Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.21.2
Segment Information
 3 Months Ended
Jun. 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 thermal solutions primarily related to the electrical heat tracing industry. We report the results of our THS product line in all four reportable segments, and the results of our TPS product line in the US-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 June 30, 2021 Three Months Ended June 30, 2020
Sales to External Customers:    
United States and Latin America $ 22,656  $ 18,643 
Canada 25,431  19,313 
Europe, Middle East and Africa 14,934  9,467 
Asia-Pacific 8,134  9,425 
  $ 71,155  $ 56,848 
Inter-Segment Sales:
United States and Latin America $ 10,697  $ 11,273 
Canada 2,769  1,492 
Europe, Middle East and Africa 412  695 
Asia-Pacific 304  173 
$ 14,182  $ 13,633 
Depreciation Expense:
United States and Latin America $ 1,484  $ 1,538 
Canada 1,420  1,032 
Europe, Middle East and Africa 105  112 
Asia-Pacific 46  47 
$ 3,055  $ 2,729 
Amortization Expense:
United States and Latin America $ 295  $ 676 
Canada 1,906  1,897 
Europe, Middle East and Africa 24  364 
Asia-Pacific 11  96 
$ 2,236  $ 3,033 
Income/(Loss) from Operations:    
United States and Latin America $ (1,014) $ (8,728)
Canada 4,031  2,159 
Europe, Middle East and Africa 2,170  352 
Asia-Pacific 1,108  997 
Unallocated:
Stock compensation (1,178) (1,133)
Public company costs (503) (402)
  $ 4,614  $ (6,755)
June 30, 2021 March 31, 2021
Property, Plant and Equipment, Net:
United States and Latin America $ 34,990  $ 36,155 
Canada 32,156  32,583 
Europe, Middle East and Africa 3,110  3,141 
Asia-Pacific 695  751 
$ 70,951  $ 72,630 
Total Assets:
United States and Latin America $ 220,066  $ 218,699 
Canada 287,125  287,907 
Europe, Middle East and Africa 82,301  77,798 
Asia-Pacific 35,333  33,474 
$ 624,825  $ 617,878 

Capital expenditures for our reportable segments were as follows:
Three Months Ended June 30, 2021 Three Months Ended June 30, 2020
Capital Expenditures:
United States and Latin America $ 318  $ 1,793 
Canada 528  233 
Europe, Middle East and Africa 25  20 
Asia-Pacific 2  13 
  $ 873  $ 2,059