Annual report pursuant to Section 13 and 15(d)

Segment Information

Segment Information
12 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Information

Note 15 - Segment Information:

The Company has one reporting segment as its operating segments meet the requirement for aggregation.  The Company and its operating subsidiaries design and manufacture heat transfer and vacuum equipment for the energy, defense, chemical and petrochemical markets.  Heat transfer equipment includes surface condensers, Heliflows, water heaters and various types of heat exchangers.  Vacuum equipment includes steam jet ejector vacuum systems and liquid ring vacuum pumps.  These products are sold individually or combined into package systems.  The Company also services and sells spare parts for its equipment.

See Note 2 to the consolidated financial statements for net sales by product line and geographic area.

In fiscal 2021, the Company had two customers whose sales amounted to 12% and 11% of total consolidated net sales.  In fiscal 2020 and fiscal 2019, total sales to one customer amounted to 13% and 12%, respectively, of total consolidated net sales.  The customers representing such sales were different customers in each of fiscal 2021, fiscal 2020 and fiscal 2019.