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Segment, Customer and Geographic Information (Tables)
6 Months Ended
Jun. 30, 2016
Segment Reporting [Abstract]  
Assets by Segment

The following tables are the segment operating profits and cash flow information for the three and six months ended June 30, 2016 and 2015, respectively, and the segment balance sheet information as of June 30, 2016 and December 31, 2015:

 

 

 

As of June 30, 2016

 

 

 

Connected Solutions

 

 

RF Solutions

 

 

Corporate

 

 

Total

 

Accounts receivable

 

$

10,668

 

 

$

7,523

 

 

$

0

 

 

$

18,191

 

Inventories

 

$

12,628

 

 

$

2,562

 

 

$

0

 

 

$

15,190

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-lived assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$

10,163

 

 

$

2,624

 

 

$

828

 

 

$

13,615

 

Goodwill

 

$

0

 

 

$

3,332

 

 

$

0

 

 

$

3,332

 

Intangible assets, net

 

$

311

 

 

$

4,830

 

 

$

0

 

 

$

5,141

 

Deferred tax assets, net

 

$

0

 

 

$

0

 

 

$

8,949

 

 

$

8,949

 

Other noncurrent assets

 

$

0

 

 

$

0

 

 

$

38

 

 

$

38

 

 

 

 

As of December 31, 2015

 

 

 

Connected Solutions

 

 

RF Solutions

 

 

Corporate

 

 

Total

 

Accounts receivable

 

$

12,875

 

 

$

8,126

 

 

$

0

 

 

$

21,001

 

Inventories

 

$

15,507

 

 

$

2,089

 

 

$

0

 

 

$

17,596

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-lived assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Property and equipment, net

 

$

10,250

 

 

$

2,985

 

 

$

604

 

 

$

13,839

 

Goodwill

 

$

0

 

 

$

3,332

 

 

$

0

 

 

$

3,332

 

Intangible assets, net

 

$

425

 

 

$

10,953

 

 

$

0

 

 

$

11,378

 

Deferred tax assets, net

 

$

0

 

 

$

0

 

 

$

13,155

 

 

$

13,155

 

Other noncurrent assets

 

$

0

 

 

$

0

 

 

$

40

 

 

$

40

 

 

Result of Operations by Segments

The following tables are the segment operating profits and cash flow information for the three and six months ended June 30, 2016 and 2015, respectively, and the segment balance sheet information as of June 30, 2016 and December 31, 2015:

 

 

 

Three Months Ended June 30, 2016

 

 

 

Connected Solutions

 

 

RF Solutions

 

 

Corporate

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

 

$

15,781

 

 

$

8,507

 

 

$

(45

)

 

$

24,243

 

GROSS PROFIT

 

 

4,941

 

 

 

4,286

 

 

 

10

 

 

 

9,237

 

OPERATING INCOME (LOSS)

 

$

1,792

 

 

$

(4,372

)

 

$

(2,750

)

 

$

(5,330

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

468

 

 

$

331

 

 

$

0

 

 

$

799

 

Intangible amortization

 

$

44

 

 

$

700

 

 

$

0

 

 

$

744

 

Capital expenditures

 

$

264

 

 

$

109

 

 

$

320

 

 

$

693

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2016

 

 

 

Connected Solutions

 

 

RF Solutions

 

 

Corporate

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

 

$

30,480

 

 

$

14,942

 

 

$

(105

)

 

$

45,317

 

GROSS PROFIT

 

$

9,265

 

 

$

7,016

 

 

$

7

 

 

$

16,288

 

OPERATING INCOME (LOSS)

 

$

3,094

 

 

$

(5,896

)

 

$

(5,281

)

 

$

(8,083

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

933

 

 

$

658

 

 

$

0

 

 

$

1,591

 

Intangible amortization

 

$

114

 

 

$

1,399

 

 

$

0

 

 

$

1,513

 

Capital expenditures

 

$

843

 

 

$

198

 

 

$

351

 

 

$

1,392

 

 

 

 

Three Months Ended June 30, 2015

 

 

 

Connected Solutions

 

 

RF Solutions

 

 

Corporate

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

 

$

18,100

 

 

$

9,583

 

 

$

(58

)

 

$

27,625

 

GROSS PROFIT

 

$

5,417

 

 

$

3,931

 

 

$

1

 

 

$

9,349

 

OPERATING INCOME (LOSS)

 

$

1,498

 

 

$

(347

)

 

$

(2,816

)

 

$

(1,665

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

432

 

 

$

273

 

 

$

66

 

 

$

771

 

Intangible amortization

 

$

230

 

 

$

955

 

 

$

0

 

 

$

1,185

 

Capital expenditures

 

$

341

 

 

$

550

 

 

$

42

 

 

$

933

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six Months Ended June 30, 2015

 

 

 

Connected Solutions

 

 

RF Solutions

 

 

Corporate

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REVENUES

 

$

35,454

 

 

$

18,634

 

 

$

(137

)

 

$

53,951

 

GROSS PROFIT

 

$

10,861

 

 

$

8,647

 

 

$

11

 

 

$

19,519

 

OPERATING INCOME (LOSS)

 

$

3,187

 

 

$

786

 

 

$

(5,734

)

 

$

(1,761

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

 

$

852

 

 

$

519

 

 

$

144

 

 

$

1,515

 

Intangible amortization

 

$

460

 

 

$

1,379

 

 

$

0

 

 

$

1,839

 

Capital expenditures

 

$

518

 

 

$

684

 

 

$

95

 

 

$

1,297

 

 

Revenues Attributable to Products and Services

The Company’s revenues attributable to products and services are as follows:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Products

 

$

21,308

 

 

$

23,032

 

 

$

40,491

 

 

$

46,189

 

Services

 

 

2,935

 

 

 

4,593

 

 

 

4,826

 

 

 

7,762

 

Total revenues

 

$

24,243

 

 

$

27,625

 

 

$

45,317

 

 

$

53,951

 

 

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Cost of revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Products

 

$

12,203

 

 

$

14,052

 

 

$

23,754

 

 

$

27,542

 

Services

 

 

2,803

 

 

 

4,224

 

 

 

5,275

 

 

 

6,890

 

Total cost of revenues

 

$

15,006

 

 

$

18,276

 

 

$

29,029

 

 

$

34,432

 

 

Customer Accounted Revenues by Geographic Location

 

The Company’s revenue to customers by geographic location, as a percent of total revenues, is as follows:

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

June 30,

 

 

June 30,

 

Region

 

2016

 

 

2015

 

 

2016

 

 

2015

 

Asia Pacific

 

 

16

%

 

 

7

%

 

 

17

%

 

 

8

%

Europe, Middle East, & Africa

 

 

7

%

 

 

10

%

 

 

9

%

 

 

10

%

Other Americas

 

 

6

%

 

 

7

%

 

 

6

%

 

 

6

%

Total Foreign sales

 

 

29

%

 

 

24

%

 

 

32

%

 

 

24

%