Note 17 - Segment Information

3 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

1

7

.

SEGMENT INFORMATION

The Company is engaged in the design, development and commercialization of directed and multidirectional sound technologies, voice broadcast products and location-based mass messaging solutions for emergency warning and workforce management. The Company operates in

two

business segments: Hardware (LRAD) and Software (Genasys) and its principle markets are North and South America, Europe, Middle East and Asia. As reviewed by the Company’s chief operating decision maker, the Company evaluates the performance of each segment based on sales and operating income. Cash and cash equivalents, marketable securities, accounts receivable, inventory, property and equipment, deferred tax assets, goodwill and intangible assets are primary assets identified by segment. The accounting policies for segment reporting are the same for the Company as a whole and transactions between the

two

operating segments are

not

material.

The following table presents the Company’s segment disclosures:

	Three months ended December 31,
	2018			2017
Revenue from external customers
LRAD	$	9,656,702		$	7,628,567
Genasys		520,857			-
	$	10,177,559		$	7,628,567
Intercompany revenues
LRAD	$	-		$	-
Genasys		186,972			-
	$	186,972		$	-
Segment operating income (loss)
LRAD	$	1,302,646		$	991,105
Genasys		(12,771	)		-
	$	1,289,875		$	991,105
Other expenses:
Depreciation and amortization expense
LRAD	$	124,301		$	60,105
Genasys		76,966			-
	$	201,267		$	60,105
Income tax expense
LRAD	$	283,003		$	2,708,888
Genasys		-			-
	$	283,003		$	2,708,888

	December 30, 2018		September 30, 2018
Long-lived assets
LRAD	$	2,386,399	$	2,478,144
Genasys		3,848,773		3,973,917
	$	6,235,172	$	6,452,061
Total assets
LRAD	$	35,522,540	$	36,770,872
Genasys		4,826,682		5,089,925
	$	40,349,222	$	41,860,797