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Note 11 - Business Segment and Geographic Financial Data
6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

11.     Business Segment and Geographic Financial Data

 

Business Segment Financial Data

We segregate our financial results into two reportable segments representing two broad technology segments as follows:

 

 

The Air Pollution Control technology segment includes technologies to reduce NOx emissions in flue gas generated by the firing of natural gas or coal from boilers, incinerators, furnaces, and other stationary combustion sources. These include Over-Fire Air systems, NOxOUT® and HERT™ Selective Non-Catalytic Reduction systems, and Selective Catalytic Reduction (SCR) systems. Our SCR systems can also include Ammonia Injection Grid, and Graduated Straightening Grid GSG™ systems to provide high NOx reductions at significantly lower capital and operating costs than conventional SCR systems. ULTRA® technology creates ammonia at a plant site using safe urea for use with any SCR application. Electrostatic Precipitator technologies make use of electrostatic precipitator products and services to reduce particulate matter. Flue Gas Conditioning systems are chemical injection systems offered in markets outside the U.S. and Canada to enhance electrostatic precipitator and fabric filter performance in controlling particulate emissions.

 

 

The FUEL CHEM® technology segment, which uses chemical processes in combination with advanced Computational Fluid Dynamics and Chemical Kinetics Modeling boiler modeling, for the control of slagging, fouling, corrosion, opacity and other sulfur trioxide-related issues in furnaces and boilers through the addition of chemicals into the furnace using TIFI® Targeted In-Furnace Injection™ technology.

 

The “Other” classification includes those profit and loss items not allocated to either reportable segment. There are no inter-segment sales that require elimination.

 

We evaluate performance and allocate resources based on reviewing gross margin by reportable segment. The accounting policies of the reportable segments are the same as those described in the summary of significant accounting policies (Note 1 in our annual report on Form 10-K). We do not review assets by reportable segment, but rather, in aggregate for the Company as a whole.

 

Information about reporting segment net sales and gross margin from operations are provided below:

 

  

Air Pollution

  

FUEL CHEM

         

Three months ended June 30, 2023

 

Control Segment

  

Segment

  

Other

  

Total

 

Revenues from external customers

 $3,422  $2,039  $  $5,461 

Cost of sales

  (2,347)  (1,118)     (3,465)

Gross margin

  1,075   921      1,996 

Selling, general and administrative

        (2,915)  (2,915)

Research and development

        (413)  (413)

Operating income (loss) from operations

 $1,075  $921  $(3,328) $(1,332)

 

  

Air Pollution

  

FUEL CHEM

         

Three months ended June 30, 2022

 

Control Segment

  

Segment

  

Other

  

Total

 

Revenues from external customers

 $2,738  $3,630  $  $6,368 

Cost of sales

  (1,802)  (1,888)     (3,690)

Gross margin

  936   1,742      2,678 

Selling, general and administrative

        (2,874)  (2,874)

Research and development

        (289)  (289)

Operating income (loss) from operations

 $936  $1,742  $(3,163) $(485)

 

  

Air Pollution

  

FUEL CHEM

         

Six months ended June 30, 2023

 

Control Segment

  

Segment

  

Other

  

Total

 

Revenues from external customers

 $6,981  $5,767  $  $12,748 

Cost of sales

  (4,941)  (3,006)     (7,947)

Gross margin

  2,040   2,761      4,801 

Selling, general and administrative

        (6,160)  (6,160)

Research and development

        (631)  (631)

Operating income (loss) from operations

 $2,040  $2,761  $(6,791) $(1,990)

 

  

Air Pollution

  

FUEL CHEM

         

Six months ended June 30, 2022

 

Control Segment

  

Segment

  

Other

  

Total

 

Revenues from external customers

 $4,942  $6,961  $  $11,903 

Cost of sales

  (3,231)  (3,704)     (6,935)

Gross margin

  1,711   3,257      4,968 

Selling, general and administrative

        (5,928)  (5,928)

Research and development

        (509)  (509)

Operating income (loss) from operations

 $1,711  $3,257  $(6,437) $(1,469)

 

Geographic Segment Financial Data

 

Information concerning our operations by geographic area is provided below. Revenues are attributed to countries based on the location of the end-user. Assets are those directly associated with operations of the geographic area.

 

  

Three Months Ended

  

Six Months Ended

 
  

June 30,

  

June 30,

 
  

2023

  

2022

  

2023

  

2022

 

Revenues:

                

United States

 $4,316  $4,279  $10,297  $7,967 

Foreign

  1,145   2,089   2,451   3,936 
  $5,461  $6,368  $12,748  $11,903 

 

  

June 30,

  

December 31,

 
  

2023

  

2022

 

Assets:

        

United States

 $46,191  $47,007 

Foreign

  3,418   3,117 
  $49,609  $50,124