Note 17 - Segment Information

3 Months Ended

Feb. 29, 2020

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.

	Three Months Ended February 29, 2020
	Agricultural Products			Modular Buildings		Tools			Consolidated
Revenue from external customers	$	2,953,000		$	1,457,000	$	616,000		$	5,026,000
Income (loss) from operations		(435,000	)		6,000		(41,000	)		(470,000	)
Income (loss) before tax		(498,000	)		6,000		(52,000	)		(544,000	)
Total Assets		13,870,000			4,373,000		2,757,000			21,000,000
Capital expenditures		241,000			26,000		-			267,000
Depreciation & Amortization		126,000			68,000		33,000			227,000

	Three Months Ended February 28, 2019
	Agricultural Products			Modular Buildings			Tools			Consolidated
Revenue from external customers	$	2,610,000		$	1,022,000		$	492,000		$	4,124,000
Income (loss) from operations		(602,000	)		(98,000	)		(23,000	)		(723,000	)
Income (loss) before tax		(649,000	)		(99,000	)		(32,000	)		(780,000	)
Total Assets		14,852,000			3,564,000			2,487,000			20,903,000
Capital expenditures		34,000			18,000			1,000			53,000
Depreciation & Amortization		125,000			132,000			32,000			289,000

*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.