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Segment information

9 Months Ended

Jul. 31, 2018

Segment Reporting [Abstract]

Segment information

Note 9 - Segment information

The Company aggregates operating divisions into operating segments that have similar economic characteristics primarily in 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. Based upon this evaluation, as of July 31, 2018, the Company had two segments: 1) RF Connector and Cable Assembly and 2) Custom Cabling Manufacturing and Assembly.

The RF Connector and Cable Assembly segment consisted of one division and the Custom Cabling Manufacturing and Assembly segment was composed of three divisions. The four divisions that met the quantitative thresholds for segment reporting are Connector and Cable Assembly, Cables Unlimited, Comnet and Rel-Tech. 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 Connector and Cable Assembly division constitutes the RF Connector and Cable Assembly segment, and the Cables Unlimited, Comnet and Rel-Tech divisions constitute the Custom Cabling Manufacturing and Assembly 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. Accounts receivable, inventory, property and equipment, goodwill and intangible assets are the only assets identified by segment. Except as discussed above, the accounting policies for segment reporting are the same 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 nine months ended July 31, 2018 and 2017 (in thousands):

		Three Months Ended July 31,								Nine Months Ended July 31,
		2018				2017				2018				2017
United States		$	13,682			$	7,603			$	46,069			$	21,557
Foreign Countries:
Canada			142				180				419				356
Mexico			-				-				40				77
All Other			26				25				43				75
			168				205				502				508
Totals		$	13,850			$	7,808			$	46,571			$	22,065

Net sales, income from continuing operations before provision for income taxes and other related segment information for the three months ended July 31, 2018 and 2017 are as follows (in thousands): 

		RF Connector				Custom Cabling
		and				Manufacturing and
		Cable Assembly				Assembly				Corporate				Total
2018
Net sales		$	3,139			$	10,711			$	-			$	13,850
Income from continuing operations before provision for income taxes			310				1,833				13				2,156
Depreciation and amortization			42				170				-				212
2017
Net sales		$	2,964			$	4,844			$	-			$	7,808
Income from continuing operations before provision for income taxes			153				31				5				189
Depreciation and amortization			43				172				-				215

Net sales, income (loss) from continuing operations before provision (benefit) for income taxes and other related segment information for the nine months ended July 31, 2018 and 2017 are as follows (in thousands):

		RF Connector				Custom Cabling
		and				Manufacturing and
		Cable Assembly				Assembly				Corporate				Total
2018
Net sales		$	8,503			$	38,068			$	-			$	46,571
Income (loss) from continuing operations before provision (benefit) for income taxes			(34	)			6,747				20				6,733
Depreciation and amortization			129				505				-				634
2017
Net sales		$	8,106			$	13,959			$	-			$	22,065
Income (loss) from continuing operations before provision (benefit) for income taxes			236				(345	)			23				(86	)
Depreciation and amortization			131				518				-				649

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- References

No definition available.

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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