| Segment Reporting |
Note 17: Segment Reporting
The Company operates in four operating segments which are characterized as: (1) Retail-Entertainment, (2) Retail-Flooring, (3) Flooring Manufacturing, (4) Steel Manufacturing, and (5) Corporate and Other. The Retail-Entertainment segment consists of Vintage Stock; the Retail-Flooring segment consists of Flooring Liquidators,; 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):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended March 31, |
|
|
For the Six Months Ended March 31, |
|
|
|
2023 |
|
|
2022 |
|
|
2023 |
|
|
2022 |
|
Revenues |
|
|
|
|
|
|
|
|
|
|
|
|
Retail-Entertainment |
|
$ |
19,188 |
|
|
$ |
20,741 |
|
|
$ |
42,461 |
|
|
$ |
46,952 |
|
Retail-Flooring |
|
|
20,769 |
|
|
|
— |
|
|
|
20,769 |
|
|
|
— |
|
Flooring Manufacturing |
|
|
30,340 |
|
|
|
32,772 |
|
|
|
56,772 |
|
|
|
65,644 |
|
Steel Manufacturing |
|
|
19,916 |
|
|
|
14,027 |
|
|
|
37,897 |
|
|
|
26,393 |
|
Corporate & Other |
|
|
909 |
|
|
|
2,166 |
|
|
|
2,209 |
|
|
|
5,875 |
|
Total revenues |
|
$ |
91,122 |
|
|
$ |
69,706 |
|
|
$ |
160,108 |
|
|
$ |
144,864 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
|
|
|
|
|
|
|
|
|
|
Retail-Entertainment |
|
$ |
10,654 |
|
|
$ |
11,110 |
|
|
$ |
22,864 |
|
|
$ |
24,500 |
|
Retail-Flooring |
|
|
7,742 |
|
|
|
— |
|
|
|
7,742 |
|
|
|
— |
|
Flooring Manufacturing |
|
|
7,328 |
|
|
|
8,580 |
|
|
|
11,989 |
|
|
|
17,609 |
|
Steel Manufacturing |
|
|
5,647 |
|
|
|
4,252 |
|
|
|
10,040 |
|
|
|
7,867 |
|
Corporate & Other |
|
|
237 |
|
|
|
1,011 |
|
|
|
917 |
|
|
|
2,593 |
|
Total gross profit |
|
$ |
31,608 |
|
|
$ |
24,953 |
|
|
$ |
53,552 |
|
|
$ |
52,569 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
Retail-Entertainment |
|
$ |
2,327 |
|
|
$ |
3,132 |
|
|
$ |
5,991 |
|
|
$ |
7,942 |
|
Retail-Flooring |
|
|
(216 |
) |
|
|
— |
|
|
|
(216 |
) |
|
|
— |
|
Flooring Manufacturing |
|
|
2,406 |
|
|
|
3,875 |
|
|
|
3,158 |
|
|
|
8,483 |
|
Steel Manufacturing |
|
|
2,814 |
|
|
|
2,719 |
|
|
|
4,270 |
|
|
|
4,373 |
|
Corporate & Other |
|
|
(2,379 |
) |
|
|
(1,277 |
) |
|
|
(3,684 |
) |
|
|
(1,942 |
) |
Total operating income |
|
$ |
4,952 |
|
|
$ |
8,449 |
|
|
$ |
9,519 |
|
|
$ |
18,856 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
|
Retail-Entertainment |
|
$ |
321 |
|
|
$ |
296 |
|
|
$ |
633 |
|
|
$ |
636 |
|
Retail-Flooring |
|
|
995 |
|
|
|
— |
|
|
|
995 |
|
|
|
— |
|
Flooring Manufacturing |
|
|
1,082 |
|
|
|
780 |
|
|
|
2,193 |
|
|
|
1,559 |
|
Steel Manufacturing |
|
|
1,114 |
|
|
|
281 |
|
|
|
2,207 |
|
|
|
515 |
|
Corporate & Other |
|
|
133 |
|
|
|
139 |
|
|
|
269 |
|
|
|
335 |
|
Total depreciation and amortization |
|
$ |
3,645 |
|
|
$ |
1,496 |
|
|
$ |
6,297 |
|
|
$ |
3,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense |
|
|
|
|
|
|
|
|
|
|
|
|
Retail-Entertainment |
|
$ |
152 |
|
|
$ |
84 |
|
|
$ |
306 |
|
|
$ |
236 |
|
Retail-Flooring |
|
|
1,021 |
|
|
|
— |
|
|
|
1,021 |
|
|
|
— |
|
Flooring Manufacturing |
|
|
1,067 |
|
|
|
462 |
|
|
|
2,054 |
|
|
|
893 |
|
Steel Manufacturing |
|
|
841 |
|
|
|
182 |
|
|
|
1,628 |
|
|
|
479 |
|
Corporate & Other |
|
|
154 |
|
|
|
130 |
|
|
|
273 |
|
|
|
267 |
|
Total interest expenses |
|
$ |
3,235 |
|
|
$ |
858 |
|
|
$ |
5,282 |
|
|
$ |
1,875 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income before provision for income taxes |
|
|
|
|
|
|
|
|
|
|
|
|
Retail-Entertainment |
|
$ |
2,178 |
|
|
$ |
14,593 |
|
|
$ |
5,716 |
|
|
$ |
19,293 |
|
Retail-Flooring |
|
|
(1,390 |
) |
|
|
— |
|
|
|
(1,390 |
) |
|
|
— |
|
Flooring Manufacturing |
|
|
1,214 |
|
|
|
3,337 |
|
|
|
901 |
|
|
|
7,382 |
|
Steel Manufacturing |
|
|
1,715 |
|
|
|
2,002 |
|
|
|
1,983 |
|
|
|
3,315 |
|
Corporate & Other |
|
|
(1,609 |
) |
|
|
(1,051 |
) |
|
|
(2,643 |
) |
|
|
(1,603 |
) |
Total net income before provision for income taxes |
|
$ |
2,108 |
|
|
$ |
18,881 |
|
|
$ |
4,567 |
|
|
$ |
28,387 |
|
|