Segment Reporting

9 Months Ended

Sep. 30, 2018

Notes

Segment Reporting

7.  Segment Information—The Company operates in two business segments as determined by its products.  The fastener segment includes rivets, cold-formed fasteners and parts and screw machine products.  The assembly equipment segment includes automatic rivet setting machines and parts and tools for such machines.

  Information by segment is as follows:

	Fastener	Assembly Equipment	Other	Consolidated
Three Months Ended September 30, 2018:
Net sales	$ 7,936,798	$ 919,251	0	$ 8,856,049
Depreciation	281,418	28,358	9,869	319,645
Segment operating profit	599,188	297,009	0	896,197
Selling and administrative expenses	0	0	(563,347)	(563,347)
Interest income	0	0	30,899	30,899
Income before income taxes				$ 363,749
Capital expenditures	813,649	5,489	187,598	1,006,736
Segment assets:
Accounts receivable, net	5,961,946	540,428	0	6,502,374
Inventories, net	4,226,263	1,028,070	0	5,254,333
Property, plant and equipment, net	10,696,801	1,596,585	932,839	13,226,225
Other assets	0	0	8,446,731	8,446,731
				$ 33,429,663
Three Months Ended September 30, 2017:
Net sales	$ 7,486,193	$ 900,563	0	$ 8,386,756
Depreciation	275,820	24,390	8,970	309,180
Segment operating profit	768,247	317,602	0	1,085,849
Selling and administrative expenses	0	0	(603,809)	(603,809)
Interest income	0	0	18,795	18,795
Income before income taxes				$ 500,835
Capital expenditures	263,563	8,325	0	271,888
Segment assets:
Accounts receivable, net	5,576,022	295,070	0	5,871,092
Inventories, net	4,134,219	953,898	0	5,088,117
Property, plant and equipment, net	10,409,913	1,613,245	576,099	12,599,257
Other assets	0	0	8,452,225	8,452,225
				$ 32,010,691
Nine Months Ended September 30, 2018:
Net sales	$ 25,896,172	$ 2,764,302	0	$ 28,660,474
Depreciation	865,677	82,954	24,551	973,182
Segment operating profit	3,006,367	930,570	0	3,936,937
Selling and administrative expenses	0	0	(1,831,926)	(1,831,926)
Interest income	0	0	84,618	84,618
Income before income taxes				$ 2,189,629
Capital expenditures	1,279,568	36,984	325,902	1,642,454
Nine Months Ended September 30, 2017:
Net sales	$ 24,319,725	$ 2,985,866	0	$ 27,305,591
Depreciation	822,267	73,170	26,910	922,347
Segment operating profit	2,716,020	1,089,089	0	3,805,109
Selling and administrative expenses	0	0	(1,911,509)	(1,911,509)
Interest income	0	0	49,512	49,512
Income before income taxes				$ 1,943,112
Capital expenditures	949,333	121,713	0	1,071,046