NOTE F - SEGMENT INFORMATION

9 Months Ended

Jan. 31, 2016

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE F – SEGMENT INFORMATION

The Company operates under three reportable segments based on the geographic locations of its subsidiaries:

(1)   FEI-NY – operates out of New York and its operations consist principally of precision time and frequency control products used in three principal markets - communication satellites (both commercial and U.S. Government-funded); terrestrial cellular telephone or other ground-based telecommunication stations and other components and systems for the U.S. military.

(2)   Gillam-FEI – operates out of Belgium and France and primarily sells wireline synchronization and network management systems in non-U.S. markets.  All sales from Gillam-FEI to the United States are to other segments of the Company.

(3)   FEI-Zyfer – operates out of California and its products incorporate Global Positioning System (GPS) technologies into systems and subsystems for secure communications, both government and commercial, and other locator applications.  This segment also provides sales and support for the Company’s wireline telecommunications family of products, including US5G, which are sold in the United States market.

The FEI-NY segment also includes the operations of the Company’s wholly-owned subsidiaries, FEI-Elcom Tech (“FEI-Elcom”) and FEI-Asia.  FEI-Asia functions primarily as a manufacturing facility for the Company’s commercial product subsidiaries with historically minimal sales to outside customers.  Beginning in late fiscal year 2014, FEI-Asia began shipping higher volumes of product to third parties as a contract manufacturer.  FEI-Elcom, in addition to its own product line, provides design and technical support for the FEI-NY segment’s satellite business.

The Company’s chief executive officer (the chief operating decision maker) measures segment performance based on total revenues and profits generated by each geographic location rather than on the specific types of customers or end-users.  Consequently, the Company determined that the segments indicated above most appropriately reflect the way the Company’s management views the business.

The tables below present information about reported segments with reconciliation of segment amounts to consolidated amounts as reported in the statement of income or the balance sheet for each of the periods (in thousands):

	Nine months						Three months
	Periods ended January 31,
	2016			2015			2016			2015
Revenues:
FEI-NY	$	35,306		$	45,962		$	9,719		$	14,025
Gillam-FEI		3,862			6,511			1,577			1,963
FEI-Zyfer		7,979			7,110			2,482			2,930
less intersegment revenues		(965	)		(2,219	)		(280	)		(537	)
Consolidated revenues	$	46,182		$	57,364		$	13,498		$	18,381

Operating profit (loss):
FEI-NY	$	1,181		$	3,857		$	237		$	578
Gillam-FEI		(631	)		(707	)		(70	)		(194	)
FEI-Zyfer		1,088			850			256			691
Corporate		(377	)		(278	)		(151	)		(78	)
Consolidated operating profit	$	1,261		$	3,722		$	272		$	997

Identifiable assets:	January 31, 2016			April 30, 2015
FEI-NY (approximately $2.2 million in China)	$	61,452		$	63,541
Gillam-FEI (all in Belgium or France)		9,774			9,878
FEI-Zyfer		11,703			11,088
less intersegment balances		(6,120	)		(8,775	)
Corporate		43,039			42,093
Consolidated identifiable assets	$	119,848		$	117,825