Segment Information (Notes)

9 Months Ended

Mar. 31, 2018

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 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. We also provide construction and maintenance services to a variety of power generation facilities, such as combined cycle plants, and natural gas fired power stations.

The Oil Gas & Chemical segment includes turnaround activities, plant maintenance, engineering and construction in primarily 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 offering is industrial cleaning services, which include hydroblasting, hydroexcavating, chemical cleaning and vacuum services. We also perform work in the petrochemical, upstream petroleum, and sulfur extraction, recovery and processing 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 iron and steel industry is primarily for customers engaged in the production of raw steel. 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, 2017. 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						Nine Months Ended
	March 31, 2018			March 31, 2017			March 31, 2018			March 31, 2017
Gross revenues
Electrical Infrastructure	$	58,378		$	82,032		$	203,201		$	273,215
Oil Gas & Chemical	68,689			69,295			242,946			164,036
Storage Solutions	78,859			74,431			221,664			403,008
Industrial	41,976			26,501			134,507			74,254
Total gross revenues	$	247,902		$	252,259		$	802,318		$	914,513
Less: Inter-segment revenues
Oil Gas & Chemical	$	299		$	407		$	544		$	6,892
Storage Solutions	1,958			379			3,307			677
Industrial	—			236			1			1,271
Total inter-segment revenues	$	2,257		$	1,022		$	3,852		$	8,840
Consolidated revenues
Electrical Infrastructure	$	58,378		$	82,032		$	203,201		$	273,215
Oil Gas & Chemical	68,390			68,888			242,402			157,144
Storage Solutions	76,901			74,052			218,357			402,331
Industrial	41,976			26,265			134,506			72,983
Total consolidated revenues	$	245,645		$	251,237		$	798,466		$	905,673
Gross profit (loss)
Electrical Infrastructure	$	1,759		$	(13,371	)	$	15,567		$	(896	)
Oil Gas & Chemical	4,744			4,333			27,550			6,765
Storage Solutions	4,166			5,456			17,004			48,980
Industrial	4,222			968			10,364			3,027
Total gross profit (loss)	$	14,891		$	(2,614	)	$	70,485		$	57,876
Operating income (loss)
Electrical Infrastructure	$	(2,422	)	$	(16,306	)	$	2,234		$	(13,085	)
Oil Gas & Chemical	(648		)	(2,199		)	8,684			(7,054		)
Storage Solutions	(4,025		)	(1,552		)	(6,709		)	23,463
Industrial	1,233			(1,153		)	2,424			(1,996		)
Total operating income (loss)	$	(5,862	)	$	(21,210	)	$	6,633		$	1,328

Total assets by segment were as follows:

	March 31, 2018		June 30, 2017
Electrical Infrastructure	$	180,837	$	183,351
Oil Gas & Chemical	115,112		129,177
Storage Solutions	142,610		166,742
Industrial	43,906		53,754
Unallocated assets	56,774		53,006
Total segment assets	$	539,239	$	586,030