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Business Segments
 12 Months Ended
Dec. 31, 2019
Business Segments  
Business Segments

11.  Business Segments

The Company operates in two business segments, Advanced Technology Group (“ATG”) and Consumer Products Group (“CPG”). The Company’s reportable segments are strategic business units that offer different products and services. The segments are composed of separate corporations and are managed separately. Operations in ATG primarily involve the design, manufacture, and marketing of servo-control components (i.e., torque motors, control valves, actuators, etc.) for government, commercial and industrial applications. CPG’s operations involve the design, manufacture and marketing of a variety of cutlery products for use by consumers and government agencies. The Company derives its primary sales revenue from domestic customers, although a portion of finished products are for foreign end use.

Information regarding the Company’s operations in these segments is summarized as follows ($000’s omitted):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

ATG

    

CPG

    

Consolidated

 

 

 

Years Ended

 

Years Ended

 

Years Ended

 

 

 

December 31,

 

December 31,

 

December 31,

 

 

 

2019

 

2018

 

2019

 

2018

 

2019

 

2018

 

Revenues from unaffiliated customers

 

$

48,519

 

$

40,415

 

$

6,753

 

$

7,442

 

$

55,272

 

$

47,857

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold, inclusive of depreciation

 

 

(35,632)

 

 

(28,587)

 

 

(7,514)

 

 

(7,185)

 

 

(43,146)

 

$

(35,772)

 

Gross margin

 

 

12,887

 

 

11,828

 

 

(761)

 

 

258

 

 

12,126

 

 

12,085

 

Gross margin %

 

 

26.6

%  

 

29.3

%  

 

(11.3)

%  

 

3.5

%  

 

21.9

%  

 

25.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

(6,588)

 

 

(5,423)

 

 

(2,725)

 

 

(2,320)

 

 

(9,313)

 

 

(7,743)

 

Interest

 

 

(97)

 

 

(73)

 

 

(28)

 

 

(34)

 

 

(125)

 

 

(107)

 

Total costs and expenses

 

 

(42,317)

 

 

(34,083)

 

 

(10,268)

 

 

(9,539)

 

 

(52,584)

 

 

(43,622)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income tax provision

 

 

6,203

 

 

6,332

 

 

(3,515)

 

 

(2,097)

 

 

2,688

 

 

4,235

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax provision (benefits)

 

 

1,336

 

 

1,102

 

 

(757)

 

 

(365)

 

 

579

 

 

737

 

Net income/(loss)

 

$

4,867

 

$

5,230

 

$

(2,758)

 

$

(1,732)

 

$

2,109

 

$

3,498

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

39,989

 

$

31,647

 

$

9,481

 

$

10,038

 

$

49,470

 

$

41,685

 

Capital expenditures

 

$

1,990

 

$

1,689

 

$

281

 

$

177

 

$

2,271

 

$

1,866