Quarterly report pursuant to Section 13 or 15(d)

SEGMENT INFORMATION AND MAJOR CUSTOMERS

v3.8.0.1
SEGMENT INFORMATION AND MAJOR CUSTOMERS
 9 Months Ended
Sep. 30, 2017
Segment Reporting [Abstract]  
SEGMENT INFORMATION AND MAJOR CUSTOMERS

NOTE 16 - SEGMENT INFORMATION AND MAJOR CUSTOMERS

 

The Company currently has identified three segments as follows:

 

REGS Industrial Cleaning
MV and SEM Environmental Solutions
PWS Solid Waste

 

Reach has had minimal operations through September 30, 2017. Substantially all of the assets and liabilities of Tactical, the rail car cleaning segment, was sold July 31, 2017 (Note 11).

 

The composition of our reportable segments is consistent with that used by our Chief Operating Decision Maker (“CODM”) to evaluate performance and allocate resources. All of our operations are located in the U.S. We have not allocated corporate selling, general and administrative expenses, and stock-based compensation to the segments. All intercompany transactions have been eliminated.

 

Segment information for the three months ended September 30, 2017 and 2016 is as follows:

 

2017   Industrial     Environmental     Solid              
    Cleaning (2)     Solutions     Waste     Corporate     Total (3)  
                               
Revenue   $ 413,000     $ 717,300     $ 453,100     $ —     $ 1,583,400  
Depreciation and amortization (1)     87,800       37,000       33,500       28,300       186,600  
Interest expense     5,400       3,300       —       247,300       256,000  
Stock-based compensation     —       —       —       37,200       37,200  
Net income (loss)     (319,900 )     (64,700 )     (53,200 )     (940,200 )     (1,378,000 )

Capital expenditures (cash and noncash)

     179,100       —       —       —       179,100  
Total assets   $ 673,400       1,749,800     $ 1,451,800     $ 1,802,900     $ 5,677,900  
                               
2016   Industrial     Environmental     Solid              
    Cleaning (2)     Solutions     Waste     Corporate     Total (3)  
                               
Revenue   $ 167,600     $ 1,749,100     $ 41,900     $ —     $ 1,958,600  
Depreciation and amortization (1)     81,700       42,700       31,500       24,800       180,700  
Interest expense     7,600       5,300       —       42,800       55,700  
Stock-based compensation     —       —       —       10,900       10,900  
Net income (loss)     (558,700 )     217,000       (197,800 )     (391,500 )     (931,000 )

Capital expenditures (cash and noncash)

     6,300       —       5,200       —       11,500  
Total assets   $ 1,118,300     $ 2,349,300     $ 2,914,500     $ 1,083,100     $ 7,465,200  

 

Segment information for the nine months ended September 30, 2017 and 2016 is as follows:

 

2017   Industrial     Environmental     Solid              
    Cleaning (2)     Solutions     Waste     Corporate     Total (3)  
                               
Revenue   $ 1,803,000     $ 4,268,800     $ 596,900     $ —     $ 6,668,700  
Depreciation and amortization (1)     257,700       153,400       108,700       75,500       595,300  
Interest expense     17,800       12,300       100       1,182,300       1,212,500  
Stock-based compensation     —       —       —       94,000       94,000  
Net income (loss)     (789,100 )     395,700       (252,100 )     (2,967,400 )     (3,612,900 )

Capital expenditures (cash and noncash)

     239,500       1,300       —       —       240,800  
Total assets   $ 673,400       1,749,800     $ 1,451,800     $ 1,802,900     $ 5,677,900  
                               
2016   Industrial     Environmental     Solid              
    Cleaning (2)     Solutions     Waste     Corporate     Total (3)  
                               
Revenue   $ 2,423,800     $ 3,454,500     $ 170,100     $ —     $ 6,048,400  
Depreciation and amortization (1)     251,100       125,500       96,300       98,000       570,900  
Interest expense     25,100       17,500       500       212,100       255,200  
Stock-based compensation     —       —       —       84,000       84,000  
Net income (loss)     88,500       91,000       (303,400 )     (1,022,500 )     (1,146,400 )

Capital expenditures (cash and noncash)

     129,400       12,900       12,100       —       154,400  
Total assets   $ 1,118,300     $ 2,349,300     $ 2,914,500     $ 1,083,100     $ 7,465,200  

(1) Includes depreciation of property, equipment and leasehold improvement and amortization of intangibles.
(2) Includes mobile rail car cleaning and excludes locations classified as discontinued operations.
(3) Excludes discontinued operations.