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Note 16 - Segment Information | 6 Months Ended
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Jun. 30, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
(16) | SEGMENT INFORMATION
During the year ended December 31, 2021, we managed our business as two operating segments which were also our reportable segments and reporting units: Thermal and EMS. As previously discussed in Note 1, effective January 1, 2022, we reorganized our segments to better align with our plan to manage and report our business going forward. This change in our operating and reporting structure reflects the evolution of our business, particularly as a result of the broadening of our product portfolio through the acquisitions we completed in the fourth quarter of 2021, which are discussed more fully in Note 3. Accordingly, for 2022, we have three operating segments which are also our reportable segments and reporting units: Electronic Test (which includes our semiconductor test equipment, flying probe and in-circuit testers), Environmental Technologies (which includes our thermal test, process and storage products) and Process Technologies (which includes our induction heating and video imaging products). Prior period information has been reclassified to be comparable to the current period’s presentation. Our management team, including our CEO who is also our Chief Operating Decision Maker as defined under U.S. GAAP, evaluates the performance of our operating segments primarily on income from divisional operations which represents earnings before income tax expense and excludes other income (expense), corporate expenses and acquired intangible amortization.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electronic Test |  | $ | 9,797 |  |  | $ | 9,054 |  |  | $ | 18,575 |  |  | $ | 17,555 |
Environmental Technologies |  |  | 7,507 |  |  |  | 6,647 |  |  |  | 14,500 |  |  |  | 12,845 |
Process Technologies |  |  | 12,267 |  |  |  | 6,119 |  |  |  | 20,577 |  |  |  | 10,976 |
Total revenue |  | $ | 29,571 |  |  | $ | 21,820 |  |  | $ | 53,652 |  |  | $ | 41,376 |
Income from divisional operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Electronic Test |  | $ | 2,193 |  |  | $ | 3,237 |  |  | $ | 4,080 |  |  | $ | 6,224 |
Environmental Technologies |  |  | 1,070 |  |  |  | 1,113 |  |  |  | 1,872 |  |  |  | 2,036 |
Process Technologies |  |  | 2,569 |  |  |  | 1,161 |  |  |  | 3,299 |  |  |  | 1,617 |
Total income from divisional operations |  |  | 5,832 |  |  |  | 5,511 |  |  |  | 9,251 |  |  |  | 9,877 |
Corporate expenses |  |  | (2,339 | ) |  |  | (2,171 | ) |  |  | (4,174 | ) |  |  | (3,653 | )
Acquired intangible amortization |  |  | (765 | ) |  |  | (305 | ) |  |  | (1,547 | ) |  |  | (609 | )
Other income (expense) |  |  | (158 | ) |  |  | 21 |  |  |  | (305 | ) |  |  | 19 |
Earnings before income tax expense |  | $ | 2,570 |  |  | $ | 3,056 |  |  | $ | 3,225 |  |  | $ | 5,634 |
|  | June 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Identifiable assets: |  |  |  |  |  |  |  |
Electronic Test |  | $ | 28,735 |  |  | $ | 26,251 |
Environmental Technologies |  |  | 16,900 |  |  |  | 15,411 |
Process Technologies |  |  | 54,300 |  |  |  | 52,120 |
Corporate |  |  | 6,090 |  |  |  | 10,123 |
|  | $ | 106,025 |  |  | $ | 103,905 |
The following table provides information about our geographic areas of operation. Revenue is based on the location to which the goods are shipped.
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. |  | $ | 14,068 |  |  | $ | 6,632 |  |  | $ | 23,302 |  |  | $ | 12,379 |
Foreign |  |  | 15,503 |  |  |  | 15,188 |  |  |  | 30,350 |  |  |  | 28,997 |
|  | $ | 29,571 |  |  | $ | 21,820 |  |  | $ | 53,652 |  |  | $ | 41,376 |
|  | June 30, |  |  | December 31, |
|  | 2022 |  |  | 2021 |
Property and equipment: |  |  |  |  |  |  |  |
U.S. |  | $ | 2,566 |  |  | $ | 2,346 |
Foreign |  |  | 392 |  |  |  | 342 |
|  | $ | 2,958 |  |  | $ | 2,688 |

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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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