Segment Reporting

3 Months Ended

Mar. 31, 2023

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 March 31, 2023:
Net sales	$      7,856,813	$      872,912	0	$      8,729,725
Depreciation	272,636	30,732	2,664	306,032
Segment operating profit (loss)	(428,501)	189,315	0	(239,186)
Selling and administrative expenses	0	0	(538,537)	(538,537)
Interest income	0	0	40,586	40,586
Loss before income taxes				$     (737,137)
Capital expenditures	336,066	0	77,353	413,419
Segment assets:
Accounts receivable, net	5,857,565	315,509	0	6,173,074
Inventories, net	8,566,031	1,432,921	0	9,998,952
Property, plant and equipment, net	9,625,759	1,272,765	1,070,656	11,969,180
Other assets	0	0	5,551,041	5,551,041
				$    33,692,247
Three Months Ended March 31, 2022:
Net sales	$      8,153,833	$      1,043,863	0	$      9,197,696
Depreciation	281,841	33,363	5,220	320,424
Segment operating profit	835,507	232,279	0	1,067,786
Selling and administrative expenses	0	0	(499,328)	(499,328)
Interest income	0	0	1,755	1,755
Income before income taxes				$        570,213
Capital expenditures	112,864	0	7,730	120,594
Segment assets:
Accounts receivable, net	6,151,706	486,705	0	6,638,411
Inventories, net	8,299,454	1,313,786	0	9,613,240
Property, plant and equipment, net	9,613,347	1,400,542	1,260,145	12,274,034
Other assets	0	0	4,440,615	4,440,615
				$     32,966,300