Segment Reporting

9 Months Ended

Sep. 30, 2019

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, 2019:
Net sales	$ 7,306,895	$ 882,010	0	$ 8,188,905
Depreciation	305,082	32,507	9,742	347,331
Segment operating profit	605,503	336,320	0	941,823
Selling and administrative expenses	0	0	(563,705)	(563,705)
Interest income	0	0	36,679	36,679
Income before income taxes				$ 414,797
Capital expenditures	267,179	2,576	0	269,755
Segment assets:
Accounts receivable, net	5,174,674	439,348	0	5,614,022
Inventories, net	4,294,760	1,181,573	0	5,476,333
Property, plant and equipment, net	11,126,165	1,715,513	949,254	13,790,932
Other assets	0	0	8,195,043	8,195,043
				$ 33,076,330
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
Nine Months Ended September 30, 2019:
Net sales	$ 22,702,719	$ 2,983,315	0	$ 25,686,034
Depreciation	907,887	92,884	29,227	1,029,998
Segment operating profit	1,681,703	988,196	0	2,669,899
Selling and administrative expenses	0	0	(1,705,159)	(1,705,159)
Interest income	0	0	108,458	108,458
Income before income taxes				$ 1,073,198
Capital expenditures	1,307,859	228,900	26,025	1,562,784
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