Business Segment Data

9 Months Ended

Sep. 30, 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 for 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 nine months ended September 30, 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 and nine months ended September 30, 2023 and 2022 is as follows:

	Three months ended September 30				Nine months ended September 30
In thousands	2023		2022		2023		2022
Revenues:
Digital product sales	$	3,933	$	4,510	$	10,821	$	14,763
Digital product lease and maintenance		209		279		656		993
Total revenues	$	4,142	$	4,789	$	11,477	$	15,756
Operating (loss) income:
Digital product sales	$	(357)	$	(385)	$	(839)	$	375
Digital product lease and maintenance		98		148		330		538
Corporate general and administrative expenses		(403)		(346)		(1,352)		(1,178)
Total operating loss		(662)		(583)		(1,861)		(265)
Interest expense, net		(183)		(110)		(521)		(382)
Gain on foreign currency remeasurement		60		181		1		241
Gain on forgiveness of PPP loan		-		-		-		824
Pension (expense) benefit		(62)		53		(187)		158
(Loss) income before income taxes		(847)		(459)		(2,568)		576
Income tax expense		(7)		(7)		(19)		(19)
Net (loss) income	$	(854)	$	(466)	$	(2,587)	$	557

	September 30 2023		December 31 2022
Assets
Digital product sales	$	7,769	$	8,221
Digital product lease and maintenance		2,310		1,143
Total identifiable assets		10,079		9,364
General corporate		6		48
Total assets	$	10,085	$	9,412