Business Segments

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

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
	Twelve Months Ended						Twelve Months Ended						Twelve Months Ended
	December 31,						December 31,						December 31,
	2017			2016			2017			2016			2017			2016
Revenues from unaffiliated customers	$	32,414		$	31,059		$	9,030		$	7,528		$	41,444		$	38,587
Cost of goods sold, exclusive of depreciation and amortization		(23,094	)		(21,919	)		(7,516	)		(6,645	)		(30,610	)		(28,564	)
Selling, general and administrative		(5,965	)		(4,808	)		(1,842	)		(1,860	)		(7,807	)		(6,668	)
Depreciation and amortization		(623	)		(559	)		(262	)		(264	)		(885	)		(823	)
Interest expense		(45	)		(43	)		(32	)		(30	)		(77	)		(73	)
Other income, net		7			11			3			-			10			11
Income (loss) before income tax provision (benefits)		2,694			3,741			(619	)		(1,271	)		2,075			2,470
Income tax provision (benefits)		984			1,086			(226	)		(369	)		758			717
Net income (loss)	$	1,710		$	2,655		$	(393	)	$	(902	)	$	1,317		$	1,753
Total assets	$	26,331		$	24,037		$	11,655		$	11,583		$	37,986		$	35,620
Capital expenditures	$	1,998		$	772		$	178		$	219		$	2,176		$	991