| Summarized Segment Financial Information |
Summarized financial information for our segments as of and for the three and nine months ended September 30, 2019 and 2018, is as follows (in thousands):
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Three Months Ended September 30, 2019 |
|
Fabrication |
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Shipyard |
|
Services |
|
Corporate |
|
Consolidated |
Revenue |
$ |
19,474 |
|
|
$ |
39,436 |
|
|
$ |
17,507 |
|
|
$ |
(615 |
) |
|
$ |
75,802 |
|
Gross profit (loss) |
(428 |
) |
|
(2,402 |
) |
|
210 |
|
|
(65 |
) |
|
(2,685 |
) |
Operating loss |
(848 |
) |
|
(3,349 |
) |
|
(407 |
) |
|
(2,324 |
) |
|
(6,928 |
) |
Depreciation and amortization expense |
840 |
|
|
992 |
|
|
362 |
|
|
96 |
|
|
2,290 |
|
Capital expenditures |
137 |
|
|
326 |
|
|
168 |
|
|
— |
|
|
631 |
|
Total assets (1)
|
63,098 |
|
|
109,129 |
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|
28,604 |
|
|
76,334 |
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|
277,165 |
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Three Months Ended September 30, 2018 |
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Fabrication |
|
Shipyard |
|
Services |
|
Corporate |
|
Consolidated |
Revenue |
$ |
3,382 |
|
|
$ |
24,492 |
|
|
$ |
22,617 |
|
|
$ |
(779 |
) |
|
$ |
49,712 |
|
Gross profit (loss) |
(4,237 |
) |
|
(1,764 |
) |
|
3,191 |
|
|
(402 |
) |
|
(3,212 |
) |
Operating income (loss) |
(8,277 |
) |
|
(2,454 |
) |
|
2,482 |
|
|
(2,495 |
) |
|
(10,744 |
) |
Depreciation and amortization expense |
1,023 |
|
|
1,050 |
|
|
365 |
|
|
42 |
|
|
2,480 |
|
Capital expenditures |
142 |
|
|
783 |
|
|
545 |
|
|
1 |
|
|
1,471 |
|
Total assets (1)
|
85,780 |
|
|
86,162 |
|
|
32,427 |
|
|
58,595 |
|
|
262,964 |
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Nine Months Ended September 30, 2019 |
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Fabrication |
|
Shipyard |
|
Services |
|
Corporate |
|
Consolidated |
Revenue |
$ |
54,520 |
|
|
$ |
113,590 |
|
|
$ |
61,174 |
|
|
$ |
(5,421 |
) |
|
$ |
223,863 |
|
Gross profit (loss) |
(1,877 |
) |
|
(5,594 |
) |
|
4,088 |
|
|
(347 |
) |
|
(3,730 |
) |
Operating income (loss) |
(3,599 |
) |
|
(7,817 |
) |
|
2,610 |
|
|
(6,788 |
) |
|
(15,594 |
) |
Depreciation and amortization expense |
2,698 |
|
|
3,148 |
|
|
1,099 |
|
|
319 |
|
|
7,264 |
|
Capital expenditures |
282 |
|
|
1,060 |
|
|
648 |
|
|
— |
|
|
1,990 |
|
Total assets (1)
|
63,098 |
|
|
109,129 |
|
|
28,604 |
|
|
76,334 |
|
|
277,165 |
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Nine Months Ended September 30, 2018 |
|
Fabrication |
|
Shipyard |
|
Services |
|
Corporate |
|
Consolidated |
Revenue |
$ |
30,197 |
|
|
$ |
66,677 |
|
|
$ |
66,692 |
|
|
$ |
(2,550 |
) |
|
$ |
161,016 |
|
Gross profit (loss) |
(5,888 |
) |
|
(5,563 |
) |
|
9,390 |
|
|
(1,171 |
) |
|
(3,232 |
) |
Operating income (loss) |
(6,572 |
) |
|
(7,810 |
) |
|
7,223 |
|
|
(7,952 |
) |
|
(15,111 |
) |
Depreciation and amortization expense |
3,219 |
|
|
3,170 |
|
|
1,141 |
|
|
258 |
|
|
7,788 |
|
Capital expenditures |
142 |
|
|
1,442 |
|
|
708 |
|
|
70 |
|
|
2,362 |
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Total assets (1)
|
85,780 |
|
|
86,162 |
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|
32,427 |
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|
58,595 |
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|
262,964 |
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____________
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(1) |
Cash and short-term investments are reported within our Corporate Division. Total assets previously reported for 2018 have been recast to conform to our presentation for 2019. |
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