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Business Segments
 12 Months Ended
Dec. 31, 2020
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):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

($000's omitted except per share data)

 

 

 

ATG

 

CPG

 

Consolidated

 

 

 

Years Ended

 

Years Ended

 

Years Ended

 

 

 

December 31,

 

December 31,

 

December 31,

 

 

 

2020

 

2019

 

2020

 

2019

 

2020

 

2019

 

Revenues from unaffiliated customers

 

$

40,782

 

$

48,519

 

$

9,062

 

$

6,753

 

$

49,844

 

$

55,272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of goods sold, inclusive of depreciation

 

 

(33,440)

 

 

(35,632)

 

 

(8,164)

 

 

(7,514)

 

 

(41,604)

 

 

(43,146)

 

Gross margin (loss)

 

 

7,342

 

 

12,887

 

 

898

 

 

(761)

 

 

8,240

 

 

12,126

 

Gross margin %

 

 

18.0

%  

 

26.6

%  

 

9.9

%  

 

(11.3)

%  

 

16.5

%  

 

21.9

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, general and administrative

 

 

(6,245)

 

 

(6,158)

 

 

(1,753)

 

 

(2,725)

 

 

(7,998)

 

 

(8,883)

 

Interest

 

 

(170)

 

 

(97)

 

 

(10)

 

 

(28)

 

 

(180)

 

 

(125)

 

Total costs and expenses

 

 

(39,855)

 

 

(41,887)

 

 

(9,927)

 

 

(10,268)

 

 

(49,782)

 

 

(52,154)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income (loss) before income tax provision

 

 

927

 

 

6,633

 

 

(865)

 

 

(3,515)

 

 

62

 

 

3,118

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax provision (benefit)

 

 

492

 

 

1,428

 

 

(530)

 

 

(757)

 

 

(38)

 

 

671

 

Net income/(loss)

 

$

435

 

$

5,205

 

$

(335)

 

$

(2,758)

 

$

100

 

$

2,447

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

40,826

 

$

39,989

 

$

9,502

 

$

9,481

 

$

50,328

 

$

49,470

 

Capital expenditures

 

$

661

 

$

1,990

 

$

68

 

$

281

 

$

729

 

$

2,271