Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.3.1.900
Segment Information
6 Months Ended
Dec. 31, 2015
Segment Information [Abstract]  
Segment Information

Note (8) - Segment Information: The Company reports its results of operations through two reportable segments. The Company's commercial and industrial laundry and dry cleaning equipment and boiler segment is comprised of Steiner-Atlantic Corp. (“Steiner Atlantic”), a wholly-owned subsidiary of the Company which sells commercial and industrial laundry and dry cleaning equipment and boilers to customers in the United States, the Caribbean and Latin American markets. The Company's license and franchise operations segment is comprised of DRYCLEAN USA License Corp., a wholly-owned subsidiary of the Company.

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

 

 

    For the six months ended
December 31,
  For the three months ended
December 31,
    2015   2014   2015   2014
    (Unaudited)   (Unaudited)
Revenues:                                
Commercial and industrial laundry and
dry cleaning equipment and boilers
  $ 14,850,856     $ 15,911,337     $ 8,621,279     $ 6,863,823  
License and franchise operations     12,245       97,502       4,622       61,322  
Total revenues   $ 14,863,101     $ 16,008,839     $ 8,625,901     $ 6,925,145  
Operating income (loss):                                
Commercial and industrial laundry and
dry cleaning equipment and boilers
  $ 1,121,203     $ 1,695,672     $ 733,582     $ 838,554  
License and franchise operations     (12,202 )     27,819       4,164       31,755  
Corporate     (249,404 )     (203,712 )     (129,943 )     (93,529 )
Total operating income   $ 859,597     $ 1,519,779     $ 607,803     $ 776,780  
                                 

 

   

As of

December 31, 2015

 

As of

June 30,

    (Unaudited)   2015
Identifiable assets:                
Commercial and industrial laundry and dry cleaning equipment and
boilers
  $ 9,126,720     $ 8,392,268  
License and franchise operations     144,129       556,331  
Corporate     373,871       334,173  
Total assets   $ 9,644,720     $ 9,282,772  

 

 

The information provided for segment reporting is based on internal reports utilized by management. The presentation and allocation of assets and results of operations may not reflect the actual economic costs of the segments as standalone businesses. If a different basis of allocation were utilized, the relative contributions of the segments might differ but the relative trends in the segments' operating results would, in management's view, likely not be impacted.