Summarized Segment Financial Information |
Summarized financial information for our segments as of September 30, 2024 and 2023, and for the three and nine months ended September 30, 2024 and 2023, is as follows (in thousands):
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Three Months Ended September 30, 2024 |
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Services |
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Fabrication |
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Shipyard |
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Corporate |
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Consolidated |
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Revenue |
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$ |
20,245 |
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$ |
17,110 |
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|
$ |
490 |
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$ |
(205 |
) |
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$ |
37,640 |
|
Gross profit |
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|
2,040 |
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|
2,541 |
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|
75 |
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|
|
— |
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|
4,656 |
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Operating income (loss) |
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1,396 |
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|
2,034 |
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22 |
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(1,780 |
) |
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|
1,672 |
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Depreciation and amortization expense |
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|
495 |
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|
633 |
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— |
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|
80 |
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|
1,208 |
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Capital expenditures |
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|
17 |
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|
1,297 |
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— |
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— |
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|
1,314 |
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Total assets(1) |
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24,445 |
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34,895 |
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|
233 |
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71,195 |
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130,768 |
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Three Months Ended September 30, 2023 |
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Services |
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Fabrication |
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Shipyard |
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Corporate |
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Consolidated |
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Revenue |
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$ |
22,976 |
|
|
$ |
14,979 |
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|
$ |
(32,702 |
) |
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$ |
(230 |
) |
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$ |
5,023 |
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Gross profit (loss) |
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|
3,260 |
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|
|
1,217 |
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|
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(34,356 |
) |
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— |
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|
|
(29,879 |
) |
Operating income (loss) |
|
|
2,577 |
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|
|
904 |
|
|
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(35,117 |
) |
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|
(1,999 |
) |
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|
(33,635 |
) |
Depreciation and amortization expense |
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|
502 |
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|
|
813 |
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|
|
— |
|
|
|
75 |
|
|
|
1,390 |
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Capital expenditures |
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— |
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|
573 |
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|
— |
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|
|
72 |
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|
|
645 |
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Total assets(1) |
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30,407 |
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44,372 |
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|
727 |
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45,096 |
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|
120,602 |
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Nine Months Ended September 30, 2024 |
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Services |
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Fabrication |
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Shipyard |
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Corporate |
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Consolidated |
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Revenue |
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$ |
68,546 |
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$ |
52,975 |
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$ |
935 |
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$ |
(673 |
) |
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$ |
121,783 |
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Gross profit |
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|
8,541 |
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|
|
5,972 |
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|
|
425 |
|
|
|
— |
|
|
|
14,938 |
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Operating income (loss) |
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|
6,452 |
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|
|
7,884 |
|
|
|
373 |
|
|
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(6,046 |
) |
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|
8,663 |
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Depreciation and amortization expense |
|
|
1,461 |
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|
|
1,942 |
|
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|
— |
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|
|
238 |
|
|
|
3,641 |
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Capital expenditures |
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|
684 |
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|
4,196 |
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|
— |
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— |
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|
|
4,880 |
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Total assets(1) |
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24,445 |
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34,895 |
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|
233 |
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71,195 |
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130,768 |
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Nine Months Ended September 30, 2023 |
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Services |
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Fabrication |
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Shipyard |
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Corporate |
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Consolidated |
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Revenue |
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$ |
69,033 |
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$ |
69,382 |
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$ |
(30,973 |
) |
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$ |
(925 |
) |
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$ |
106,517 |
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Gross profit (loss) |
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|
10,348 |
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|
5,243 |
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|
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(35,955 |
) |
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— |
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|
|
(20,364 |
) |
Operating income (loss) |
|
|
8,187 |
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|
4,443 |
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|
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(39,268 |
) |
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|
(5,920 |
) |
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|
(32,558 |
) |
Depreciation and amortization expense |
|
|
1,440 |
|
|
|
2,460 |
|
|
|
— |
|
|
|
215 |
|
|
|
4,115 |
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Capital expenditures |
|
|
508 |
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|
|
1,111 |
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|
— |
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|
|
82 |
|
|
|
1,701 |
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Total assets(1) |
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30,407 |
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44,372 |
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|
727 |
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45,096 |
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|
120,602 |
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Cash and short-term investments are reported within our Corporate Division.
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