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Segment Information | 12 Months Ended
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Apr. 30, 2020
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | 14. Segment Information The Company operates under two 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. The FEI-NY segment also includes the operations of the Company’s wholly-owned subsidiary, FEI-Elcom. FEI-Elcom, in addition to its own product line, provides design and technical support for the FEI-NY segment’s satellite business.
(2) | 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 U.S. market.
The Company 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 accounting policies of the two segments are the same as those described in Note 1. The Company evaluates the performance of its segments and allocates resources to them based on operating profit which is defined as income before investment income, interest expense and taxes. All acquired assets, including intangible assets, are included in the assets of both reporting segments. The table below presents information about reported segments for each of the years ended April 30, 2020 and 2019, respectively, with reconciliation of segment amounts to consolidated amounts as reported in the consolidated statements of operations or the consolidated balance sheets for each of the years (in thousands):
|  | 2020 |  |  | 2019 |
Net revenues: |  |  |  |  |  |  |  |
FEI-NY |  | $ | 31,751 |  |  | $ | 38,096 |
FEI-Zyfer |  |  | 10,914 |  |  |  | 12,235 |
Less intersegment revenues |  |  | (1,158 | ) |  |  | (822 | )
Consolidated revenues |  | $ | 41,507 |  |  | $ | 49,509 |
Operating loss: |  |  |  |  |  |  |  |
FEI-NY |  | $ | (9,910 | ) |  | $ | (4,429 | )
FEI-Zyfer |  |  | (673 | ) |  |  | 1,730 |
Corporate |  |  | (339 | ) |  |  | (118 | )
Consolidated operating loss |  | $ | (10,922 | ) |  | $ | (2,817 | )
|  | 2020 |  |  | 2019 |
Identifiable assets: |  |  |  |  |  |  |  |
FEI-NY (approximately $1.5 in China in 2019) |  | $ | 44,599 |  |  | $ | 54,295 |
FEI-Zyfer |  |  | 13,344 |  |  |  | 10,478 |
less intersegment receivables |  |  | (8,586 | ) |  |  | (8,346 | )
Corporate |  |  | 41,919 |  |  |  | 30,344 |
Consolidated identifiable assets |  | $ | 91,276 |  |  | $ | 86,771 |
Depreciation and amortization (allocated): |  |  |  |  |  |  |  |
FEI-NY |  | $ | 3,192 |  |  | $ | 2,695 |
FEI-Zyfer |  |  | 112 |  |  |  | 92 |
Corporate |  |  | 15 |  |  |  | 15 |
Consolidated depreciation and amortization expense |  | $ | 3,319 |  |  | $ | 2,802 |
Major Customers The Company’s products are sold to both commercial and governmental customers. For the years ended April 30, 2020 and 2019, approximately 83% and 87%, respectively, of the Company’s sales were made under contracts to the U.S. Government or subcontracts for U.S. Government end-use. In Fiscal 2020 and 2019, revenues to four and two customers, respectively, of the FEI-NY segment accounted for more than 10% of that segment’s revenues. These customers also exceeded 10% of the Company’s consolidated revenues each year. In the FEI-Zyfer segment, two customers accounted for more than 10% of that segment’s revenues in Fiscal 2020. The loss by the Company of any one of these customers would have a material adverse effect on the Company’s business. The Company believes its relationship with these customers is mutually satisfactory. Sales to the major customers referenced above can include commercial and governmental end users. Foreign Sales Revenues in each of the Company’s segments include sales to foreign governments or to companies located in foreign countries. For the years ended April 30, 2020 and 2019, revenues, based on the location of the procurement entity and excluding intersegment sales, were derived from the following countries (in thousands):
|  | 2020 |  |  | 2019 |
Belgium |  | $ | 22 |  |  | $ | 49 |
France |  |  | - |  |  |  | 40 |
China |  |  | 713 |  |  |  | 359 |
Russia |  |  | 85 |  |  |  | 2 |
Germany |  |  | 13 |  |  |  | 36 |
Italy |  |  | 169 |  |  |  | 159 |
Israel |  |  | 240 |  |  |  | - |
Singapore |  |  | 82 |  |  |  | 215 |
Other |  |  | 441 |  |  |  | 501 |
|  | $ | 1,765 |  |  | $ | 1,361 |

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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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&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 http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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