XML 19 R8.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Note 3 - Segment Reporting Information | 3 Months Ended
--- | ---
Sep. 30, 2017
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | NOTE 3 - SEGMENT REPORTING INFORMATION The accounting guidance on Segment Reporting establishes standards for reporting information regarding operating segments in annual financial statements and requires selected information of those segments to be presented in financial statements. Operating segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the chief operating decision maker (the Company’s Chief Executive Officer or “CODM”) in making decisions on how to allocate resources and assess performance. In the first quarter of fiscal 2018, the Company merged its Technology Segment with the Lighting Segment to be in alignment with the financial information received by the Chief Executive Officer and how the business is managed. The Company’s two operating segments are Lighting and Graphics, each of which has a president who is responsible for that business and reports to the CODM. Corporate and Eliminations, which captures the Company’s corporate administrative activities, is also reported in the segment information. The Lighting Segment includes outdoor and indoor lighting utilizing both traditional and LED light sources that have been fabricated and assembled for the commercial /industrial market, the petroleum / convenience store market, the automotive dealership market, the quick service restaurant market, along with other markets the Company serves. The Lighting Segment also includes the design, engineering, and manufacturing of electronic circuit boards, assemblies and sub-assemblies used to manufacture certain LED light fixtures and sold directly to customers. The Graphics Segment designs, manufactures and installs exterior and interior visual image elements such as traditional graphics, interior branding, electrical and architectural signage, active digital signage along with the management of media content related to digital signage, LED video screens, and menu board systems that are either digital or traditional by design. These products are used in visual image programs in several markets including, but not limited to the petroleum / convenience store market, multi-site retail operations, banking, and restaurants. The Graphics Segment implements, installs and provides program management services related to products sold by the Graphics Segment and by the Lighting Segment. The Company ’s corporate administration activities are reported in the Corporate and Eliminations line item. These activities primarily include intercompany profit in inventory eliminations, expense related to certain corporate officers and support staff, the Company’s internal audit staff, expense related to the Company’s Board of Directors, stock option expense for options granted to corporate administration employees, certain consulting expenses, investor relations activities, and a portion of the Company’s legal, auditing and professional fee expenses. Corporate identifiable assets primarily consist of cash, invested cash (if any), refundable income taxes (if any), and deferred income taxes. There was no concentration of consolidated net sales in the three months ended September 30, 201 7 or 2016. There was no concentration of accounts receivable at September 30, 2017 or June 30, 2017. Summarized financial information for the Company ’s operating segments is provided for the indicated periods and as of September 30, 2017 and September 30, 2016:
|  | Three Months Ended |
( In thousands) |  | September 30 |
|  | 201 7 |  |  | 201 6 |
Net Sales: |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 68,428 |  |  | $ | 65,265 |
Graphics Segment |  |  | 19,038 |  |  |  | 18,894 |
|  | $ | 87,466 |  |  | $ | 84,159 |
Operating Income (Loss): |  |  |  |  |  |  |  |
Lighting Segment |  | $ | (22,930 | ) |  | $ | 3,091 |
Graphics Segment |  |  | 1,476 |  |  |  | 1,017 |
Corporate and Eliminations |  |  | (3,360 | ) |  |  | (3,042 | )
|  | $ | (24,814 | ) |  | $ | 1,066 |
Capital Expenditures: |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 261 |  |  | $ | 1,096 |
Graphics Segment |  |  | 182 |  |  |  | 366 |
Corporate and Eliminations |  |  | 55 |  |  |  | 498 |
|  | $ | 498 |  |  | $ | 1,960 |
Depreciation and Amortization: |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 1,901 |  |  | $ | 1,192 |
Graphics Segment |  |  | 379 |  |  |  | 360 |
Corporate and Eliminations |  |  | 292 |  |  |  | 283 |
|  | $ | 2,572 |  |  | $ | 1,835 |
|  | September 30, 201 7 |  |  | June 30, 201 7 |
Identifiable Assets: |  |  |  |  |  |  |  |
Lighting Segment |  | $ | 182,796 |  |  | $ | 214,070 |
Graphics Segment |  |  | 35,315 |  |  |  | 33,144 |
Corporate and Eliminations |  |  | 21,078 |  |  |  | 9,466 |
|  | $ | 239,189 |  |  | $ | 256,680 |
The segment net sales reported above represent sales to external customers. Segment operating income, which is used in management’s evaluation of segment performance, represents net sales less all operating expenses. Identifiable assets are those assets used by each segment in its operations. Corporate identifiable assets primarily consist of cash, invested cash (if any), refundable income taxes (if any), and deferred income tax assets. The Company records a 10% mark-up on intersegment revenues. Any intersegment profit in inventory is eliminated in consolidation. Intersegment revenues were eliminated in consolidation as follows:
|  | Three Months Ended |
|  | September 30 |
(In thousands) |  | 201 7 |  |  | 201 6 |
Lighting Segment inter-segment net sales |  | $ | 715 |  |  | $ | 753 |
Graphics Segment inter-segment net sales |  | $ | 31 |  |  | $ | 132 |
The Company ’s operations are located solely within the United States. As a result, the geographic distribution of the Company’s net sales and long-lived assets originate within the United States.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration