Annual report pursuant to Section 13 and 15(d)

Segment Information

v3.2.0.727
Segment Information
12 Months Ended
Jun. 30, 2015
Segment Information [Abstract]  
Segment Information

 

12.  Segment
        Information

The Company's reportable segments are strategic businesses that offer different products and services. They are managed separately because each business requires different technology and marketing strategies.

Steiner-Atlantic Corp., a wholly-owned subsidiary of the Company, comprises the commercial and industrial laundry and dry cleaning equipment and boiler segment.  Steiner-Atlantic Corp. sells commercial and industrial laundry and dry cleaning equipment and boilers to customers in the United States, the Caribbean and Latin American markets.

  DRYCLEAN USA License Corp., a wholly-owned subsidiary of the Company, comprises the license and franchise operations segment. 
  The Company primarily evaluates the operating performance of its segments based on the categories noted in the table below.  The Company has no sales between segments.
Financial information for the Company's business segments is as follows

 

Year ended June 30,   2015   2014
         
Revenues:                
Commercial and industrial laundry and
   dry cleaning equipment and boilers
  $ 30,578,038     $ 33,234,641  
   License and franchise operations     176,532       598,777  
Total revenues   $ 30,754,570     $ 33,833,418  
                 
Operating income (loss):                
Commercial and industrial laundry and    
  dry cleaning equipment and boilers
  $ 3,015,727     $ 2,613,258  
  License and franchise operations     47,056       329,069  
  Corporate     (384,338 )     (343,618 )
Total operating income   $ 2,678,445     $ 2,598,709  
                 
Identifiable assets:                
Commercial and industrial laundry and    
   dry cleaning equipment and boilers
  $ 8,392,268     $ 13,067,091  
  License and franchise operations     556,331       576,891  
  Corporate     334,173       174,105  
Total assets   $ 9,282,772     $ 13,818,087  

 

 

For the years ended June 30, 2015 and 2014, export revenues, principally to the Caribbean and Latin America, aggregated approximately $8,520,000 and $9,414,000, respectively, of which approximately $8,372,000 and $8,855,000, respectively, related to the commercial and industrial laundry, dry cleaning equipment and boiler segment. All such sales are denominated in U.S. Dollars and, accordingly, the Company is not exposed to risks of foreign currency fluctuations as a result of such sales.