Note 10 - Segment Reporting

12 Months Ended

Jul. 28, 2012

Segment Reporting Disclosure [Text Block]

10.           SEGMENT REPORTING

The Company’s continuing operations as of July 28, 2012 include the Power Conversion Group and Other. The Other segment includes unallocated corporate costs and costs and income related to the building in Italy that was retained on the sale of Villa.  Corporate costs have been allocated to the Power Conversion Group at a standard fixed rate of $351 per year.

Selected financial data of these segments are as follows:

FISCAL YEAR ENDED JULY 28, 2012	POWER CONVERSION GROUP		OTHER			TOTAL
Net sales to external customers	$	11,438	$	-		$	11,438
Cost of sales		7,826		-			7,826
Gross margin		3,612		-			3,612
Selling, general and administrative		2,704		3,705			6,409
Research and development		161		-			161
Total operating expenses		2,865		3,705			6,570
Operating income (loss)	$	747	$	(3,705	)		(2,958	)
Interest income							238
Interest expense							(153	)
Other income							13
Income from continuing operations before income taxes						$	(2,860	)
Depreciation	$	294	$	92		$	386
Segment assets		4,910		47,887			52,797
Capital expenditures		75		-			75

Inter-segment sales were $0 for the fiscal year ended July 28, 2012.

FISCAL YEAR ENDED JULY 30, 2011	POWER CONVERSION GROUP		OTHER			TOTAL
Net sales to external customers	$	10,783	$	-		$	10,783
Cost of sales		7,870		-			7,870
Gross margin		2,913		-			2,913
Selling, general and administrative		2,694		1,600			4,294
Research and development		103		-			103
Total operating expenses		2,797		1,600			4,397
Operating income (loss)	$	116	$	(1,600	)		(1,484	)
Interest income							105
Interest expense							(132	)
Income from continuing operations, before income taxes						$	(1,511	)
Depreciation	$	303	$			$	303
Segment assets		5,998		57,883			63,881
Capital expenditures		52		--			52

Inter-segment sales were $0 for the fiscal year ended July 30, 2011.  Corporate assets include $32,006 of assets related to the discontinued operations of Villa.

FISCAL YEAR ENDED JULY 31, 2010	POWER CONVERSION GROUP		OTHER			TOTAL
Net sales to external customers	$	12,473	$	--		$	12,473
Cost of sales		8,110		--			8,110
Gross margin		4,363		--			4,363
Selling, general and administrative		2,435		1,236			3,671
Research and development		102		--			102
Total operating expenses		2,537		1,236			3,773
Operating income (loss)	$	1,826	$	(1,236	)	$	590
Operating income (loss)							11
Interest expense							(232	)
Other income							138
Income from continuing operations, before income taxes						$	507
Depreciation	$	216	$	69		$	285
Segment assets		6,947		32,082			39,029
Capital expenditures		568		--			568

Inter-segment sales were $0 for the fiscal year ended July 31, 2010.  Corporate assets include $188 of assets related to the discontinued operations of DMI and $25,354 of assets related to the discontinued operations of Villa.

MAJOR CUSTOMERS AND EXPORT SALES – For the fiscal year ended July 28, 2012, two of our customers accounted for 17% and 11% of our sales.  For the fiscal year ended July 30, 2011, one of our customers accounted for 23% of our sales.  For the fiscal year ended July 31, 2010, two of our customers accounted for 31% of our sales.

Foreign sales were 10%, 13% and 8% of the Company’s consolidated net sales in fiscal years ended July 28, 2012, July 30, 2011 and July 31, 2010, respectively. Net sales by geographic areas were:

	JULY 28, 2012				JULY 30, 2011				JULY 31, 2010
United States	$	10,291	90	%	$	9,357	87	%	$	11,500	92	%
Canada		85	1	%		81	1	%		50	0	%
Europe		374	3	%		666	6	%		306	3	%
Far East		392	3	%		635	6	%		548	4	%
Africa, Middle East and Australia		296	3	%		44	0	%		69	1	%
	$	11,438	100	%	$	10,783	100	%	$	12,473	100	%

Revenues are attributable to geographic areas based on the location of the customers.