Segment Analysis |
NOTE 14 – SEGMENT ANALYSIS
We operate in two
reportable segments, which are managed separately based upon fundamental differences in their operations. Coda Octopus
Martech and Coda Octopus Colmek (together “Marine Engineering Business” or “Service Segments”)
operate as contractors and Coda Octopus Products operations are comprised primarily of product sales, rental of equipment
and/or software and associated services (“Marine Technology Business” or “Products Segment”).
Segment operating income is total
segment revenue reduced by operating expenses identifiable with the business segment. Corporate includes general corporate administrative
costs (“Overheads”).
The Company evaluates
performance and allocates resources based upon segment operating income. The accounting policies of the reportable segments
are the same as those described in the summary of accounting policies in our Consolidated Financial Statements of October 31,
2018.
There are inter-segment sales which
have been eliminated in our financial statements but are disclosed in the tables below for information purposes.
The following table summarizes segment
asset and operating balances by reportable segment as of and for the three and nine months ended July 31, 2019 and 2018, respectively.
The Company’s reportable business
segments operate in four geographic locations:
|
● |
Americas |
|
|
|
|
● |
Europe |
|
|
|
|
● |
Australia/Asia |
|
|
|
|
● |
Middle East/Africa |
Information concerning principal
geographic areas is presented below according to the area where the activity has taken place for the three and nine months ended
July 31, 2019 and 2018 respectively:
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
3,231,510 |
|
|
$ |
3,436,988 |
|
|
$ |
- |
|
|
$ |
6,668,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
592,585 |
|
|
|
1,528,095 |
|
|
|
- |
|
|
|
2,120,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
2,638,925 |
|
|
|
1,908,893 |
|
|
|
- |
|
|
|
4,547,818 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
503,540 |
|
|
|
32,991 |
|
|
|
95,159 |
|
|
|
631,690 |
|
Selling, General & Administrative |
|
|
590,981 |
|
|
|
659,398 |
|
|
|
525,530 |
|
|
|
1,775,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,094,521 |
|
|
|
692,389 |
|
|
|
620,689 |
|
|
|
2,407,599 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
1,544,404 |
|
|
|
1,216,504 |
|
|
|
(620,689 |
) |
|
|
2,140,219 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
6,398 |
|
|
|
- |
|
|
|
- |
|
|
|
6,398 |
|
Interest Expense |
|
|
(2,197 |
) |
|
|
(2,150 |
) |
|
|
(15,928 |
) |
|
|
(20,275 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
4,201 |
|
|
|
(2,150 |
) |
|
|
(15,928 |
) |
|
|
(13,877 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before Income Taxes |
|
|
1,548,605 |
|
|
|
1,214,354 |
|
|
|
(636,617 |
) |
|
|
2,126,342 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax Benefit (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit (Expense) |
|
|
(5,172 |
) |
|
|
4,460 |
|
|
|
674 |
|
|
|
(38 |
) |
Deferred Tax (Expense) |
|
|
(47,768 |
) |
|
|
(214,144 |
) |
|
|
(88,705 |
) |
|
|
(350,617 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Income Tax (Expense) |
|
|
(52,940 |
) |
|
|
(209,684 |
) |
|
|
(88,031 |
) |
|
|
(350,655 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
1,495,665 |
|
|
$ |
1,004,670 |
|
|
$ |
(724,648 |
) |
|
$ |
1,775,687 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
18,200,970 |
|
|
$ |
13,876,685 |
|
|
$ |
1,266,254 |
|
|
$ |
33,343,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
2,169,195 |
|
|
$ |
870,492 |
|
|
$ |
1,388,509 |
|
|
$ |
4,428,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
136,128 |
|
|
$ |
75,729 |
|
|
$ |
675,000 |
|
|
$ |
886,857 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
132,392 |
|
|
$ |
63,724 |
|
|
$ |
4,078 |
|
|
$ |
200,194 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Sales) Purchases of Long-lived Assets |
|
$ |
(262,062 |
) |
|
$ |
5,937 |
|
|
$ |
34,303 |
|
|
$ |
(221,822 |
) |
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
3,926,491 |
|
|
$ |
1,851,982 |
|
|
$ |
- |
|
|
$ |
5,778,473 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
650,669 |
|
|
|
933,531 |
|
|
|
- |
|
|
|
1,584,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
3,275,822 |
|
|
|
918,451 |
|
|
|
- |
|
|
|
4,194,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
440,202 |
|
|
|
90,190 |
|
|
|
- |
|
|
|
530,392 |
|
Selling, General & Administrative |
|
|
723,155 |
|
|
|
566,692 |
|
|
|
350,995 |
|
|
|
1,640,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
1,163,357 |
|
|
|
656,882 |
|
|
|
350,995 |
|
|
|
2,171,234 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
2,112,465 |
|
|
|
261,569 |
|
|
|
(350,995 |
) |
|
|
2,023,039 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
3,941 |
|
|
|
31 |
|
|
|
- |
|
|
|
3,972 |
|
Interest Expense |
|
|
(2,480 |
) |
|
|
(15,802 |
) |
|
|
(11,139 |
) |
|
|
(29,421 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
1,461 |
|
|
|
(15,771 |
) |
|
|
(11,139 |
) |
|
|
(25,449 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before Income Taxes |
|
|
2,113,926 |
|
|
|
245,798 |
|
|
|
(362,134 |
) |
|
|
1,997,590 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit |
|
|
- |
|
|
|
- |
|
|
|
20 |
|
|
|
20 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
2,113,926 |
|
|
$ |
245,798 |
|
|
$ |
(362,114 |
) |
|
$ |
1,997,610 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
14,016,131 |
|
|
$ |
11,378,558 |
|
|
$ |
553,927 |
|
|
$ |
25,948,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
865,138 |
|
|
$ |
1,660,291 |
|
|
$ |
1,891,374 |
|
|
$ |
4,416,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
44,180 |
|
|
$ |
183,800 |
|
|
$ |
675,000 |
|
|
$ |
902,980 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
137,426 |
|
|
$ |
66,435 |
|
|
$ |
5,728 |
|
|
$ |
209,589 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
232,575 |
|
|
$ |
(6,122 |
) |
|
$ |
30,667 |
|
|
$ |
257,120 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended July 31, 2019 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
9,481,229 |
|
|
$ |
9,729,049 |
|
|
$ |
- |
|
|
$ |
19,210,278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
1,798,800 |
|
|
|
4,605,926 |
|
|
|
- |
|
|
|
6,404,726 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
7,682,429 |
|
|
|
5,123,123 |
|
|
|
- |
|
|
|
12,805,552 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
1,533,544 |
|
|
|
130,205 |
|
|
|
284,494 |
|
|
|
1,948,243 |
|
Selling, General & Administrative |
|
|
2,089,442 |
|
|
|
1,864,503 |
|
|
|
1,137,921 |
|
|
|
5,091,866 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
3,622,986 |
|
|
|
1,994,708 |
|
|
|
1,422,415 |
|
|
|
7,040,109 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
4,059,443 |
|
|
|
3,128,415 |
|
|
|
(1,422,415 |
) |
|
|
5,765,443 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
65,467 |
|
|
|
- |
|
|
|
- |
|
|
|
65,467 |
|
Interest (Expense) |
|
|
(8,063 |
) |
|
|
(11,849 |
) |
|
|
(49,771 |
) |
|
|
(69,683 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
57,404 |
|
|
|
(11,849 |
) |
|
|
(49,771 |
) |
|
|
(4,216 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before Income Taxes |
|
|
4,116,847 |
|
|
|
3,116,566 |
|
|
|
(1,472,186 |
) |
|
|
5,761,227 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax Benefit (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit |
|
|
20,496 |
|
|
|
39,445 |
|
|
|
18,013 |
|
|
|
77,954 |
|
Deferred Tax (Expense) |
|
|
(199,073 |
) |
|
|
(447,540 |
) |
|
|
(204,374 |
) |
|
|
(850,987 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Income Tax (Expense) |
|
|
(178,577 |
) |
|
|
(408,095 |
) |
|
|
(186,361 |
) |
|
|
(773,033 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
3,938,270 |
|
|
$ |
2,708,471 |
|
|
$ |
(1,658,547 |
) |
|
$ |
4,988,194 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
18,200,970 |
|
|
$ |
13,876,685 |
|
|
$ |
1,266,254 |
|
|
$ |
33,343,909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
2,169,195 |
|
|
$ |
870,492 |
|
|
$ |
1,388,509 |
|
|
$ |
4,428,196 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
1,044,595 |
|
|
$ |
304,658 |
|
|
$ |
2,025,000 |
|
|
$ |
3,374,253 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
391,516 |
|
|
$ |
191,402 |
|
|
$ |
11,688 |
|
|
$ |
594,606 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
1,803,206 |
|
|
$ |
40,383 |
|
|
$ |
34,303 |
|
|
$ |
1,877,892 |
|
|
|
Marine Technology Business (Products) |
|
|
Marine Engineering Business (Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended July 31, 2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
8,142,724 |
|
|
$ |
4,212,702 |
|
|
$ |
- |
|
|
$ |
12,355,426 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
1,298,022 |
|
|
|
2,173,143 |
|
|
|
- |
|
|
|
3,471,165 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
6,844,702 |
|
|
|
2,039,559 |
|
|
|
- |
|
|
|
8,884,261 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
1,385,994 |
|
|
|
455,414 |
|
|
|
- |
|
|
|
1,841,408 |
|
Selling, General & Administrative |
|
|
2,150,168 |
|
|
|
1,813,357 |
|
|
|
1,208,704 |
|
|
|
5,172,229 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
3,536,162 |
|
|
|
2,268,771 |
|
|
|
1,208,704 |
|
|
|
7,013,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
3,308,540 |
|
|
|
(229,212 |
) |
|
|
(1,208,704 |
) |
|
|
1,870,624 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
92,514 |
|
|
|
2,128 |
|
|
|
- |
|
|
|
94,642 |
|
Interest Expense |
|
|
(9,289 |
) |
|
|
(45,503 |
) |
|
|
(158,118 |
) |
|
|
(212,910 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
83,225 |
|
|
|
(43,375 |
) |
|
|
(158,118 |
) |
|
|
(118,268 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before Income Taxes |
|
|
3,391,765 |
|
|
|
(272,587 |
) |
|
|
(1,366,822 |
) |
|
|
1,752,356 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit (Expense) |
|
|
(6,596 |
) |
|
|
- |
|
|
|
6,586 |
|
|
|
(10 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
3,385,169 |
|
|
$ |
(272,587 |
) |
|
$ |
(1,360,236 |
) |
|
$ |
1,752,346 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
14,016,131 |
|
|
$ |
11,378,558 |
|
|
$ |
553,927 |
|
|
$ |
25,948,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
865,138 |
|
|
$ |
1,660,291 |
|
|
$ |
1,891,374 |
|
|
$ |
4,416,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
831,352 |
|
|
$ |
196,103 |
|
|
$ |
2,025,000 |
|
|
$ |
3,052,455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
374,076 |
|
|
$ |
218,649 |
|
|
$ |
12,920 |
|
|
$ |
605,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
486,604 |
|
|
$ |
43,839 |
|
|
$ |
55,452 |
|
|
$ |
585,895 |
|
|
|
For
the Three Months Ended July 31, 2019 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Disaggregation
of Total Net Sales
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment
Sales |
|
$ |
493,261 |
|
|
$ |
- |
|
|
$ |
493,261 |
|
Equipment
Rentals |
|
|
221,567 |
|
|
|
- |
|
|
|
221,567 |
|
Software
Sales |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Engineering
Parts |
|
|
- |
|
|
|
2,259,717 |
|
|
|
2,259,717 |
|
Services |
|
|
95,698 |
|
|
|
767,024 |
|
|
|
862,722 |
|
Europe |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment
Sales |
|
|
418,557 |
|
|
|
3,235 |
|
|
|
421,792 |
|
Equipment
Rentals |
|
|
322,887 |
|
|
|
- |
|
|
|
322,887 |
|
Software
Sales |
|
|
19,259 |
|
|
|
- |
|
|
|
19,259 |
|
Engineering
Parts |
|
|
- |
|
|
|
347,459 |
|
|
|
347,459 |
|
Services |
|
|
150,216 |
|
|
|
59,553 |
|
|
|
209,769 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia/Asia |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment
Sales |
|
|
648,640 |
|
|
|
- |
|
|
|
648,640 |
|
Equipment
Rentals |
|
|
260,474 |
|
|
|
- |
|
|
|
260,474 |
|
Software
Sales |
|
|
81,541 |
|
|
|
- |
|
|
|
81,541 |
|
Services |
|
|
204,273 |
|
|
|
- |
|
|
|
204,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Middle East & Africa |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment
Sales |
|
|
290,386 |
|
|
|
- |
|
|
|
290,386 |
|
Equipment
Rentals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Software
Sales |
|
|
21,261 |
|
|
|
- |
|
|
|
21,261 |
|
Services |
|
|
3,490 |
|
|
|
- |
|
|
|
3,490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
Net Sales |
|
$ |
3,231,510 |
|
|
$ |
3,436,988 |
|
|
$ |
6,668,498 |
|
|
|
For the Three Months Ended July 31, 2019 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Geographic Area |
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
$ |
810,526 |
|
|
$ |
3,026,741 |
|
|
$ |
3,837,267 |
|
Europe |
|
|
910,919 |
|
|
|
410,247 |
|
|
|
1,321,166 |
|
Australia/Asia |
|
|
1,194,928 |
|
|
|
- |
|
|
|
1,194,928 |
|
Middle East & Africa |
|
|
315,137 |
|
|
|
- |
|
|
|
315,137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,231,510 |
|
|
$ |
3,436,988 |
|
|
$ |
6,668,498 |
|
|
|
For the Three Months Ended July 31, 2019
|
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Product Line |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
1,850,844 |
|
|
$ |
3,235 |
|
|
$ |
1,854,079 |
|
Equipment Rentals |
|
|
804,928 |
|
|
|
- |
|
|
|
804,928 |
|
Software Sales |
|
|
122,061 |
|
|
|
- |
|
|
|
122,061 |
|
Engineering Parts |
|
|
- |
|
|
|
2,607,176 |
|
|
|
2,607,176 |
|
Services |
|
|
453,677 |
|
|
|
826,577 |
|
|
|
1,280,254 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,231,510 |
|
|
$ |
3,436,988 |
|
|
$ |
6,668,498 |
|
|
|
For the Three Months Ended July 31, 2018 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Disaggregation of Total Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
118,488 |
|
|
$ |
- |
|
|
$ |
118,488 |
|
Equipment Rentals |
|
|
323,763 |
|
|
|
- |
|
|
|
323,763 |
|
Software Sales |
|
|
18,625 |
|
|
|
- |
|
|
|
18,625 |
|
Engineering Parts |
|
|
- |
|
|
|
1,456,962 |
|
|
|
1,456,962 |
|
Services |
|
|
134,870 |
|
|
|
7,496 |
|
|
|
142,366 |
|
Europe |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
109,410 |
|
|
|
- |
|
|
|
109,410 |
|
Equipment Rentals |
|
|
737,126 |
|
|
|
- |
|
|
|
737,126 |
|
Software Sales |
|
|
29,256 |
|
|
|
- |
|
|
|
29,256 |
|
Engineering Parts |
|
|
- |
|
|
|
387,524 |
|
|
|
387,524 |
|
Services |
|
|
323,022 |
|
|
|
- |
|
|
|
323,022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia/Asia |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
1,175,276 |
|
|
|
- |
|
|
|
1,175,276 |
|
Equipment Rentals |
|
|
(3,245 |
) |
|
|
- |
|
|
|
(3,245 |
) |
Software Sales |
|
|
211,193 |
|
|
|
- |
|
|
|
211,193 |
|
Services |
|
|
136,395 |
|
|
|
- |
|
|
|
136,395 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Middle East & Africa |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
584,417 |
|
|
|
- |
|
|
|
584,417 |
|
Equipment Rentals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
Software Sales |
|
|
14,223 |
|
|
|
- |
|
|
|
14,223 |
|
Services |
|
|
13,672 |
|
|
|
- |
|
|
|
13,672 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,926,491 |
|
|
$ |
1,851,982 |
|
|
$ |
5,778,473 |
|
|
|
For the Three Months Ended July 31, 2018 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Geographic Area |
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
$ |
595,746 |
|
|
$ |
1,464,458 |
|
|
$ |
2,060,204 |
|
Europe |
|
|
1,198,814 |
|
|
|
387,524 |
|
|
|
1,586,338 |
|
Australia/Asia |
|
|
1,519,619 |
|
|
|
- |
|
|
|
1,519,619 |
|
Middle East & Africa |
|
|
612,312 |
|
|
|
- |
|
|
|
612,312 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,926,491 |
|
|
$ |
1,851,982 |
|
|
$ |
5,778,473 |
|
|
|
For the Three Months Ended July 31, 2018 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Product Line |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
1,987,591 |
|
|
$ |
- |
|
|
$ |
1,987,591 |
|
Equipment Rentals |
|
|
1,057,644 |
|
|
|
- |
|
|
|
1,057,644 |
|
Software Sales |
|
|
273,297 |
|
|
|
- |
|
|
|
273,297 |
|
Engineering Parts |
|
|
- |
|
|
|
1,844,486 |
|
|
|
1,844,486 |
|
Services |
|
|
607,959 |
|
|
|
7,496 |
|
|
|
615,455 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,926,491 |
|
|
$ |
1,851,982 |
|
|
$ |
5,778,473 |
|
|
|
For the Nine Months Ended July 31, 2019 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Disaggregation of Total Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
560,339 |
|
|
$ |
57,545 |
|
|
$ |
617,884 |
|
Equipment Rentals |
|
|
446,594 |
|
|
|
- |
|
|
|
446,594 |
|
Software Sales |
|
|
7,250 |
|
|
|
- |
|
|
|
7,250 |
|
Engineering Parts |
|
|
- |
|
|
|
6,827,221 |
|
|
|
6,827,221 |
|
Services |
|
|
915,837 |
|
|
|
1,646,694 |
|
|
|
2,562,531 |
|
Europe |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
1,189,162 |
|
|
|
114,214 |
|
|
|
1,303,376 |
|
Equipment Rentals |
|
|
974,394 |
|
|
|
- |
|
|
|
974,394 |
|
Software Sales |
|
|
167,903 |
|
|
|
- |
|
|
|
167,903 |
|
Engineering Parts |
|
|
- |
|
|
|
1,023,822 |
|
|
|
1,023,822 |
|
Services |
|
|
628,235 |
|
|
|
59,553 |
|
|
|
687,788 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia/Asia |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
2,707,978 |
|
|
|
- |
|
|
|
2,707,978 |
|
Equipment Rentals |
|
|
518,392 |
|
|
|
- |
|
|
|
518,392 |
|
Software Sales |
|
|
283,419 |
|
|
|
- |
|
|
|
283,419 |
|
Services |
|
|
543,314 |
|
|
|
- |
|
|
|
543,314 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Middle East & Africa |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
300,859 |
|
|
|
- |
|
|
|
300,859 |
|
Equipment Rentals |
|
|
36,130 |
|
|
|
- |
|
|
|
36,130 |
|
Software Sales |
|
|
58,826 |
|
|
|
- |
|
|
|
58,826 |
|
Services |
|
|
142,597 |
|
|
|
- |
|
|
|
142,597 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
9,481,229 |
|
|
$ |
9,729,049 |
|
|
$ |
19,210,278 |
|
|
|
For the Nine Months Ended July 31, 2019 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Geographic Area |
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
$ |
1,930,020 |
|
|
$ |
8,531,460 |
|
|
$ |
10,461,480 |
|
Europe |
|
|
2,959,694 |
|
|
|
1,197,589 |
|
|
|
4,157,283 |
|
Australia/Asia |
|
|
4,053,103 |
|
|
|
- |
|
|
|
4,053,103 |
|
Middle East & Africa |
|
|
538,412 |
|
|
|
- |
|
|
|
538,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
9,481,229 |
|
|
$ |
9,729,049 |
|
|
$ |
19,210,278 |
|
|
|
For the Nine Months Ended July 31, 2019 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Product Line |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
4,758,338 |
|
|
$ |
171,759 |
|
|
$ |
4,930,097 |
|
Equipment Rentals |
|
|
1,975,510 |
|
|
|
- |
|
|
|
1,975,510 |
|
Software Sales |
|
|
517,398 |
|
|
|
- |
|
|
|
517,398 |
|
Engineering Parts |
|
|
- |
|
|
|
7,851,043 |
|
|
|
7,851,043 |
|
Services |
|
|
2,229,983 |
|
|
|
1,706,247 |
|
|
|
3,936,230 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
9,481,229 |
|
|
$ |
9,729,049 |
|
|
$ |
19,210,278 |
|
|
|
For the Nine Months Ended July 31, 2018 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Disaggregation of Total Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
712,945 |
|
|
$ |
- |
|
|
$ |
712,945 |
|
Equipment Rentals |
|
|
457,690 |
|
|
|
- |
|
|
|
457,690 |
|
Software Sales |
|
|
52,145 |
|
|
|
- |
|
|
|
52,145 |
|
Engineering Parts |
|
|
- |
|
|
|
2,826,029 |
|
|
|
2,826,029 |
|
Services |
|
|
730,453 |
|
|
|
95,082 |
|
|
|
825,535 |
|
Europe |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
1,030,167 |
|
|
|
192,078 |
|
|
|
1,222,245 |
|
Equipment Rentals |
|
|
1,065,417 |
|
|
|
- |
|
|
|
1,065,417 |
|
Software Sales |
|
|
176,657 |
|
|
|
- |
|
|
|
176,657 |
|
Engineering Parts |
|
|
- |
|
|
|
1,099,513 |
|
|
|
1,099,513 |
|
Services |
|
|
611,154 |
|
|
|
- |
|
|
|
611,154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Australia/Asia |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
1,590,510 |
|
|
|
- |
|
|
|
1,590,510 |
|
Equipment Rentals |
|
|
69,019 |
|
|
|
- |
|
|
|
69,019 |
|
Software Sales |
|
|
369,167 |
|
|
|
- |
|
|
|
369,167 |
|
Services |
|
|
221,940 |
|
|
|
- |
|
|
|
221,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Middle East & Africa |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
905,933 |
|
|
|
- |
|
|
|
905,933 |
|
Equipment Rentals |
|
|
11,444 |
|
|
|
- |
|
|
|
11,444 |
|
Software Sales |
|
|
75,519 |
|
|
|
- |
|
|
|
75,519 |
|
Services |
|
|
62,564 |
|
|
|
- |
|
|
|
62,564 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
8,142,724 |
|
|
$ |
4,212,702 |
|
|
$ |
12,355,426 |
|
|
|
For the Nine Months Ended July 31, 2018 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Geographic Area |
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
$ |
1,953,233 |
|
|
$ |
2,921,111 |
|
|
$ |
4,874,344 |
|
Europe |
|
|
2,883,395 |
|
|
|
1,291,591 |
|
|
|
4,174,986 |
|
Australia/Asia |
|
|
2,250,636 |
|
|
|
- |
|
|
|
2,250,636 |
|
Middle East & Africa |
|
|
1,055,460 |
|
|
|
- |
|
|
|
1,055,460 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
8,142,724 |
|
|
$ |
4,212,702 |
|
|
$ |
12,355,426 |
|
|
|
For the Nine Months Ended July 31, 2018 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Product Line |
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
4,239,555 |
|
|
$ |
192,078 |
|
|
$ |
4,431,633 |
|
Equipment Rentals |
|
|
1,603,570 |
|
|
|
- |
|
|
|
1,603,570 |
|
Software Sales |
|
|
673,488 |
|
|
|
- |
|
|
|
673,488 |
|
Engineering Parts |
|
|
- |
|
|
|
3,925,542 |
|
|
|
3,925,542 |
|
Services |
|
|
1,626,111 |
|
|
|
95,082 |
|
|
|
1,721,193 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
8,142,724 |
|
|
$ |
4,212,702 |
|
|
$ |
12,355,426 |
|
|