| NOTE 15 | Industry Segment Information |
The Corporation designs, produces and markets manufactured housing, modular housing and recreational vehicles (travel trailers, fifth wheels and park models). Manufactured housing represents homes built according to a national building code; modular housing represents homes built to a local building code. The percentage allocation of housing and recreational vehicle net sales is:
| Year Ended May 31, |
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| 2013 | 2012 | |||||||
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Domestic Manufactured Housing |
49 | % | 48 | % | ||||
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Modular Housing |
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Domestic |
11 | 9 | ||||||
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Canadian |
3 | 3 | ||||||
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| 14 | 12 | |||||||
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Total Housing |
63 | 60 | ||||||
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Recreational Vehicles |
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Domestic |
30 | 30 | ||||||
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Canadian |
7 | 10 | ||||||
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Total Recreational Vehicles |
37 | 40 | ||||||
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| 100 | % | 100 | % | |||||
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Total operating loss represents operating losses before interest income and benefit from income taxes with non-traceable operating expenses being allocated to industry segments based on percentages of net sales. General corporate expenses are not allocated to the industry segments.
Identifiable assets, depreciation and capital expenditures, by industry segment, are those items that are used in operations in each industry segment, with jointly used items being allocated based on a percentage of net sales.
| Year Ended May 31, | ||||||||
| 2013 | 2012 | |||||||
| (Dollars in thousands) | ||||||||
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NET SALES |
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Domestic Manufactured Housing |
$ | 87,380 | $ | 87,487 | ||||
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Modular Housing |
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Domestic |
18,562 | 15,852 | ||||||
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Canadian |
5,162 | 5,818 | ||||||
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| 23,724 | 21,670 | |||||||
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Total Housing |
111,104 | 109,157 | ||||||
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Recreational Vehicles |
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Domestic |
53,267 | 55,003 | ||||||
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Canadian |
13,203 | 18,686 | ||||||
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Total Recreational Vehicles |
66,470 | 73,689 | ||||||
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Total Net sales |
$ | 177,574 | $ | 182,846 | ||||
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LOSS BEFORE INCOME TAXES |
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Operating Loss |
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Housing |
$ | (6,867 | ) | $ | (13,440 | ) | ||
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Recreational vehicles |
(3,444 | ) | (6,808 | ) | ||||
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General corporate expense |
(1,907 | ) | (2,318 | ) | ||||
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Gain on sale of idle property, plant and equipment |
1,641 | 3,184 | ||||||
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Total operating loss |
(10,577 | ) | (19,382 | ) | ||||
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Interest income |
64 | 17 | ||||||
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Loss before income taxes |
$ | (10,513 | ) | $ | (19,365 | ) | ||
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IDENTIFIABLE ASSETS |
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Operating assets |
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Housing |
$ | 45,072 | $ | 40,985 | ||||
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Recreational vehicles |
18,855 | 20,873 | ||||||
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Total operating assets |
63,927 | 61,858 | ||||||
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U.S. Treasury bills |
4,000 | 16,998 | ||||||
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Total assets |
$ | 67,927 | $ | 78,856 | ||||
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DEPRECIATION |
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Housing |
$ | 1,490 | $ | 1,762 | ||||
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Recreational vehicles |
512 | 597 | ||||||
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Total depreciation |
$ | 2,002 | $ | 2,359 | ||||
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CAPITAL EXPENDITURES |
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Housing |
$ | 48 | $ | 450 | ||||
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Recreational vehicles |
27 | 164 | ||||||
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Total capital expenditures |
$ | 75 | $ | 614 | ||||
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