Note 17 - Segment Information

6 Months Ended

May 31, 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 May 31, 2020
	Agricultural Products			Modular Buildings			Tools			Consolidated
Revenue from external customers	$	3,071,000		$	1,799,000		$	576,000		$	5,446,000
Income (loss) from operations		(722,000	)		(124,000	)		(79,000	)		(925,000	)
Income (loss) before tax		(784,000	)		(126,000	)		(87,000	)		(997,000	)
Total Assets		13,948,000			3,772,000			2,660,000			20,380,000
Capital expenditures		56,000			85,000			-			141,000
Depreciation & Amortization		127,000			71,000			33,000			231,000

	Three Months Ended May 31, 2019
	Agricultural Products			Modular Buildings			Tools			Consolidated
Revenue from external customers	$	3,637,000		$	1,558,000		$	552,000		$	5,747,000
Income (loss) from operations		(297,000	)		(63,000	)		(10,000	)		(370,000	)
Income (loss) before tax		(382,000	)		(56,000	)		(21,000	)		(459,000	)
Total Assets		14,730,000			4,127,000			2,502,000			21,359,000
Capital expenditures		76,000			30,000			27,000			133,000
Depreciation & Amortization		124,000			104,000			32,000			260,000

	Six Months Ended May 31, 2020
	Agricultural Products			Modular Buildings			Tools			Consolidated
Revenue from external customers	$	6,023,000		$	3,256,000		$	1,193,000		$	10,472,000
Income (loss) from operations		(1,156,000	)		(118,000	)		(120,000	)		(1,394,000	)
Income (loss) before tax		(1,282,000	)		(120,000	)		(139,000	)		(1,541,000	)
Total Assets		13,948,000			3,772,000			2,660,000			20,380,000
Capital expenditures		298,000			111,000			3,000			412,000
Depreciation & Amortization		254,000			139,000			66,000			459,000

	Six Months Ended May 31, 2019
	Agricultural Products			Modular Buildings			Tools			Consolidated
Revenue from external customers	$	6,247,000		$	2,580,000		$	1,044,000		$	9,871,000
Income (loss) from operations		(898,000	)		(161,000	)		(33,000	)	$	(1,092,000	)
Income (loss) before tax		(1,031,000	)		(156,000	)		(53,000	)	$	(1,240,000	)
Total Assets		14,730,000			4,127,000			2,502,000		$	21,359,000
Capital expenditures		110,000			48,000			28,000		$	186,000
Depreciation & Amortization		249,000			236,000			64,000		$	549,000

*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.