Annual report pursuant to Section 13 and 15(d)

Operating Segments (Tables)

v3.10.0.1
Operating Segments (Tables)
12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Summarized Segment Financial Information
Summarized financial information for our segments as of and for the three-year period ended December 31, 2018, is as follows (in thousands):
 
2018
 
Fabrication(1)
Shipyard (1)
Services
EPC
Corporate
Eliminations
Consolidated
Revenue
$
37,943

$
96,424

$
88,230

$
2,477

$

$
(3,827
)
$
221,247

Gross profit (loss)
(7,794
)
(10,472
)
12,447

(46
)
(1,331
)

(7,196
)
Operating income (loss)
(2,950
)
(14,396
)
9,371

(1,863
)
(9,827
)

(19,665
)
Depreciation expense
4,310

4,229

1,511

5

295


10,350

Capital expenditures
73

2,003

1,244

143

18


3,481

Total Assets
62,138

97,197

38,643

1,938

58,374


258,290

 
2017
 
Fabrication
Shipyard (2)
Services
EPC
Corporate
Eliminations
Consolidated
Revenue
$
57,880

$
52,699

$
65,445

$
198

$

$
(5,200
)
$
171,022

Gross profit (loss)
(1,941
)
(44,870
)
4,575

41

(730
)

(42,925
)
Operating income (loss)
(12,010
)
(50,044
)
1,874

41

(8,471
)

(68,610
)
Depreciation expense
6,592

4,073

1,676


404


12,745

Capital expenditures
2,395

1,909

403


127


4,834

Total Assets
155,731

74,516

32,487

198

7,908


270,840

 
2016
 
Fabrication
Shipyard
Services
EPC
Corporate
Eliminations
Consolidated
Revenue
$
88,683

$
109,502

$
91,414

$

$

$
(3,273
)
$
286,326

Gross profit (loss)
5,276

7,801

12,420


(644
)

24,853

Operating income (loss)
2,009

2,436

9,217


(7,798
)

5,864

Depreciation expense
18,566

4,686

1,775


421


25,448

Capital expenditures
2,633

1,861

1,495


806


6,795

Total Assets
195,901

81,928

37,102


7,477


322,408

_______________
(1)
Gross loss and operating loss for 2018 for our Fabrication Division includes a $2.4 million impact from increased costs on a petrochemical module project and our Shipyard Division includes a $6.7 million impact from increased forecast costs on our harbor tug projects. Operating loss also includes a net benefit of $6.9 million related to a gain on the sale of our South Texas Properties of $8.0 million and a gain on insurance recoveries of $3.6 million, offset partially by impairments of $4.4 million related to inventory and assets that were held for sale and a loss on assets sold of $0.3 million within our Fabrication and Shipyard Divisions. See Note 2 for further discussion of the project charges and Note 3 and Note 5 for further discussion of our asset impairments and gains on assets held for sale.
(2)
Gross loss and operating loss for 2017 for our Shipyard Division includes a $34.5 million impact from increased forecast costs on our MPSV projects. See Note 2 for further discussion of the MPSV projects.