Segment Information

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Information

L. Segment Information

The Company has two reportable business segments, electronic components and electronic instruments. The electronic components segment is focused on the design and manufacture of highly engineered, high reliability frequency and spectrum control products. These electronic components ensure reliability and security in aerospace and defense communications, low noise and base accuracy for laboratory instruments, and synchronous data transfers throughout the wireless and Internet infrastructure. The electronic instruments segment is focused on the design and manufacture of high performance Frequency and Time Reference Standards that form the basis for timing and synchronization in various applications. The following table sets forth activity broken down by reportable business segment (in thousands):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2020			2019			2020			2019
Revenues from Operations
Electronic components	$	7,860		$	8,218		$	22,905		$	22,011
Electronic instruments		211			370			843			1,047
Total consolidated revenues	$	8,071		$	8,588		$	23,748		$	23,058
Operating Income
Electronic components	$	1,064		$	1,493		$	2,249		$	3,147
Electronic instruments		(41	)		93			33			257
Unallocated corporate expense		(314	)		(464	)		(729	)		(992	)
Total operating income		709			1,122			1,553			2,412
Interest (expense) income, net		(3	)		—			(7	)		1
Loss on equity investment in unconsolidated subsidiary		(61	)		—			(200	)		—
Other income (expense), net		155			82			3			352
Total other income (expense)		91			82			(204	)		353
Income Before Income Taxes	$	800		$	1,204		$	1,349		$	2,765

Operating income is equal to revenues less cost of sales and operating expenses, excluding investment income, interest expense, and income taxes.