Business Segments

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Business Segments

10. Business Segments

The Company operates in two business segments, ATG and 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.

As of September 30, 2017, the Company had identifiable assets of approximately $36,761,000 ($35,620,000 – December 31, 2016) of which approximately $25,477,000 ($24,037,000 – December 31, 2016) was for ATG and approximately $11,284,000 ($11,583,000 – December 31, 2016) was for CPG.

Information regarding the Company’s operations in these segments is summarized as follows:

	($000's omitted)
	ATG						CPG						Consolidated
	Nine Months Ended						Nine Months Ended						Nine Months Ended
	September 30,						September 30,						September 30,
	2017			2016			2017			2016			2017			2016
Revenues from unaffiliated customers	$	23,968		$	23,023		$	6,076		$	5,685		$	30,044		$	28,708
Cost of goods sold, exclusive of depreciation and amortization		(17,407	)		(16,060	)		(5,299	)		(4,828	)		(22,706	)		(20,888	)
Selling, general and administrative		(4,133	)		(3,477	)		(1,390	)		(1,338	)		(5,523	)		(4,815	)
Depreciation and amortization		(443	)		(412	)		(194	)		(198	)		(637	)		(610	)
Interest expense		(32	)		(32	)		(24	)		(22	)		(56	)		(54	)
Other income, net		9			19			2			-			11			19
Income (loss) before income tax provision (benefits)		1,962			3,061			(829	)		(701	)		1,133			2,360
Income tax provision (benefits)		580			949			(249	)		(217	)		331			732
Net income (loss)	$	1,382		$	2,112		$	(580	)	$	(484	)	$	802		$	1,628
Capital expenditures	$	1,777		$	613		$	124		$	173		$	1,901		$	786

	($000's omitted)
	ATG						CPG						Consolidated
	Three Months Ended						Three Months Ended						Three Months Ended
	September 30,						September 30,						September 30,
	2017			2016			2017			2016			2017			2016
Revenues from unaffiliated customers	$	8,918		$	7,658		$	2,407		$	1,807		$	11,325		$	9,465
Cost of goods sold, exclusive of depreciation and amortization		(6,062	)		(5,418	)		(1,974	)		(1,625	)		(8,036	)		(7,043	)
Selling, general and administrative		(1,640	)		(1,240	)		(440	)		(418	)		(2,080	)		(1,658	)
Depreciation and amortization		(143	)		(137	)		(66	)		(61	)		(209	)		(198	)
Interest expense		(9	)		(11	)		(9	)		(7	)		(18	)		(18	)
Other income, net		5			9			1			-			6			9
Income (loss) before income tax provision (benefits)		1,069			861			(81	)		(304	)		988			557
Income tax provision (benefits)		341			289			(24	)		(98	)		317			191
Net income (loss)	$	728		$	572		$	(57	)	$	(206	)	$	671		$	366
Capital expenditures	$	1,282		$	70		$	48		$	15		$	1,330		$	85