| Segment Information |
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12. Segment
Information
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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.
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DRYCLEAN USA License Corp., a wholly-owned subsidiary of the Company, comprises the license and franchise operations segment. |
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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 |
|
| |
|
|
|
|
|
|
|
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| 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 |
|
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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.
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