Note 17 - Segment Information

9 Months Ended

Aug. 31, 2019

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

17 ) Segment Information

The Company has

three

reportable segments: agricultural products, modular buildings and tools. The agricultural products segment manufactures and sells farm equipment and related replacement parts under the Art’s-Way Manufacturing label and private labels. The modular buildings segment manufactures and installs modular buildings for various uses, commonly animal containment and research laboratories. The tools segment manufactures steel cutting tools and inserts.

The accounting policies applied to determine the segment information are the same as those described in the summary of significant accounting policies. Management evaluates the performance of each segment based on profit or loss from operations before income taxes, exclusive of nonrecurring gains and losses.

Approximate financial information with respect to the reportable segments is as follows. The tables below exclude income and balance sheet data from discontinued operations. See Note

4

“Discontinued Operations.”

	Three Months Ended August 31, 2019
	Agricultural Products			Modular Buildings		Tools			Consolidated*
Revenue from external customers	$	3,194,000		$	1,802,000	$	508,000		$	5,504,000
Income (loss) from operations		(435,000	)		146,000		(16,000	)		(305,000	)
Income (loss) before tax		(496,000	)		151,000		(25,000	)		(370,000	)
Total Assets		14,383,000			3,917,000		2,568,000			20,868,000
Capital expenditures		92,000			75,000		15,000			182,000
Depreciation & Amortization		126,000			66,000		32,000			224,000

	Three Months Ended August 31, 2018
	Agricultural Products			Modular Buildings			Tools		Consolidated*
Revenue from external customers	$	3,913,000		$	773,000		$	594,000	$	5,280,000
Income (loss) from operations		(450,000	)		(141,000	)		32,000		(559,000	)
Income (loss) before tax		(835,000	)		(136,000	)		22,000		(949,000	)
Total Assets		15,999,000			3,692,000			2,484,000		22,175,000
Capital expenditures		92,000			13,000			-		105,000
Depreciation & Amortization		126,000			116,000			31,000		273,000

	Nine Months Ended August 31, 2019
	Agricultural Products			Modular Buildings			Tools			Consolidated*
Revenue from external customers	$	9,441,000		$	4,382,000		$	1,552,000		$	15,375,000
Income (loss) from operations		(1,334,000	)		(14,000	)		(49,000	)		(1,397,000	)
Income (loss) before tax		(1,527,000	)		(4,000	)		(79,000	)		(1,610,000	)
Total Assets		14,383,000			3,917,000			2,568,000			20,868,000
Capital expenditures		201,000			123,000			43,000			367,000
Depreciation & Amortization		375,000			303,000			96,000			774,000

	Nine Months Ended August 31, 2018
	Agricultural Products			Modular Buildings			Tools			Consolidated*
Revenue from external customers	$	11,778,000		$	2,346,000		$	1,816,000		$	15,940,000
Income (loss) from operations		(988,000	)		(347,000	)		9,000			(1,326,000	)
Income (loss) before tax		(1,680,000	)		(330,000	)		(24,000	)		(2,034,000	)
Total Assets		15,999,000			3,692,000			2,484,000			22,175,000
Capital expenditures		163,000			99,000			4,000			266,000
Depreciation & Amortization		391,000			196,000			95,000			682,000

*The consolidated total in the tables is a sum of segment figures and

may

not

tie to actual figures in the condensed consolidated financial statements due to rounding.