|
|
779 |
|
|
Steel Manufacturing |
|
|
1,093 |
|
|
|
234 |
|
|
Corporate & Other |
|
|
136 |
|
|
|
196 |
|
|
Total depreciation and amortization |
|
$ |
2,651 |
|
|
$ |
1,549 |
|
|
|
|
|
|
|
|
|
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Interest expense |
|
|
|
|
|
|
|
Retail |
|
$ |
154 |
|
|
$ |
152 |
|
|
Flooring Manufacturing |
|
|
987 |
|
|
|
431 |
|
|
Steel Manufacturing |
|
|
787 |
|
|
|
298 |
|
|
Corporate & Other |
|
|
119 |
|
|
|
136 |
|
|
Total interest expenses |
|
$ |
2,047 |
|
|
$ |
1,017 |
|
|
|
|
|
|
|
|
|
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Net income before provision for income taxes |
|
|
|
|
|
|
|
Retail |
|
$ |
3,538 |
|
|
$ |
4,700 |
|
|
Flooring Manufacturing |
|
|
(313 |
) |
|
|
4,045 |
|
|
Steel Manufacturing |
|
|
268 |
|
|
|
1,313 |
|
|
Corporate & Other |
|
|
(1,034 |
) |
|
|
(552 |
) |
|
Total net income before provision for income taxes |
|
$ |
2,459 |
|
|
$ |
9,506 |
|
|
|