Segment Information (Notes)

6 Months Ended

Dec. 31, 2016

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 turnaround activities, plant maintenance, engineering and construction in the downstream and midstream petroleum industries. Our customers in these industries are engaged in refining crude oil and processing, fractionating, and marketing of natural gas and natural gas liquids. Another key offering is industrial cleaning services, which include hydroblasting, hydroexcavating, chemical cleaning and vacuum services. We also perform work in the petrochemical 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 geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems and floating roof seals.

The Industrial segment primarily includes construction and maintenance work in the iron and steel, mining and minerals, and agricultural industries. Our work in the mining and minerals industry is primarily for customers engaged in the extraction of copper. Our work in the agricultural industry includes the engineering and design of grain silos, docks and handling systems; the design of control system automation and materials handling for the food industry; and engineering, construction, process design and balance of plant work for fertilizer production facilities. We also perform work in bulk material handling, thermal vacuum chambers, and 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, 2016. 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, 2016			December 31, 2015			December 31, 2016			December 31, 2015
Gross revenues
Electrical Infrastructure	$	103,158		$	91,398		$	191,183		$	157,023
Oil Gas & Chemical	56,913			63,472			94,741			132,431
Storage Solutions	128,927			122,647			328,577			267,217
Industrial	25,026			48,390			47,753			89,725
Total gross revenues	$	314,024		$	325,907		$	662,254		$	646,396
Less: Inter-segment revenues
Oil Gas & Chemical	1,199			1,932			$	6,485		$	2,580
Storage Solutions	170			478			298			812
Industrial	—			(32		)	1,035			144
Total inter-segment revenues	$	1,369		$	2,378		$	7,818		$	3,536
Consolidated revenues
Electrical Infrastructure	$	103,158		$	91,398		$	191,183		$	157,023
Oil Gas & Chemical	55,714			61,540			88,256			129,851
Storage Solutions	128,757			122,169			328,279			266,405
Industrial	25,026			48,422			46,718			89,581
Total consolidated revenues	$	312,655		$	323,529		$	654,436		$	642,860
Gross profit
Electrical Infrastructure	$	7,225		$	4,021		$	12,475		$	8,729
Oil Gas & Chemical	2,431			5,971			2,432			11,654
Storage Solutions	17,071			14,426			43,524			34,658
Industrial	1,485			5,587			2,059			9,548
Total gross profit	$	28,212		$	30,005		$	60,490		$	64,589
Operating income (loss)
Electrical Infrastructure	$	2,164		$	(723	)	$	3,221		$	477
Oil Gas & Chemical	(1,950		)	(3,029		)	(4,855		)	(1,613		)
Storage Solutions	8,242			6,374			25,015			17,923
Industrial	(219		)	2,313			(843		)	3,249
Total operating income	$	8,237		$	4,935		$	22,538		$	20,036

Total assets by segment were as follows:

	December 31, 2016		June 30, 2016
Electrical Infrastructure	$	159,388	$	135,298
Oil Gas & Chemical	148,095		91,350
Storage Solutions	194,397		201,875
Industrial	78,348		67,569
Unallocated assets	55,562		68,875
Total segment assets	$	635,790	$	564,967