Note 18 - Segment Information

3 Months Ended

Feb. 29, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

18) Segment Information

As of February 29, 2024, the Company has two reportable segments: Agricultural Products and Modular Buildings. The Agricultural Products segment manufactures and sells farm equipment and related replacement parts under the Art’s-Way Manufacturing label. The Modular Buildings segment manufactures and installs modular buildings for various uses, commonly animal containment and research laboratories. 

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, 2024
	Agricultural Products			Modular Buildings		Consolidated (Continuing Operations)
Revenue from external customers	$	4,236,000		$	1,487,000	$	5,723,000
Gross profit	$	1,141,000		$	332,000	$	1,473,000
Operating Expense	$	1,568,000		$	286,000	$	1,854,000
Income (loss) from operations	$	(426,000	)	$	46,000	$	(380,000	)
Income (loss) before tax	$	(574,000	)	$	37,000	$	(537,000	)
Total Assets	$	20,470,000		$	2,746,000	$	23,216,000
Capital expenditures	$	184,000		$	97,000	$	281,000
Depreciation & Amortization	$	148,000		$	60,000	$	208,000

	Three Months Ended February 28, 2023
	Agricultural Products		Modular Buildings		Consolidated (Continuing Operations)
Revenue from external customers	$	5,445,000	$	1,642,000	$	7,087,000
Gross profit	$	1,864,000	$	323,000	$	2,187,000
Operating Expense	$	1,362,000	$	282,000	$	1,644,000
Income (loss) from operations	$	502,000	$	41,000	$	543,000
Income (loss) before tax	$	407,000	$	37,000	$	444,000
Total Assets	$	19,761,000	$	3,291,000	$	23,052,000
Capital expenditures	$	252,000	$	44,000	$	296,000
Depreciation & Amortization	$	125,000	$	77,000	$	202,000

*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.