Business Segment Data

3 Months Ended

Mar. 31, 2023

Business Segment Data [Line Items]

Segment Reporting Disclosure [Text Block]

Note 13 – Business Segment Data

Operating segments are based on the Company’s business components about which separate financial information is available and are evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and in assessing performance of the business.

The Company evaluates segment performance and allocates resources based upon operating income (loss). The Company’s operations are managed in two reportable business segments: Digital product sales and Digital product lease and maintenance.  Both design and produce large-scale, multi-color, real-time digital displays.  Both operating segments are conducted on a global basis, primarily through operations in the United States.  The Company also has operations in Canada.  The Digital product sales segment sells equipment and the Digital product lease and maintenance segment leases and maintains equipment.  Corporate general and administrative items relate to costs that are not directly identifiable with a segment.  There are no intersegment sales.

Foreign revenues represent less than 10% of the Company’s revenues in the three months ended March 31, 2023 and 2022.  The Company’s foreign operation does not manufacture its own equipment; the domestic operation provides the equipment that the foreign operation leases or sells.  The foreign operation operates similarly to the domestic operation and has similar profit margins.  Foreign assets are immaterial.

Information about the Company’s operations in its two business segments for the three months ended March 31, 2023 and 2022 is as follows:

	Three Months Ended March 31
In thousands	2023		2022
Revenues:
Digital product sales	$	4,121	$	3,237
Digital product lease and maintenance		228		428
Total revenues	$	4,349	$	3,665
Operating (loss) income:
Digital product sales	$	(301)	$	(71)
Digital product lease and maintenance		123		257
Corporate general and administrative expenses		(459)		(406)
Total operating loss		(637)		(220)
Interest expense, net		(144)		(142)
Loss on foreign currency remeasurement		(8)		(16)
Gain on forgiveness of PPP loan		-		824
Pension (expense) benefit		(63)		53
(Loss) income before income taxes		(852)		499
Income tax expense		(6)		(6)
Net (loss) income	$	(858)	$	493

	March 31 2023		December 31 2022
Assets
Digital product sales	$	7,784	$	8,221
Digital product lease and maintenance		1,005		1,143
Total identifiable assets		8,789		9,364
General corporate		50		48
Total assets	$	8,839	$	9,412