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Note 13 - Segments | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
13. | SEGMENTS
The Company operates in one industry with three reportable operating segments, which represent the Company's three product groups and a corporate segment. The segments consist of Connectivity Solutions, Power Solutions and Protection, Magnetic Solutions and a Corporate segment. The primary criteria by which financial performance is evaluated and resources are allocated are net sales and gross profit. The following is a summary of key financial data:
|  | Year Ended December 31, 2022 |
|  | Connectivity |  |  | Power Solutions |  |  | Magnetic |  |  | Corporate |  |  |  |  |
|  | Solutions |  |  | and Protection |  |  | Solutions |  |  | Segment |  |  | Total |
Net sales |  | $ | 187,085 |  |  | $ | 288,366 |  |  | $ | 178,782 |  |  | $ | - |  |  | $ | 654,233 |
Gross Profit |  |  | 48,488 |  |  |  | 87,840 |  |  |  | 49,290 |  |  |  | (2,165 | ) |  |  | 183,453 |
Gross Profit % |  |  | 25.9 | % |  |  | 30.5 | % |  |  | 27.6 | % |  |  | nm |  |  |  | 28.0 | %
Total Assets |  |  | 170,895 |  |  |  | 234,095 |  |  |  | 107,891 |  |  |  | 47,585 |  |  |  | 560,466 |
Capital Expenditures |  |  | 4,566 |  |  |  | 3,916 |  |  |  | 350 |  |  |  | - |  |  |  | 8,832 |
Depreciation and Amortization Expense |  |  | 6,145 |  |  |  | 6,470 |  |  |  | 2,133 |  |  |  | 115 |  |  |  | 14,863 |
|  | Year Ended December 31, 2021 |
|  | Connectivity |  |  | Power Solutions |  |  | Magnetic |  |  | Corporate |  |  |  |  |
|  | Solutions |  |  | and Protection |  |  | Solutions |  |  | Segment |  |  | Total |
Net sales |  | $ | 165,027 |  |  | $ | 218,035 |  |  | $ | 160,432 |  |  | $ | - |  |  | $ | 543,494 |
Gross Profit |  |  | 43,501 |  |  |  | 58,823 |  |  |  | 34,106 |  |  |  | (2,047 | ) |  |  | 134,383 |
Gross Profit % |  |  | 26.4 | % |  |  | 27.0 | % |  |  | 21.3 | % |  |  | nm |  |  |  | 24.7 | %
Total Assets |  |  | 147,813 |  |  |  | 206,719 |  |  |  | 104,845 |  |  |  | 52,469 |  |  |  | 511,846 |
Capital Expenditures |  |  | 1,768 |  |  |  | 4,718 |  |  |  | 2,911 |  |  |  | - |  |  |  | 9,397 |
Depreciation and Amortization Expense |  |  | 6,683 |  |  |  | 8,022 |  |  |  | 2,126 |  |  |  | 30 |  |  |  | 16,861 |
Entity-Wide Information The following is a summary of entity-wide information related to the Company's net sales to external customers by geographic area and by major product line.
|  | Year Ended December 31, |
|  | 2022 |  |  | 2021 |
Net Sales by Geographic Location: |  |  |  |  |  |  |  |
United States |  | $ | 409,199 |  |  | $ | 317,436 |
People's Republic of China |  |  | 77,061 |  |  |  | 83,263 |
Macao |  |  | 61,744 |  |  |  | 53,802 |
United Kingdom |  |  | 21,903 |  |  |  | 20,000 |
Slovakia |  |  | 22,120 |  |  |  | 19,407 |
Germany |  |  | 24,112 |  |  |  | 17,856 |
India |  |  | 17,608 |  |  |  | 12,430 |
Switzerland |  |  | 9,893 |  |  |  | 8,315 |
All other foreign countries |  |  | 10,593 |  |  |  | 10,985 |
Consolidated net sales |  | $ | 654,233 |  |  | $ | 543,494 |
Net Sales by Major Product Line: |  |  |  |  |  |  |  |
Connectivity solutions |  | $ | 187,085 |  |  | $ | 165,027 |
Magnetic solutions |  |  | 178,782 |  |  |  | 160,432 |
Power solutions and protection |  |  | 288,366 |  |  |  | 218,035 |
Consolidated net sales |  | $ | 654,233 |  |  | $ | 543,494 |
The following is a summary of long-lived assets by geographic area as of December 31, 2022 and 2021:
|  | December 31, |
|  | 2022 |  |  | 2021 |
Long-lived Assets by Geographic Location: |  |  |  |  |  |  |  |
United States |  | $ | 33,875 |  |  | $ | 30,438 |
People's Republic of China (PRC) |  |  | 28,222 |  |  |  | 29,904 |
Slovakia |  |  | 6,738 |  |  |  | 6,675 |
United Kingdom |  |  | 1,109 |  |  |  | 1,264 |
All other foreign countries |  |  | 1,072 |  |  |  | 1,190 |
Consolidated long-lived assets |  | $ | 71,016 |  |  | $ | 69,471 |
Long-lived assets consist of property, plant and equipment, net and other assets of the Company that are identified with the operations of each geographic area. The territory of Hong Kong became a Special Administrative Region ("SAR") of the PRC in the middle of 1997. The territory of Macao became a SAR of the PRC at the end of 1999. Management cannot presently predict what future impact this will have on the Company, if any, or how the political climate in the PRC will affect the Company's contractual arrangements in the PRC. A significant portion of the Company's manufacturing operations and approximately 35.2% of its identifiable assets are located in Asia. Net Sales to Major Customers The Company had net sales to one customer in excess of ten percent of consolidated net sales in 2022 and 2021. The net sales associated with this customer were $83.9 million (12.8% of sales) in 2022 and $57.8 million (10.6% of sales) in 2021. Net sales related to this significant customer were primarily reflected in the Magnetic Solutions operating segment.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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