Quarterly report pursuant to Section 13 or 15(d)

Operating Segments (Tables)

v3.20.2
Operating Segments (Tables)
9 Months Ended
Sep. 30, 2020
Segment Reporting [Abstract]  
Summarized Segment Financial Information Summarized financial information for our segments as of and for the three and nine months ended September 30, 2020 and 2019, are as follows (in thousands):

 

 

 

Three Months Ended September 30, 2020

 

 

 

Shipyard

 

 

F&S

 

 

Corporate

 

 

Consolidated

 

Revenue

 

$

37,078

 

 

$

18,237

 

 

$

(446

)

 

$

54,869

 

Gross loss

 

 

(7,504

)

 

 

(313

)

 

 

 

 

 

(7,817

)

Operating loss

 

 

(9,244

)

 

 

(1,127

)

 

 

(1,868

)

 

 

(12,239

)

Depreciation and amortization expense

 

 

819

 

 

 

1,280

 

 

 

77

 

 

 

2,176

 

Capital expenditures

 

 

402

 

 

 

2,033

 

 

 

11

 

 

 

2,446

 

Total assets

 

 

125,995

 

 

 

69,084

 

 

 

67,297

 

 

 

262,376

 

 

 

 

Nine Months Ended September 30, 2020

 

 

 

Shipyard

 

 

F&S

 

 

Corporate

 

 

Consolidated

 

Revenue

 

$

116,525

 

 

$

78,286

 

 

$

(1,413

)

 

$

193,398

 

Gross profit (loss)

 

 

(9,959

)

 

 

185

 

 

 

 

 

 

(9,774

)

Operating income (loss)

 

 

(12,867

)

 

 

7,644

 

 

 

(6,506

)

 

 

(11,729

)

Depreciation and amortization expense

 

 

2,408

 

 

 

3,826

 

 

 

229

 

 

 

6,463

 

Capital expenditures

 

 

6,144

 

 

 

3,857

 

 

 

190

 

 

 

10,191

 

Total assets

 

 

125,995

 

 

 

69,084

 

 

 

67,297

 

 

 

262,376

 

 

 

 

Three Months Ended September 30, 2019

 

 

 

Shipyard(1)

 

 

F&S(1)

 

 

Corporate

 

 

Consolidated

 

Revenue

 

$

43,323

 

 

$

32,681

 

 

$

(202

)

 

$

75,802

 

Gross loss

 

 

(2,402

)

 

 

(218

)

 

 

(65

)

 

 

(2,685

)

Operating loss

 

 

(3,349

)

 

 

(1,255

)

 

 

(2,324

)

 

 

(6,928

)

Depreciation and amortization expense

 

 

992

 

 

 

1,202

 

 

 

96

 

 

 

2,290

 

Capital expenditures

 

 

326

 

 

 

305

 

 

 

 

 

 

631

 

Total assets

 

 

111,015

 

 

 

89,816

 

 

 

76,334

 

 

 

277,165

 

 

 

 

Nine Months Ended September 30, 2019

 

 

 

Shipyard(1)

 

 

F&S(1)

 

 

Corporate

 

 

Consolidated

 

Revenue

 

$

120,787

 

 

$

103,926

 

 

$

(850

)

 

$

223,863

 

Gross profit (loss)

 

 

(5,594

)

 

 

2,211

 

 

 

(347

)

 

 

(3,730

)

Operating loss

 

 

(7,817

)

 

 

(989

)

 

 

(6,788

)

 

 

(15,594

)

Depreciation and amortization expense

 

 

3,148

 

 

 

3,797

 

 

 

319

 

 

 

7,264

 

Capital expenditures

 

 

1,060

 

 

 

930

 

 

 

 

 

 

1,990

 

Total assets

 

 

111,015

 

 

 

89,816

 

 

 

76,334

 

 

 

277,165

 

__________________

 

(1)

Revenue of $3.9 million and $7.2 million for the three and nine months ended September 30, 2019 associated with our two, forty-vehicle ferry projects 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.