Note 3 - Revenue Recognition

3 Months Ended

Feb. 28, 2019

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3 ) Revenue Recognition

The following table displays revenue by reportable segment from external customers, disaggregated by major source. The Company believes disaggregating by these categories depicts how the nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factors.

	Three Months Ended February 28, 2019
	Agricultural		Modular Buildings		Tools		Total
Farm equipment	$	2,092,000	$	-	$	-	$	2,092,000
Farm equipment service parts		460,000		-		-		460,000
Steel cutting tools and inserts		-		-		484,000		484,000
Modular buildings		-		795,000		-		795,000
Modular building lease income		-		179,000		-		179,000
Other		58,000		48,000		8,000		114,000
	$	2,610,000	$	1,022,000	$	492,000	$	4,124,000

	Three Months Ended February 28, 2018
	Agricultural		Modular Buildings		Tools		Total
Farm equipment	$	3,253,000	$	-	$	-	$	3,253,000
Farm equipment service parts		586,000		-		-		586,000
Steel cutting tools and inserts		-		-		688,000		688,000
Modular buildings		-		674,000		-		674,000
Modular building lease income		-		49,000		-		49,000
Other		91,000		16,000		9,000		116,000
	$	3,930,000	$	739,000	$	697,000	$	5,366,000

The following table provides information about contract receivables, contract assets, and contract liabilities from contracts with customers included on the Condensed Consolidated Balance Sheets.

	February 28, 2019		November 30, 2018
Receivables	$	65,000	$	159,000
Assets		380,000		99,000
Liabilities		478,000		185,000

The amount of revenue recognized in the

first

quarter of fiscal

2019

that was included in a contract liability at

November 30, 2018

was

$185,013

compared to

$252,769

in the

first

quarter of fiscal

2018.