Segment Information

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Segment Information

L. Segment Information

Prior to the Spin-Off and as of September 30, 2022, the Company has two reportable business segments; electronic components (MtronPTI), and electronic instruments (PTF). 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 September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021
Revenues
Electronic components	$	8,417		$	7,173		$	23,172		$	19,834
Electronic instruments		344			328			1,131			1,085
Total consolidated revenues	$	8,761		$	7,501		$	24,303		$	20,919
Operating Income (Loss)
Electronic components	$	756		$	854		$	2,521		$	2,037
Electronic instruments		(39	)		32			(53	)		150
Unallocated corporate expense		(596	)		(1,632	)		(2,002	)		(2,377	)
Total operating income (loss)		121			(746	)		466			(190	)
Interest income (expense), net		51			(3	)		51			(9	)
Gain on equity investment in unconsolidated subsidiary		—			60,205			—			59,453
Investment loss		(2,121	)		(18,867	)		(4,449	)		(18,665	)
Other (expense) income, net		(13	)		240			(37	)		280
Total other (expense) income, net		(2,083	)		41,575			(4,435	)		41,059
(Loss) Income Before Income Taxes	$	(1,962	)	$	40,829		$	(3,969	)	$	40,869

Operating income is equal to revenues less cost of sales and operating expenses (engineering, selling and administrative expenses).