Note 14 - Segments

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

14.  SEGMENTS 

The Company operates in one industry with three reportable operating segments, which represent the Company's three product groups, consisting of Power Solutions and Protection, Connectivity Solutions and Magnetic Solutions. The primary criteria by which financial performance is evaluated and resources are allocated are net sales and gross profit.  The following is a summary of key financial data:

	Year Ended December 31, 2023
	Power Solutions and Protection			Connectivity Solutions			Magnetic Solutions			Corporate/ Other				Total
Net sales	$	314,105		$	210,572		$	115,136		$	-		$	639,813
Gross Profit		119,741			72,031			25,314			(1,237	)		215,849
Gross Profit %		38.1	%		34.2	%		22.0	%		nm			33.7	%
Total Assets		222,068			197,045			47,900			104,618			571,631
Capital Expenditures		4,563			7,384			160			19			12,126
Depreciation and Amortization Expense		5,280			6,152			1,094			786			13,312

	Year Ended December 31, 2022
	Power Solutions and Protection			Connectivity Solutions			Magnetic Solutions			Corporate/ Other				Total
Net sales	$	288,366		$	187,085		$	178,782		$	-		$	654,233
Gross Profit		87,840			48,488			49,290			(2,165	)		183,453
Gross Profit %		30.5	%		25.9	%		27.6	%		nm			28.0	%
Total Assets		234,095			170,895			107,891			47,585			560,466
Capital Expenditures		3,916			4,566			350			-			8,832
Depreciation and Amortization Expense		6,470			6,145			2,133			115			14,863

Entity-Wide Information

The following is a summary of entity-wide information related to the Company's net sales to external customers by geographic area and by major product line.

	Years Ended December 31,
	2023		2022
Net Sales by Geographic Location:
United States	$	447,793	$	409,199
People's Republic of China		43,109		77,061
Macao		35,026		61,744
United Kingdom		25,648		21,903
Slovakia		35,555		22,120
Germany		17,327		24,112
India		15,365		17,608
Switzerland		11,237		9,893
All other foreign countries		8,753		10,593
Consolidated net sales	$	639,813	$	654,233
Net Sales by Major Product Line:
Power solutions and protection	$	314,105	$	288,366
Connectivity solutions		210,572		187,085
Magnetic solutions		115,136		178,782
Consolidated net sales	$	639,813	$	654,233

The following is a summary of long-lived assets by geographic area as of December 31, 2023 and 2022:

	December 31,
	2023		2022
Long-lived Assets by Geographic Location:
United States	$	34,990	$	33,875
People's Republic of China (PRC)		23,621		28,222
Slovakia		7,468		6,738
United Kingdom		3,024		1,109
All other foreign countries		549		1,072
Consolidated long-lived assets	$	69,652	$	71,016

Long-lived assets consist of property, plant and equipment, net and other assets of the Company that are identified with the operations of each geographic area.

The territory of Hong Kong became a Special Administrative Region ("SAR") of the PRC in the middle of 1997. The territory of Macao became a SAR of the PRC at the end of 1999. Management cannot presently predict what future impact this will have on the Company, if any, or how the political climate in the PRC will affect the Company's contractual arrangements in the PRC. A significant portion of the Company's manufacturing operations and approximately 21.6% of its identifiable assets are located in Asia.

Net Sales to Major Customers

The Company had no direct customers whose net sales represented in excess of ten percent of the Company's consolidated net sales in 2023. In 2022, the Company had one direct customer with net sales of $83.9 million (12.8% of sales). Net sales related to this significant customer were primarily reflected in the Magnetic Solutions operating segment.