Note 12 - Segment and Related Information

12 Months Ended

Sep. 30, 2015

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12. SEGMENT AND RELATED INFORMATION

 

The Company's four business units have a common management team and infrastructure. The indicators and gauges unit has different technologies and customers than the other business units. Therefore, the business units have been aggregated into two reportable segments: 1.) indicators and gauges and 2.) automotive related diagnostic tools and equipment. The Company's management evaluates segment performance based primarily on operating earnings before taxes. Non-operating items such as interest income and interest expense are included in general corporate expenses. Depreciation expense on assets used in manufacturing are considered part of each segment's operating performance. Depreciation expense on non-manufacturing assets is included in general corporate expenses.

Indicators and Gauges:

This segment consists of products manufactured and sold primarily to companies in the aircraft and locomotive industry. Within the aircraft market, the primary customers are those companies that manufacture or service business and pleasure aircraft. Within the locomotive market, indicators and gauges are sold to both original equipment manufacturers and to operators of railroad equipment.

Automotive Diagnostic Tools and Equipment:

This segment consists primarily of products designed and manufactured to support the testing or servicing of automotive systems using electronic means to measure vehicle parameters. These products are sold to OEMs and to the aftermarket using several brand names and a variety of distribution methods. Included in this segment are products used for state required testing of vehicle emissions.

Information by industry segment is set forth below:

 

Years Ended September 30,	2015			2014			2013
Net Sales
Indicators and Gauges	$	1,298,901		$	1,492,348		$	1,657,725
Automotive Diagnostic Tools and Equipment		4,554,023			4,813,488			4,808,447
	$	5,852,924		$	6,305,836		$	6,466,172
Income (Loss) Before Provision for Income Taxes
Indicators and Gauges	$	260,296		$	312,692		$	433,361
Automotive Diagnostic Tools and Equipment		679,720			704,427			834,630
General Corporate Expenses		(1,062,393	)		(1,008,743	)		(1,129,186	)
	$	(122,377	)	$	8,376		$	138,805

Asset Information :

 

Years Ended September 30,	2015		2014
Identifiable Assets
Indicators and Gauges	$	729,520	$	685,198
Automotive Diagnostic Tools and Equipment		2,292,737		2,199,779
Corporate		844,318		814,680
	$	3,866,575	$	3,699,657

Geographical Information :

Included in the consolidated financial statements are the following amounts related to geographic locations:

Years Ended September 30,	2015		2014		2013
Revenue:
United States of America	$	5,678,888	$	6,149,883	$	6,317,722
Australia		20,043		64,744		23,481
Canada		75,612		58,983		77,239
England		21,822		6,938		5,244
Mexico		26,902		25,288		16,640
Taiwan		29,657		-		25,846
	$	5,852,924	$	6,305,836	$	6,466,172

All export sales to Australia, Canada, England, Mexico, Taiwan and other foreign countries are made in United States of America Dollars.