XML 27 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
NOTE F - SEGMENT INFORMATION
 6 Months Ended
Oct. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block]
NOTE F – SEGMENT INFORMATION

The Company operates under three reportable segments based on the geographic locations of its subsidiaries:

(1)  
FEI-NY – operates out of New York and its operations consist principally of precision time and frequency control products used in three principal markets- communication satellites (both commercial and U.S. Government-funded); terrestrial cellular telephone or other ground-based telecommunication stations and other components and systems for the U.S. military.

(2)  
Gillam-FEI - operates out of Belgium and France and primarily sells wireline synchronization and network management systems in non-U.S. markets.  All sales from Gillam-FEI to the United States are to other segments of the Company.

(3)  
FEI-Zyfer – operates out of California and its products incorporate Global Positioning System (GPS) technologies into systems and subsystems for secure communications, both government and commercial, and other locator applications.  This segment also provides sales and support for the Company’s wireline telecommunications family of products, including US5G, which are sold in the United States market.

The FEI-NY segment also includes the operations of the Company’s wholly-owned subsidiaries, FEI-Elcom Tech (“FEI-Elcom”) and FEI-Asia.  FEI-Asia functions primarily as a manufacturing facility for the Company’s commercial product subsidiaries with minimal sales to outside customers.  FEI-Elcom, in addition to its own product line, provides design and technical support for the FEI-NY segment’s satellite business.

The Company’s chief executive officer measures segment performance based on total revenues and profits generated by each geographic location rather than on the specific types of customers or end- users.  Consequently, the Company determined that the segments indicated above most appropriately reflect the way the Company’s management views the business.

The tables below present information about reported segments with reconciliation of segment amounts to consolidated amounts as reported in the statement of income or the balance sheet for each of the periods (in thousands):

   
Six months
   
Three months
 
   
Periods ended October 31,
 
   
2013
   
2012
   
2013
   
2012
 
Revenues:
                       
FEI-NY
  $ 26,039     $ 24,135     $ 12,865     $ 12,287  
Gillam-FEI
    4,568       4,518       1,873       2,610  
FEI-Zyfer
    4,352       6,688       2,363       3,331  
less intersegment revenues
    (1,125 )     (1,087 )     (94 )     (659 )
Consolidated revenues
  $ 33,834     $ 34,254     $ 17,007     $ 17,569  

   
Six months
   
Three months
 
   
Periods ended October 31,
 
      2013       2012       2013       2012  
Operating profit (loss):
                               
FEI-NY
  $ 2,740     $ 2,973     $ 1,564     $ 1,851  
Gillam-FEI
    (36 )     24       (92 )     140  
FEI-Zyfer
    (275 )     297       (76 )     157  
Corporate
    (202 )     (195 )     (132 )     (130 )
Consolidated operating profit
  $ 2,227     $ 3,099     $ 1,264     $ 2,018  

   
October 31, 2013
   
April 30, 2013
 
Identifiable assets:
           
FEI-NY (approximately $3 million in China)
  $ 58,972     $ 55,508  
Gillam-FEI (all in Belgium or France)
    18,874       18,071  
FEI-Zyfer
    10,934       10,418  
less intersegment balances
    (19,016 )     (18,903 )
Corporate
    44,244       43,815  
Consolidated identifiable assets
  $ 114,008     $ 108,909