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Segment Information
 6 Months Ended
Apr. 30, 2013
Segment Reporting [Abstract]  
Segment Information

Note 7 - Segment information

 

The Company aggregates operating divisions into operating segments which have similar economic characteristics and divisions are similar in the majority of the following areas: (1) the nature of the product and services; (2) the nature of the production process; (3) the type or class of customer for their products and services; (4) the methods used to distribute their products or services; (5) if applicable, the nature of the regulatory environment. The Company has four segments - RF Connector and Cable Assembly, Medical Cabling and Interconnector, RF Wireless, and Cables Unlimited based upon this evaluation.

 

  The RF Connector and Cable Assembly segment is comprised of three divisions; the Cables Unlimited segment and the Medical Cabling and Interconnector segment are each comprised of one division, while the RF Wireless segment is comprised of two divisions.  The four divisions that meet the quantitative thresholds for segment reporting are Connector & Cable Assembly, Cables Unlimited, Bioconnect and RF Wireless. Each of the other divisions aggregated into these segments have similar products that are marketed to their respective customer base; production and product development processes are similar in nature. The specific customers are different for each division; however, there is some overlapping of product sales to them. The methods used to distribute products are similar within each division aggregated.

 

Management identifies the Company’s segments based on strategic business units that are, in turn, based along market lines. These strategic business units offer products and services to different markets in accordance with their customer base and product usage. For segment reporting purposes, the Company aggregates the Connector & Cable Assembly, Aviel, and Oddcables divisions into the RF Connector and Cable Assembly segment, while the Cables Unlimited division constitutes the Cables Unlimited segment. The Bioconnect Division makes up the Medical Cabling and Interconnector segment, and the RF Neulink and RadioMobile divisions make up the RF Wireless segment.

 

As reviewed by the Company’s chief operating decision maker, the Company evaluates the performance of each segment based on income or loss before income taxes. The Company charges depreciation and amortization directly to each division within the segment. Effective beginning with the second quarter of 2013, the Company changed its measurement of segment profit or loss whereby certain corporate costs, previously attributed to the RF Connector and Cable Assembly segment, have been allocated to each of the segments. Certain amounts in the 2012 segment tables have been reclassified to conform to the 2013 presentation to reflect all segment information on a comparable basis. Accounts receivable, inventory, fixed assets, goodwill and intangible assets are the only assets identified by segment. Except as discussed above, the accounting policies for segment reporting are the same as for the Company as a whole.

 

Substantially all of the Company’s operations are conducted in the United States; however, the Company derives a portion of its revenue from export sales. The Company attributes sales to geographic areas based on the location of the customers. The following table presents the sales of the Company by geographic area for the three and six month periods ended April 30, 2013 and 2012 (in thousands):

 

    Three Months Ended April 30,     Six Months Ended April 30,  
    2013     2012     2013     2012  
United States   $ 8,832     $ 6,331     $ 18,881     $ 11,521  
Foreign Countries:                                
Canada     132       162       280       304  
Israel     51       19       148       117  
Mexico     87       139       278       234  
All Other     60       21       84       55  
      330       341       790       710  
                                 
Totals   $ 9,162     $ 6,672     $ 19,671     $ 12,231  

 

Net sales, income (loss) before provision for income taxes and other related segment information for the three months ended April 30, 2013 and 2012 are as follows (in thousands): 

 

    RF Connectors           Medical                    
    and     Cables     Cabling and     RF              
2013   Cable Assembly     Unlimited     Interconnector     Wireless     Corporate     Total  
Net sales   $ 3,567     $ 4,450     $ 830     $ 315     $ -     $ 9,162  
Income (loss) before provision for income taxes     636       934       239       (173 )     1       1,637  
Depreciation and amortization     61       87       11       2       -       161  
                                                 
2012                                                
Net sales   $ 3,416     $ 1,836     $ 768     $ 652     $ -     $ 6,672  
Income before provision for income taxes     482       105       236       77       5       905  
Depreciation and amortization     56       74       11       1       -       142  

 

Net sales, income (loss) before provision for income taxes and other related segment information for the six months ended April 30, 2013 and 2012 are as follows (in thousands):

 

    RF Connectors           Medical                    
    and     Cables     Cabling and     RF              
2013   Cable Assembly     Unlimited     Interconnector     Wireless     Corporate     Total  
Net sales   $ 7,384     $ 9,842     $ 1,517     $ 928     $ -     $ 19,671  
Income (loss) before provision for income taxes     1,187       2,246       395       (130 )     2       3,700  
Depreciation and amortization     122       172       22       4       -       320  
                                                 
2012                                                
Net sales   $ 6,520     $ 3,280     $ 1,442     $ 989     $ -     $ 12,231  
Income (loss) before provision for income taxes     762       35       380       (63 )     10       1,124  
Depreciation and amortization     103       176       21       4       -       304