Segment Information (Notes)

6 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

We operate our business through four reportable segments: Electrical Infrastructure, Oil Gas & Chemical, Storage Solutions, and Industrial.

The Electrical Infrastructure segment primarily encompasses construction and maintenance services to a variety of power generation facilities, such as combined cycle plants, natural gas fired power stations, and renewable energy installations. We also provide high voltage services to investor owned utilities, including construction of new substations, upgrades of existing substations, short-run transmission line installations, distribution upgrades and maintenance, and storm restoration services.

The Oil Gas & Chemical segment includes our traditional turnaround activities, plant maintenance services and construction in the downstream petroleum industry. Another key offering is industrial cleaning services, which include hydroblasting, hydroexcavating, chemical cleaning and vacuum services. We also perform work in the petrochemical, natural gas, gas processing and compression, and upstream petroleum markets.

The Storage Solutions segment includes new construction of crude and refined products aboveground storage tanks (“ASTs”), as well as planned and emergency maintenance services. The Storage Solutions segment also includes balance of plant work in storage terminals and tank farms. Also included in the Storage Solutions segment is work related to specialty storage tanks, including liquefied natural gas (“LNG”), liquid nitrogen/liquid oxygen (“LIN/LOX”), liquid petroleum (“LPG”) tanks and other specialty vessels, including spheres. Finally, we offer AST products, including floating roof seals.

The Industrial segment includes construction and maintenance work in the iron and steel and mining and minerals industries, bulk material handling and fertilizer production facilities, thermal vacuum chambers, as well as work for clients in other industrial markets.

The Company evaluates performance and allocates resources based on operating income. The accounting policies of the reportable segments are the same as those described in the Summary of Significant Accounting Policies footnote included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2015. Intersegment sales and transfers are recorded at cost; therefore, no intersegment profit or loss is recognized.

Segment assets consist primarily of cash and cash equivalents, accounts receivable, costs and estimated earnings in excess of billings on uncompleted contracts, property, plant and equipment, goodwill and other intangible assets.

Results of Operations

(In thousands)

	Three Months Ended						Six Months Ended
	December 31, 2015			December 31, 2014			December 31, 2015			December 31, 2014
Gross revenues
Electrical Infrastructure	$	91,398		$	58,533		$	157,023		$	114,206
Oil Gas & Chemical	63,472			76,419			132,431			130,618
Storage Solutions	122,647			129,987			267,217			263,337
Industrial	48,390			79,972			89,725			159,332
Total gross revenues	$	325,907		$	344,911		$	646,396		$	667,493
Less: Inter-segment revenues
Electrical Infrastructure	$	—		$	—		$	—		$	—
Oil Gas & Chemical	1,932			962			2,580			1,802
Storage Solutions	478			182			812			241
Industrial	(32		)	887			144			887
Total inter-segment revenues	$	2,378		$	2,031		$	3,536		$	2,930
Consolidated revenues
Electrical Infrastructure	$	91,398		$	58,533		$	157,023		$	114,206
Oil Gas & Chemical	61,540			75,457			129,851			128,816
Storage Solutions	122,169			129,805			266,405			263,096
Industrial	48,422			79,085			89,581			158,445
Total consolidated revenues	$	323,529		$	342,880		$	642,860		$	664,563
Gross profit (loss)
Electrical Infrastructure	$	4,021		$	(16,058	)	$	8,729		$	(16,547	)
Oil Gas & Chemical	5,971			7,352			11,654			11,738
Storage Solutions	14,426			14,231			34,658			28,749
Industrial	5,587			10,430			9,548			20,394
Total gross profit	$	30,005		$	15,955		$	64,589		$	44,334
Operating income (loss)
Electrical Infrastructure	$	(723	)	$	(18,522	)	$	477		$	(22,178	)
Oil Gas & Chemical	(3,029		)	2,682			(1,613		)	3,260
Storage Solutions	6,374			6,627			17,923			13,730
Industrial	2,313			5,542			3,249			10,064
Total operating income	$	4,935		$	(3,671	)	$	20,036		$	4,876

Total assets by segment were as follows:

	December 31, 2015		June 30, 2015
Electrical Infrastructure	$	148,447	$	129,725
Oil Gas & Chemical	93,098		108,960
Storage Solutions	182,587		172,857
Industrial	77,287		102,761
Unallocated assets	70,729		47,386
Total segment assets	$	572,148	$	561,689