Segment Analysis |
NOTE 14 – SEGMENT ANALYSIS
Based on the fundamental differences
in the types of offerings (services versus products sale/rental), we operate two distinct reportable segments which are managed
separately. Coda Octopus Martech and Coda Octopus Colmek (“Services Segment” or “Marine Engineering Business”)
are providing engineering services as sub-contractors mainly to prime defense contractors and Coda Octopus Products operations
are comprised primarily of product sales, technology solutions sales, rental of equipment and/or software and associated services
(“Products Segment” or “Marine Technology Business”).
Segment operating income is total
segment revenue reduced by operating expenses identifiable with the business segment. Corporate includes general corporate administrative
costs (“Overhead”).
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 reported in our Form 10-K - Consolidated Financial Statements of October
31, 2019 which was filed with the Securities Exchange Commission on January 28, 2020.
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, 2020 and 2019, respectively.
The Company’s reportable business
segments sell their goods and services 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,
2020 and 2019 respectively:
|
|
Marine
Technology
Business
(Products) |
|
|
Marine
Engineering
Business
(Services) |
|
|
Overhead |
|
|
Total |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended July 31, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
3,053,070 |
|
|
$ |
2,342,966 |
|
|
$ |
- |
|
|
$ |
5,396,036 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
653,117 |
|
|
|
1,123,751 |
|
|
|
- |
|
|
|
1,776,868 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
2,399,953 |
|
|
|
1,219,215 |
|
|
|
- |
|
|
|
3,619,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
394,332 |
|
|
|
352,625 |
|
|
|
25,684 |
|
|
|
772,641 |
|
Selling, General & Administrative |
|
|
496,772 |
|
|
|
515,547 |
|
|
|
513,150 |
|
|
|
1,525,469 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
891,104 |
|
|
|
868,172 |
|
|
|
538,834 |
|
|
|
2,298,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
1,508,849 |
|
|
|
351,043 |
|
|
|
(538,834 |
) |
|
|
1,321,058 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other (Expense) Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
3,745 |
|
|
|
126 |
|
|
|
- |
|
|
|
3,871 |
|
Interest Expense |
|
|
(1,718 |
) |
|
|
(4,672 |
) |
|
|
(10,190 |
) |
|
|
(16,580 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
2,027 |
|
|
|
(4,546 |
) |
|
|
(10,190 |
) |
|
|
(12,709 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before Income Taxes |
|
|
1,510,876 |
|
|
|
346,497 |
|
|
|
(549,024 |
) |
|
|
1,308,349 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax (Expense) Benefit |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit (Expense) |
|
|
5,532 |
|
|
|
- |
|
|
|
(3,948 |
) |
|
|
1,584 |
|
Deferred Tax (Expense) Benefit |
|
|
(236,356 |
) |
|
|
15,155 |
|
|
|
(65,979 |
) |
|
|
(287,180 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Income Tax (Expense) Benefit |
|
|
(230,824 |
) |
|
|
15,155 |
|
|
|
(69,927 |
) |
|
|
(285,596 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
1,280,052 |
|
|
$ |
361,652 |
|
|
$ |
(618,951 |
) |
|
$ |
1,022,753 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
22,149,613 |
|
|
$ |
14,439,917 |
|
|
$ |
678,515 |
|
|
$ |
37,268,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
1,737,007 |
|
|
$ |
1,392,816 |
|
|
$ |
767,393 |
|
|
$ |
3,897,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
498,312 |
|
|
$ |
8,976 |
|
|
$ |
1,350,000 |
|
|
$ |
1,857,288 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
261,975 |
|
|
$ |
43,263 |
|
|
$ |
4,677 |
|
|
$ |
309,915 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Sales) Purchases of Long-lived Assets |
|
$ |
317,892 |
|
|
$ |
23,288 |
|
|
$ |
- |
|
|
$ |
341,180 |
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax (Expense) Benefit |
|
|
(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 |
|
|
$ |
888,857 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended July 31, 2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from External Customers |
|
$ |
8,377,081 |
|
|
$ |
6,989,152 |
|
|
$ |
- |
|
|
$ |
15,366,233 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of Revenues |
|
|
1,715,647 |
|
|
|
3,831,564 |
|
|
|
- |
|
|
|
5,547,211 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Profit |
|
|
6,661,434 |
|
|
|
3,157,588 |
|
|
|
- |
|
|
|
9,819,022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research & Development |
|
|
1,393,757 |
|
|
|
830,008 |
|
|
|
190,782 |
|
|
|
2,414,547 |
|
Selling, General & Administrative |
|
|
2,056,947 |
|
|
|
1,678,882 |
|
|
|
1,214,528 |
|
|
|
4,950,357 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Expenses |
|
|
3,450,704 |
|
|
|
2,508,890 |
|
|
|
1,405,310 |
|
|
|
7,364,904 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (Loss) from Operations |
|
|
3,210,730 |
|
|
|
648,698 |
|
|
|
(1,405,310 |
) |
|
|
2,454,118 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
16,242 |
|
|
|
142 |
|
|
|
- |
|
|
|
16,384 |
|
Interest Expense |
|
|
(7,345 |
) |
|
|
(12,313 |
) |
|
|
(34,992 |
) |
|
|
(54,650 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Other Income (Expense) |
|
|
8,897 |
|
|
|
(12,171 |
) |
|
|
(34,992 |
) |
|
|
(38,266 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) before Income Taxes |
|
|
3,219,627 |
|
|
|
636,527 |
|
|
|
(1,440,302 |
) |
|
|
2,415,852 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Tax Benefit (Expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Tax Benefit (Expense) |
|
|
24,968 |
|
|
|
- |
|
|
|
(11,905 |
) |
|
|
13,063 |
|
Deferred Tax (Expense) Benefit |
|
|
(315,849 |
) |
|
|
145,713 |
|
|
|
(154,333 |
) |
|
|
(324,469 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Income Tax (Expense) Benefit |
|
|
(290,881 |
) |
|
|
145,713 |
|
|
|
(166,238 |
) |
|
|
(311,406 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
2,928,746 |
|
|
$ |
782,240 |
|
|
$ |
(1,606,540 |
) |
|
$ |
2,104,446 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Supplemental Disclosures |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets |
|
$ |
22,149,613 |
|
|
$ |
14,439,917 |
|
|
$ |
678,515 |
|
|
$ |
37,268,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Liabilities |
|
$ |
1,737,007 |
|
|
$ |
1,392,816 |
|
|
$ |
767,393 |
|
|
$ |
3,897,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenues from Intercompany Sales - eliminated from sales above |
|
$ |
801,134 |
|
|
$ |
109,505 |
|
|
$ |
2,025,000 |
|
|
$ |
2,935,639 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and Amortization |
|
$ |
539,567 |
|
|
$ |
89,688 |
|
|
$ |
14,080 |
|
|
$ |
643,335 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Purchases of Long-lived Assets |
|
$ |
758,619 |
|
|
$ |
24,440 |
|
|
$ |
48,519 |
|
|
$ |
831,578 |
|
|
|
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 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
For the Three Months Ended July 31, 2020 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Disaggregation of Total Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
426,319 |
|
|
$ |
- |
|
|
$ |
426,319 |
|
|
Equipment Rentals |
|
|
37,334 |
|
|
|
- |
|
|
|
37,334 |
|
|
Software Sales |
|
|
28,385 |
|
|
|
- |
|
|
|
28,385 |
|
|
Engineering Parts |
|
|
- |
|
|
|
1,466,742 |
|
|
|
1,466,742 |
|
|
Services |
|
|
579,855 |
|
|
|
286,920 |
|
|
|
866,775 |
|
Europe |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
71,239 |
|
|
|
160,537 |
|
|
|
231,776 |
|
|
Equipment Rentals |
|
|
81,766 |
|
|
|
- |
|
|
|
81,766 |
|
|
Software Sales |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Engineering Parts |
|
|
- |
|
|
|
428,767 |
|
|
|
428,767 |
|
|
Services |
|
|
87,122 |
|
|
|
- |
|
|
|
87,122 |
|
Australia/Asia |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
1,538,202 |
|
|
|
- |
|
|
|
1,538,202 |
|
|
Equipment Rentals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Software Sales |
|
|
62,155 |
|
|
|
- |
|
|
|
62,155 |
|
|
Services |
|
|
118,287 |
|
|
|
- |
|
|
|
118,287 |
|
Middle East & Africa |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Equipment Rentals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
Software Sales |
|
|
22,406 |
|
|
|
- |
|
|
|
22,406 |
|
|
Services |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,053,070 |
|
|
$ |
2,342,966 |
|
|
$ |
5,396,036 |
|
|
|
For the Three Months Ended July 31, 2020 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Geographic Area |
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
$ |
1,071,893 |
|
|
$ |
1,753,662 |
|
|
$ |
2,825,555 |
|
|
Europe |
|
|
240,127 |
|
|
|
589,304 |
|
|
|
829,431 |
|
|
Australia/Asia |
|
|
1,718,644 |
|
|
|
- |
|
|
|
1,718,644 |
|
|
Middle East & Africa |
|
|
22,406 |
|
|
|
- |
|
|
|
22,406 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,053,070 |
|
|
$ |
2,342,966 |
|
|
$ |
5,396,036 |
|
|
|
For the Three Months Ended July 31, 2020 |
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Product Line |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
2,058,166 |
|
|
$ |
160,537 |
|
|
$ |
2,218,703 |
|
|
Equipment Rentals |
|
|
119,100 |
|
|
|
- |
|
|
|
119,100 |
|
|
Software Sales |
|
|
90,540 |
|
|
|
- |
|
|
|
90,540 |
|
|
Engineering Parts |
|
|
- |
|
|
|
1,895,509 |
|
|
|
1,895,509 |
|
|
Services |
|
|
785,264 |
|
|
|
286,920 |
|
|
|
1,072,184 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
3,053,070 |
|
|
$ |
2,342,966 |
|
|
$ |
5,396,036 |
|
|
|
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 Nine Months Ended July 31, 2020 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Disaggregation of Total Net Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
847,494 |
|
|
$ |
- |
|
|
$ |
847,494 |
|
|
Equipment Rentals |
|
|
118,672 |
|
|
|
- |
|
|
|
118,672 |
|
|
Software Sales |
|
|
35,635 |
|
|
|
- |
|
|
|
35,635 |
|
|
Engineering Parts |
|
|
- |
|
|
|
3,960,340 |
|
|
|
3,960,340 |
|
|
Services |
|
|
1,125,062 |
|
|
|
939,336 |
|
|
|
2,064,398 |
|
Europe |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
478,949 |
|
|
|
160,537 |
|
|
|
639,486 |
|
|
Equipment Rentals |
|
|
427,249 |
|
|
|
- |
|
|
|
427,249 |
|
|
Software Sales |
|
|
109,681 |
|
|
|
- |
|
|
|
109,681 |
|
|
Engineering Parts |
|
|
- |
|
|
|
1,923,532 |
|
|
|
1,923,532 |
|
|
Services |
|
|
363,255 |
|
|
|
5,407 |
|
|
|
368,662 |
|
Australia/Asia |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
3,876,850 |
|
|
|
- |
|
|
|
3,876,850 |
|
|
Equipment Rentals |
|
|
401,151 |
|
|
|
- |
|
|
|
401,151 |
|
|
Software Sales |
|
|
190,745 |
|
|
|
- |
|
|
|
190,745 |
|
|
Services |
|
|
291,644 |
|
|
|
- |
|
|
|
291,644 |
|
Middle East & Africa |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
|
38,244 |
|
|
|
- |
|
|
|
38,244 |
|
|
Equipment Rentals |
|
|
592 |
|
|
|
- |
|
|
|
592 |
|
|
Software Sales |
|
|
22,406 |
|
|
|
- |
|
|
|
22,406 |
|
|
Services |
|
|
49,452 |
|
|
|
- |
|
|
|
49,452 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
8,377,081 |
|
|
$ |
6,989,152 |
|
|
$ |
15,366,233 |
|
|
|
For the Nine Months Ended July 31, 2020 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Geographic Area |
|
|
|
|
|
|
|
|
|
|
|
|
|
Americas |
|
$ |
2,126,863 |
|
|
$ |
4,899,676 |
|
|
$ |
7,026,539 |
|
|
Europe |
|
|
1,379,134 |
|
|
|
2,089,476 |
|
|
|
3,468,610 |
|
|
Australia/Asia |
|
|
4,760,390 |
|
|
|
- |
|
|
|
4,760,390 |
|
|
Middle East & Africa |
|
|
110,694 |
|
|
|
- |
|
|
|
110,694 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
8,377,081 |
|
|
$ |
6,989,152 |
|
|
$ |
15,366,233 |
|
|
|
For the Nine Months Ended July 31, 2020 |
|
|
|
Marine |
|
|
Marine |
|
|
|
|
|
|
Technology |
|
|
Engineering |
|
|
Grand |
|
|
|
Business |
|
|
Business |
|
|
Total |
|
Total Net Sales by Product Line |
|
|
|
|
|
|
|
|
|
|
|
|
|
Equipment Sales |
|
$ |
5,241,537 |
|
|
$ |
160,537 |
|
|
$ |
5,402,074 |
|
|
Equipment Rentals |
|
|
947,664 |
|
|
|
- |
|
|
|
947,664 |
|
|
Software Sales |
|
|
358,467 |
|
|
|
- |
|
|
|
358,467 |
|
|
Engineering Parts |
|
|
- |
|
|
|
5,883,872 |
|
|
|
5,883,872 |
|
|
Services |
|
|
1,829,413 |
|
|
|
944,743 |
|
|
|
2,774,156 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Net Sales |
|
$ |
8,377,081 |
|
|
$ |
6,989,152 |
|
|
$ |
15,366,233 |
|
|
|
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 |
|
|