Segment Information |
The Company operates in two reportable segments: (i) U.S.
Factory-built Housing, which includes wholesale and retail housing
operations and (ii) Canadian Factory-built Housing.
Corporate/Other includes the Company’s transportation
operations, corporate costs directly incurred for all segments and
intersegment eliminations. Segments are generally determined by
geography. Segment data includes intersegment revenues and
corporate office costs that are directly and exclusively incurred
for each segment. The Company evaluates the performance of its
segments and allocates resources to them primarily based on
earnings before interest, taxes, depreciation and amortization
(“EBITDA”). Total assets for Corporate/Other primarily
include cash and certain deferred tax items not specifically
allocated to another segment.
Selected financial information by reportable segment was as
follows:
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|
|
|
|
|
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Three Months Ended |
|
(Dollars in thousands)
|
|
June 30,
2018 |
|
|
July 1,
2017 |
|
Net Sales:
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|
|
|
|
|
|
|
|
U.S. Factory-built Housing
|
|
$ |
266,124 |
|
|
$ |
193,176 |
|
Canadian Factory-built Housing
|
|
|
27,354 |
|
|
|
22,403 |
|
Corporate/Other
|
|
|
28,783 |
|
|
|
28,524 |
|
|
|
|
|
|
|
|
|
|
Consolidated net sales
|
|
$ |
322,261 |
|
|
$ |
244,103 |
|
|
|
|
|
|
|
|
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Operating income:
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|
|
|
|
|
|
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U.S. Factory-built Housing EBITDA
|
|
$ |
22,916 |
|
|
$ |
10,987 |
|
Canadian Factory-built Housing EBITDA
|
|
|
3,521 |
|
|
|
2,657 |
|
Corporate/Other EBITDA
|
|
|
(13,454 |
) |
|
|
(2,442 |
) |
Depreciation
|
|
|
(2,430 |
) |
|
|
(1,842 |
) |
Amortization
|
|
|
(481 |
) |
|
|
(126 |
) |
|
|
|
|
|
|
|
|
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Consolidated operating income
|
|
$ |
10,072 |
|
|
$ |
9,234 |
|
|
|
|
|
|
|
|
|
|
Depreciation:
|
|
|
|
|
|
|
|
|
U.S. Factory-built Housing
|
|
$ |
2,045 |
|
|
$ |
1,502 |
|
Canadian Factory-built Housing
|
|
|
231 |
|
|
|
209 |
|
Corporate/Other
|
|
|
154 |
|
|
|
131 |
|
|
|
|
|
|
|
|
|
|
Consolidated depreciation
|
|
$ |
2,430 |
|
|
$ |
1,842 |
|
|
|
|
|
|
|
|
|
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Amortization:
|
|
|
|
|
|
|
|
|
U.S. Factory-built Housing
|
|
$ |
420 |
|
|
$ |
68 |
|
Canadian Factory-built Housing
|
|
|
61 |
|
|
|
58 |
|
Corporate/Other
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
Consolidated amortization
|
|
$ |
481 |
|
|
$ |
126 |
|
|
|
|
|
|
|
|
|
|
Capital Expenditure:
|
|
|
|
|
|
|
|
|
U.S. Factory-built Housing
|
|
$ |
1,281 |
|
|
$ |
3,557 |
|
Canadian Factory-built Housing
|
|
|
210 |
|
|
|
343 |
|
Corporate/Other
|
|
|
529 |
|
|
|
58 |
|
|
|
|
|
|
|
|
|
|
Consolidated capital expenditure:
|
|
$ |
2,020 |
|
|
$ |
3,958 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30,
2018 |
|
|
March 31,
2018 |
|
Total Assets:
|
|
|
|
|
|
|
|
|
U.S Factory-built Housing (1)
|
|
$ |
474,569 |
|
|
$ |
190,323 |
|
Canadian Factory-built Housing (1)
|
|
|
53,226 |
|
|
|
54,449 |
|
Corporate/Other (1)
|
|
|
121,563 |
|
|
|
150,626 |
|
|
|
|
|
|
|
|
|
|
Consolidated assets
|
|
$ |
649,358 |
|
|
$ |
395,398 |
|
|
|
|
|
|
|
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(1) |
Deferred tax assets for the Canadian operations are
reflected in the Canadian Factory-built Housing segment. U.S.
deferred tax assets are presented in Corporate/Other because an
allocation between segments is not practicable.
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