Segment Information

3 Months Ended

Mar. 31, 2021

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, manufacture and marketing 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. 

Business segment information follows (in thousands):

	Three Months Ended March 31,
	2021			2020
Revenues from Operations
Electronic components	$	6,254		$	8,276
Electronic instruments		282			342
Total consolidated revenues	$	6,536		$	8,618
Operating (Loss) Income
Electronic components	$	349		$	871
Electronic instruments		16			37
Unallocated corporate expense		(425	)		(248	)
Total operating (loss) income		(60	)		660
Interest expense, net		(3	)		—
Loss on equity investment in unconsolidated subsidiary		(76	)		(39	)
Other income (expense), net		172			(384	)
Total other income (expense)		93			(423	)
Income Before Income Taxes	$	33		$	237

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