v3.25.2
Segment Information
 12 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment InformationWe operate our business through a number of different operating subsidiaries, which are organized into three reportable segments based on the type of work performed and the markets serviced:
•Storage and Terminal Solutions: primarily consists of engineering, procurement, fabrication, and construction services related to cryogenic and other specialty tanks and terminals for LNG, NGLs, hydrogen, ammonia, propane, butane, liquid nitrogen/liquid oxygen, and liquid petroleum. We also perform work related to traditional aboveground crude oil and refined product storage tanks and terminals. This segment also includes terminal balance of plant work, truck and rail loading/offloading facilities, and marine structures as well as storage tank and terminal maintenance and repair. Finally, we manufacture and sell precision engineered specialty tank products, including geodesic domes, aluminum internal floating roofs, floating suction and skimmer systems, roof drain systems and floating roof seals.
•Utility and Power Infrastructure: primarily consists of engineering, procurement, fabrication, and construction services to support growing demand for LNG utility peak shaving facilities. We also perform power delivery work for public and private utilities, including construction of new substations, upgrades of existing substations, and maintenance. We also provide construction services to a variety of power generation facilities, including natural gas fired facilities in simple or combined cycle configurations.
•Process and Industrial Facilities: primarily consists of plant maintenance, repair, and turnarounds in the downstream and midstream markets for energy clients including refining and processing of crude oil, fractionating, and marketing of natural gas and natural gas liquids. We also perform engineering, procurement, fabrication, and construction for refinery upgrades and retrofits for renewable fuels, including hydrogen processing, production, loading and distribution facilities. We also engineer and construct thermal vacuum test chambers for aerospace and defense industries and other infrastructure for industries including chemicals, petrochemical, sulfur, mining and minerals primarily in the extraction of non-ferrous metals, cement, agriculture, wastewater treatment facilities and other industrial customers.
Our Chief Operating Decision Maker ("CODM") is our President and Chief Executive Officer, who regularly reviews operating and financial performance based on our segments. The Company's CODM uses segment operating income as the key metric in evaluating segment performance. The CODM uses this metric in the budget and forecasting processes. The CODM considers
budget-to-actual and forecast-to-actual variances when making decisions about allocating resources, including capital and personnel, to the segments.
We incur certain expenses at the corporate level that relate to our business as a whole. A portion of these expenses are allocated to our business segments. The balance of the corporate level expenses are reported in the "Corporate Selling, general and administrative expenses" line, which is primarily comprised of corporate facility expense, the cost of the executive management team, and other expenses pertaining to certain centralized functions that benefit the entire Company but are not directly attributable to any specific business segment, such as corporate human resources, legal, governance, compliance and finance functions. The accounting policies of the segments are the same as those described in the Summary of Significant Accounting Policies (see Note 1). We eliminate intersegment sales; therefore, no intercompany profit or loss is recognized. Segment assets consist primarily of accounts receivable, costs and estimated earnings in excess of billings on uncompleted contracts, property, plant and equipment, right-of-use lease assets, goodwill and other intangible assets. Corporate assets consist primarily of cash,
restricted cash, prepaid expenses, corporate fixed assets, and corporate operating lease right-of-use assets.
Operating Segment Information - The following tables set forth certain selected financial information for our operating segments for the periods indicated:

(In thousands)

Storage and Terminal SolutionsUtility and Power InfrastructureProcess and Industrial FacilitiesCorporateTotal
Fiscal Year Ended June 30, 2025
Total revenue (1)
$365,891 $248,691 $154,704 $— $769,286 
Cost of revenue(351,236)(231,776)(145,794)(803)(729,609)
Gross profit (loss)14,655 16,915 8,910 (803)39,677 
Selling, general and administrative expenses23,538 12,363 8,293 26,979 71,173 
Restructuring costs323 718 138 2,393 3,572 
Operating income (loss)$(9,206)$3,834 $479 $(30,175)$(35,068)
(1) Total revenues are net of inter-segment revenues which are primarily Process and Industrial Facilities and were $2.1 million for the year ended June 30, 2025.
Capital expenditures$3,516 $1,123 $1,454 $1,592 $7,685 
Depreciation and amortization$5,042 $3,119 $1,636 $215 $10,012 
Storage and Terminal SolutionsUtility and Power InfrastructureProcess and Industrial FacilitiesCorporateTotal
Fiscal Year Ended June 30, 2024
Total revenue (1)
$276,800 $183,920 $266,260 $1,233 $728,213 
Cost of revenue(265,503)(174,688)(244,408)(3,141)(687,740)
Gross profit (loss)11,297 9,232 21,852 (1,908)40,473 
Selling, general and administrative expenses19,823 8,844 10,354 31,064 70,085 
Restructuring costs— 52 215 234 501 
Operating income (loss)$(8,526)$336 $11,283 $(33,206)$(30,113)
(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $2.4 million for the year ended June 30, 2024.
Capital expenditures$4,641 $581 $476 $1,296 $6,994 
Depreciation and amortization$4,958 $3,000 $2,840 $225 $11,023 
Storage and Terminal SolutionsUtility and Power InfrastructureProcess and Industrial FacilitiesCorporateTotal
Fiscal Year Ended June 30, 2023
Total revenue (1)
$255,693 $169,504 $369,823 $— $795,020 
Cost of revenue(245,223)(158,805)(359,067)(1,105)(764,200)
Gross profit (loss)10,470 10,699 10,756 (1,105)30,820 
Selling, general and administrative expenses20,054 7,045 14,909 26,241 68,249 
Goodwill impairment— — 12,316 — 12,316 
Restructuring costs969 37 972 1,164 3,142 
Operating income (loss)$(10,553)$3,617 $(17,441)$(28,510)$(52,887)
(1) Total revenues are net of inter-segment revenues which are primarily Storage and Terminal Solutions and were $5.6 million for the year ended June 30, 2023.
Capital expenditures$1,406 $4,501 $2,775 $327 $9,009 
Depreciation and amortization$3,281 $3,465 $4,783 $2,165 $13,694 
Total Assets by Segment
June 30, 2025June 30, 2024
(In thousands)
Storage and Terminal Solutions$194,354 $138,529 
Utility and Power Infrastructure98,582 84,108 
Process and Industrial Facilities39,490 81,524 
Corporate267,830 147,190 
Total Segment Assets$600,256 $451,351 
Geographical Disaggregation of Long-Lived Assets
The following table presents our long-lived tangible assets including property, plant and equipment, net, and operating right-of-use lease assets at June 30, 2025 and 2024:
June 30, 2025June 30, 2024
(In thousands)
United States$55,137 $57,520 
Canada1,150 1,368 
Other international3,637 3,760 
Total Long-Lived Assets$59,924 $62,648 

Information about Significant Customers by Segment:
Significant Customers as a Percentage of Segment Revenue
ConsolidatedStorage and Terminal
Solutions		Utility and Power
Infrastructure		Process and Industrial Facilities
Fiscal Year ended June 30, 2025
Customer one17.4 %0.7 %52.7 %— %
Customer two10.5 %21.0 %1.6 %— %
Fiscal Year ended June 30, 2024
Customer three10.5 %27.7 %— %— %
Customer four10.3 %— %— %28.2 %
Fiscal Year ended June 30, 2023
Customer five10.7 %— %— %22.9 %