BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

10. BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

The Company follows ASC 280 - Segment Reporting in determining its reportable segments. The Company considered the way its management team, most notably its chief operating decision maker, makes operating decisions and assesses performance and considered which components of the Company’s enterprise have discrete financial information available. As the Company makes decisions using a manufactured products vs. distributed products and services group focus, its analysis resulted in two reportable segments: T&D Solutions and Critical Power. The Critical Power reportable segment is the Company’s Titan Energy Systems, Inc. business unit. The T&D Solutions reportable segment is the Company’s Pioneer Custom Electrical Products Corp. business unit.

The T&D Solutions segment is involved in the design, manufacture and sale of circuit protection and controls equipment used primarily by large industrial and commercial operations to manage their electrical power distribution needs. The Critical Power segment provides mobile high capacity charging equipment, power generation equipment and aftermarket field-services in order to help customers secure fast vehicle charging where fixed charging infrastructure does not exist, and additionally to ensure smooth, uninterrupted power to operations during times of emergency.

The following tables present information about segment income and loss:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022 (Revised)		2023		2022 (Revised)
Revenues
T&D Solutions
Power Systems	$	9,224	$	2,543	$	14,985	$	6,256
Service		-		-		-		10
		9,224		2,543		14,985		6,266
Critical Power Solutions
Equipment		1,016		463		1,701		1,578
Service		1,890		1,857		3,952		3,381
		2,906		2,320		5,653		4,959
Consolidated	$	12,130	$	4,863	$	20,638	$	11,225

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
Depreciation and amortization
T&D Solutions	$	17	$	11	$	33	$	21
Critical Power Solutions		209		92		395		162
Unallocated corporate overhead expenses		2		7		4		14
Consolidated	$	228	$	110	$	432	$	197

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2023			2022 (Revised)			2023			2022 (Revised)
Operating income (loss)
T&D Solutions	$	1,808		$	(442	)	$	3,050		$	(353	)
Critical Power Solutions		(506	)		(757	)		(943	)		(911	)
Unallocated corporate overhead expenses		(1,680	)		(1,323	)		(2,429	)		(2,081	)
Consolidated	$	(378	)	$	(2,522	)	$	(322	)	$	(3,345	)

Revenues are attributable to countries based on the location of the Company’s customers:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022 (Revised)		2023		2022 (Revised)
Revenues
United States	$	12,130	$	4,863	$	20,638	$	11,225