SEGMENT INFORMATION

12 Months Ended

Sep. 30, 2016

SEGMENT INFORMATION [Abstract]

SEGMENT INFORMATION

(11) SEGMENT INFORMATION

The Company has three reportable segments: electronic controls, capacitors and battery chargers. The electronic controls segment produces microprocessor based control systems for zero emission and hybrid electric vehicles. The capacitor segment produces special-metalized film capacitors for sale to electronic equipment manufacturers.  The battery chargers segment designs and manufactures battery chargers for electric vehicles. Each segment has its own management team and sales force and the capacitor and battery charger segments have their own manufacturing facilities.

The significant accounting policies of the segments are the same as those described in Note 1. Inter-segment revenues are accounted for at current market prices. The Company evaluates the performance of each segment principally based on operating income. The Company does not allocate corporate expense, acquisition costs, income taxes, interest income and expense or foreign currency translation gains and losses to segments. Information concerning operations of these businesses is as follows:

	(in thousands of dollars)
	2016
	Controls		Capacitors		Chargers			Corporate			Total
Sales to external customers		34,907		1,526		13,368			-			49,801
Operating income (loss)		835		74		(585	)		(5,658	)		(5,334	)
Identifiable assets, excluding goodwill		40,880		894		9,231			10,174			61,179
Goodwill		1,435		-		6,359			-			7,794

	2015
	Controls		Capacitors		Chargers		Corporate			Total
Sales to external customers		39,029		2,113		-		-			41,142
Inter-segment revenues		-		3		-		-			3
Operating income (loss)		4,589		271		-		(2,966	)		1,894
Identifiable assets, excluding goodwill		25,702		1,176		-		7,303			34,181
Goodwill		1,435		-		-		-			1,435

The Company has businesses located in the United States, the United Kingdom, Italy, France, Korea, Japan and China. The analysis of revenues set out below is by the location of the business selling the products rather than by destination of the products.

(in thousands of dollars)
	2016		2015
Sales:-
U.S. sales	$	16,078	$	18,327
Foreign sales:
United Kingdom		11,367		15,056
Italy		13,368		-
France		7,534		7,054
China		1,454		705
Total foreign sales		33,723		22,815
Total Sales	$	49,801	$	41,142
Long-lived assets:
U.S.A.	$	2,224	$	2,205
Foreign:
United Kingdom		5,891		4,908
Italy		16,580		-
France		302		298
Korea, Japan and China		388		324
Total Foreign		23,161		5,530
Total	$	25,385	$	7,735

In the electronic controls segment, revenues are derived from the following products and services:

(in thousands of dollars)
	Twelve Months ended
	September 30, 2016		September 30, 2015
Electronic controls for zero emission and hybrid electric vehicles	$	23,945		26,951
Accessory and aftermarket products and services		10,962		12,078
Total controls segment revenues	$	34,907		39,029