| Summarized Segment Financial Information |
Summarized financial information for our segments as of and for the three months ended March 31, 2020 and 2019, are as follows (in thousands):
|
|
|
Three Months Ended March 31, 2020
|
|
|
|
|
Shipyard
|
|
|
F&S
|
|
|
Corporate
|
|
|
Consolidated
|
|
|
Revenue
|
|
$
|
45,559
|
|
|
$
|
33,443
|
|
|
$
|
(447
|
)
|
|
$
|
78,555
|
|
|
Gross profit (loss)
|
|
|
(1,224
|
)
|
|
|
970
|
|
|
|
—
|
|
|
|
(254
|
)
|
|
Operating income (loss)
|
|
|
(1,899
|
)
|
|
|
10,165
|
|
|
|
(2,330
|
)
|
|
|
5,936
|
|
|
Depreciation and amortization expense
|
|
|
787
|
|
|
|
1,358
|
|
|
|
75
|
|
|
|
2,220
|
|
|
Capital expenditures
|
|
|
1,443
|
|
|
|
681
|
|
|
|
—
|
|
|
|
2,124
|
|
|
Total assets(1)
|
|
|
109,651
|
|
|
|
70,886
|
|
|
|
70,492
|
|
|
|
251,029
|
|
|
|
|
Three Months Ended March 31, 2019(2)
|
|
|
|
|
Shipyard
|
|
|
F&S
|
|
|
Corporate
|
|
|
Consolidated
|
|
|
Revenue
|
|
$
|
37,411
|
|
|
$
|
30,593
|
|
|
$
|
(399
|
)
|
|
$
|
67,605
|
|
|
Gross profit (loss)
|
|
|
(280
|
)
|
|
|
969
|
|
|
|
(136
|
)
|
|
|
553
|
|
|
Operating loss
|
|
|
(904
|
)
|
|
|
(251
|
)
|
|
|
(2,127
|
)
|
|
|
(3,282
|
)
|
|
Depreciation and amortization expense
|
|
|
1,109
|
|
|
|
1,341
|
|
|
|
102
|
|
|
|
2,552
|
|
|
Capital expenditures
|
|
|
22
|
|
|
|
228
|
|
|
|
—
|
|
|
|
250
|
|
|
Total assets(1)
|
|
|
96,961
|
|
|
|
86,348
|
|
|
|
75,406
|
|
|
|
258,715
|
|
__________________
|
|
(1)
|
Cash and short-term investments are reported within our Corporate Division. Total assets previously reported for 2019 have been recast to conform to our presentation for 2020.
|
|
|
(2)
|
Revenue of $0.8 million associated with our two, forty-vehicle ferry projects for 2019 was reclassified from our former Fabrication Division to our Shipyard Division to conform to the presentation of these projects for 2020 (the projects had no significant gross profit for 2019).
|
|