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Note 9 - Segment Information | 6 Months Ended
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Apr. 30, 2020
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | Note 9 – Segment i nformation We aggregate operating divisions into two reporting 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 April 30, 2020, we had two segments – RF Connector and Cable Assembly (“RF Connector segment”) and Custom Cabling Manufacturing and Assembly (“Custom Cabling segment”). The RF Connector segment consisted of one division and the Custom Cabling segment was composed of four divisions. The five divisions that met the quantitative thresholds for segment reporting are the RF Connector and Cable Assembly division (“RF Connector division”), Cables Unlimited, Rel-Tech, C Enterprises, and Schrofftech. While each segment has similar products and services, there was little overlapping of these services to their customer base. The biggest difference in segments is in the channels of sales: sales or product and services for the RF Connector segment were primarily through the distribution channel, while the Custom Cabling segment sales were through a combination of distribution and direct to the end customer. Management identifies 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 RF Connector division constitutes the RF Connector segment, and the Cables Unlimited, Rel-Tech, C Enterprises, and Schrofftech divisions constitute the Custom Cabling segment. As reviewed by our chief operating decision maker, we evaluate the performance of each segment based on income or loss before income taxes. We charge depreciation and amortization directly to each division within the segment. Accounts receivable, inventory, property and equipment, right of use 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 for the Company as a whole. Substantially all of our operations are conducted in the United States; however, we derive a portion of our revenue from export sales. We attribute sales to geographic areas based on the location of the customers. The following table presents the sales by geographic area for the three and six months ended April 30, 2020 and 2019 (in thousands):
|  | Three Months Ended April 30, |  |  | Six Months Ended April 30, |
|  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
United States |  | $ | 9,982 |  |  | $ | 13,451 |  |  | $ | 22,155 |  |  | $ | 23,921 |
Foreign Countries: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Canada |  |  | 290 |  |  |  | 113 |  |  |  | 407 |  |  |  | 278 |
Mexico |  |  | 7 |  |  |  | - |  |  |  | 12 |  |  |  | - |
All Other |  |  | 111 |  |  |  | 62 |  |  |  | 230 |  |  |  | 74 |
|  |  | 408 |  |  |  | 175 |  |  |  | 649 |  |  |  | 352 |
Totals |  | $ | 10,390 |  |  | $ | 13,626 |  |  | $ | 22,804 |  |  | $ | 24,273 |
Net sales, income (loss) before provision for income taxes and other related segment information for the three months ended April 30, 2020 and 2019 are as follows (in thousands):
|  | RF Connector and Cable Assembly |  |  | Custom Cabling Manufacturing and Assembly |  |  | Corporate |  |  | Total |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,768 |  |  | $ | 6,622 |  |  | $ | - |  |  | $ | 10,390 |
Income (loss) before provision for income taxes |  |  | 697 |  |  |  | (885 | ) |  |  | 7 |  |  |  | (181 | )
Depreciation and amortization |  |  | 41 |  |  |  | 212 |  |  |  | - |  |  |  | 253 |
Total assets |  |  | 8,126 |  |  |  | 16,021 |  |  |  | 15,265 |  |  |  | 39,412 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 3,341 |  |  | $ | 10,285 |  |  | $ | - |  |  | $ | 13,626 |
Income before provision for income taxes |  |  | 257 |  |  |  | 1,105 |  |  |  | 14 |  |  |  | 1,376 |
Depreciation and amortization |  |  | 45 |  |  |  | 96 |  |  |  | - |  |  |  | 141 |
Total assets |  |  | 6,972 |  |  |  | 12,773 |  |  |  | 14,660 |  |  |  | 34,405 |
Net sales, income (loss) before provision (benefit) for income taxes and other related segment information for the six months ended April 30, 2020 and 2019 are as follows (in thousands):
|  | RF Connector and Cable Assembly |  |  | Custom Cabling Manufacturing and Assembly |  |  | Corporate |  |  | Total |
2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 6,957 |  |  | $ | 15,847 |  |  | $ | - |  |  | $ | 22,804 |
Income (loss) before benefit for income taxes |  |  | 979 |  |  |  | (1,166 | ) |  |  | 18 |  |  |  | (169 | )
Depreciation and amortization |  |  | 83 |  |  |  | 425 |  |  |  | - |  |  |  | 508 |
Total assets |  |  | 8,126 |  |  |  | 16,021 |  |  |  | 15,265 |  |  |  | 39,412 |
2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net sales |  | $ | 6,599 |  |  | $ | 17,674 |  |  | $ | - |  |  | $ | 24,273 |
Income before provision for income taxes |  |  | 537 |  |  |  | 1,611 |  |  |  | 36 |  |  |  | 2,184 |
Depreciation and amortization |  |  | 90 |  |  |  | 188 |  |  |  | - |  |  |  | 278 |
Total assets |  |  | 6,972 |  |  |  | 12,773 |  |  |  | 14,660 |  |  |  | 34,405 |

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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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