Segment Reporting

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Segment Reporting

Segment Reporting

The Company is reporting its financial performance based on its external reporting segments: Wireless Infrastructure Services and Telecommunications.  These reportable segments are described below.

Wireless Infrastructure Services (“Wireless”) The Company's Wireless segment provides turn-key wireless infrastructure services for the four major U.S. wireless carriers, communication tower companies, national integrators, and original equipment manufacturers that support these wireless carriers.  These services primarily consist of the installation and upgrade of technology on cell sites and the construction of new small cells for 5G.

Telecommunications (“Telco”) The Company’s Telco segment sells new and refurbished telecommunications networking equipment, including both central office and customer premise equipment, to its customer base of telecommunications providers, enterprise customers and resellers located primarily in North America. This segment also offers its customers repair and testing services for telecommunications networking equipment.

The Company evaluates performance and allocates its resources based on operating income. The accounting policies of its reportable segments are the same as those described in the summary of significant accounting policies. Segment assets consist primarily of cash and cash equivalents, accounts receivable, inventory, property and equipment, goodwill and intangible assets. The Company allocates its corporate general and administrative expenses to the reportable segments.

(in thousands)	Three Months Ended
	March 31, 2023		March 31, 2022
Sales
Wireless	$	6,572	$	7,766
Telco	8,148		15,993
Total sales	$	14,720	$	23,759
Gross profit
Wireless	$	1,344	$	1,537
Telco	2,073		4,221
Total gross profit	$	3,417	$	5,758
Income (loss) from operations
Wireless	$	(2,097)	$	(2,203)
Telco	(456)		1,038
Total income (loss) from operations	$	(2,553)	$	(1,165)

(in thousands)	March 31, 2023		December 31, 2022
Segment assets
Wireless	$	8,223	$	9,790
Telco	12,224		13,217
Non-allocated	3,562		4,211
Total assets	$	24,009	$	27,218