Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.2
Segment Information
 6 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
    We maintain four reportable segments based on four geographic countries or regions in which we operate: (i) United States and Latin America ("US-LAM"), (ii) Canada, (iii) Europe, Middle East and Africa ("EMEA") and (iv) Asia-Pacific ("APAC"). Within our four reportable segments, our core products and services are focused on the following markets: chemical and petrochemical, oil, gas, power generation, commercial, rail and transit, and other, which we refer to as our "key end markets." We offer a full suite of products (heating units, heating cables, temporary power solutions and tubing bundles), services (engineering, installation and maintenance services) and software (design optimization and wireless and network control systems) required to deliver comprehensive solutions to some of the world's largest and most complex projects. We report the results of our THS product line in all four reportable segments, and the results of our TPS product line in the U.S-LAM and Canada reportable segments. Each of our reportable segments serves a similar class of customers, including engineering, procurement and construction companies, international and regional oil and gas companies, commercial sub-contractors, electrical component distributors and direct sales to existing plant or industrial applications. Profitability within our segments is measured by operating income. Profitability can vary in each of our reportable segments based on the competitive environment within the region, the level of corporate overhead, such as the salaries of our senior executives and the level of research and development and marketing activities in the region, as well as the mix of products and services. For purposes of this note, revenue is attributed to individual countries or regions on the basis of the physical location and jurisdiction of organization of the subsidiary that invoices the material and services.
    Total sales to external customers, inter-segment sales, depreciation expense, amortization expense, income from operations, property, plant and equipment, net and total assets for each of our four reportable segments are as follows:
Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Six Months Ended September 30, 2021 Six Months Ended September 30, 2020
Sales to External Customers:    
United States and Latin America $ 30,442  $ 23,876  $ 53,098  $ 42,519 
Canada 24,943  19,216  50,374  38,529 
Europe, Middle East and Africa 16,495  12,330  31,429  21,797 
Asia-Pacific 9,442  10,984  17,576  20,409 
  $ 81,322  $ 66,406  $ 152,477  $ 123,254 
Inter-Segment Sales:
United States and Latin America $ 10,139  $ 9,825  $ 20,836  $ 21,098 
Canada 2,170  1,363  4,939  2,855 
Europe, Middle East and Africa 430  378  842  1,073 
Asia-Pacific 313  345  617  518 
$ 13,052  $ 11,911  $ 27,234  $ 25,544 
Depreciation Expense:
United States and Latin America $ 1,451  $ 1,542  $ 2,935  $ 3,080 
Canada 1,303  1,079  2,723  2,111 
Europe, Middle East and Africa 98  115  203  227 
Asia-Pacific 44  48  90  95 
$ 2,896  $ 2,784  $ 5,951  $ 5,513 
Amortization Expense:
United States and Latin America $ 295  $ 198  $ 590  $ 874 
Canada 1,860  1,758  3,766  3,655 
Europe, Middle East and Africa 24  33  48  397 
Asia-Pacific 11  108  22  204 
$ 2,190  $ 2,097  $ 4,426  $ 5,130 
Income/(Loss) from Operations:    
United States and Latin America $ 750  $ 896  $ (1,895) $ (7,832)
Canada 3,793  2,019  7,824  4,178 
Europe, Middle East and Africa 2,268  1,124  4,438  1,476 
Asia-Pacific 1,317  837  2,425  1,834 
Unallocated:
Stock compensation (1,246) (1,358) (2,424) (2,491)
Public company costs (657) (472) (1,160) (874)
  $ 6,225  $ 3,046  $ 9,208  $ (3,709)
September 30, 2021 March 31, 2021
Property, Plant and Equipment, Net:
United States and Latin America $ 33,830  $ 36,155 
Canada 30,718  32,583 
Europe, Middle East and Africa 3,053  3,141 
Asia-Pacific 652  751 
$ 68,253  $ 72,630 
Total Assets:
United States and Latin America $ 210,047  $ 218,699 
Canada 290,296  287,907 
Europe, Middle East and Africa 82,373  77,798 
Asia-Pacific 36,199  33,474 
$ 618,915  $ 617,878 


Capital expenditures for our reportable segments were as follows:
Three Months Ended September 30, 2021 Three Months Ended September 30, 2020 Six Months Ended
September 30, 2021		 Six Months Ended
September 30, 2020
Capital Expenditures:
United States and Latin America $ 322  $ 1,363  $ 640  $ 3,157 
Canada 739  634  1,267  867 
Europe, Middle East and Africa 106  29  131  48 
Asia-Pacific 15  47  17  60 
  $ 1,182  $ 2,073  $ 2,055  $ 4,132