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Note 8 - Segment Information
 6 Months Ended
Apr. 30, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 8 – Segment information

 

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; and (5) if applicable, the nature of the regulatory environment. Based upon this evaluation, as of April 30, 2025, we had two reportable segments – RF Connector and Cable Assembly (“RF Connector”) segment and Custom Cabling Manufacturing and Assembly (“Custom Cabling”) segment.

 

The RF Connector segment consists of three divisions and the Custom Cabling segment also consists of three divisions. The six 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, Schrofftech, and Microlab. 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 products 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 end customer.

 

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.

 

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, 2025 and 2024 (in thousands):

 

   

Three Months Ended April 30,

    

Six Months Ended April 30,

  
   

2025

    

2024

    

2025

    

2024

  
                                 

United States

   $ 16,461     $ 14,415     $ 34,520     $ 26,475  

Foreign Countries:

                                

Canada

     1,990       949       2,626       1,830  

Germany

     107       46       167       95  

Netherlands

     92       42       124       71  

United Kingdom

     90       211       127       267  

All Other

     170       447       546       830  
      2,449       1,695       3,590       3,093  
                                 

Totals

   $ 18,910     $ 16,110     $ 38,110     $ 29,568  

 

Net sales, (loss) income before provision for income taxes and other related segment information for the three months ended April 30, 2025 and 2024 are as follows (in thousands):

 

   

RF Connector

    

Custom Cabling

                  
   

and

   

Manufacturing and

                 

 

  

Cable Assembly

    

Assembly

    

Corporate

    

Total

  
2025                                

Net sales

   $ 9,357     $ 9,553     $ -     $ 18,910  

(Loss) income before provision for income taxes

     (1,282 )     1,562       (390 )     (110 )

Depreciation and amortization

     518       97       -       615  

Total assets

     45,668       21,262       5,749       72,679  

Expenditures for Segment Assets

     14       20       -       34  
                                 

2024

                                

Net sales

   $ 9,902     $ 6,208     $ -     $ 16,110  

(Loss) income before provision for income taxes

     (660 )     350       (335 )     (645 )

Depreciation and amortization

     572       61       -       633  

Total assets

     51,007       17,746       4,070       72,823  

Expenditures for Segment Assets

     167       2       -       169  

 

Net sales, (loss) income before benefit for income taxes and other related segment information for the six months ended April 30, 2025 and 2024 are as follows (in thousands):

 

   

RF Connector

    

Custom Cabling

                  
   

and

   

Manufacturing and

                 

 

  

Cable Assembly

    

Assembly

    

Corporate

    

Total

  
2025                                

Net sales

   $ 18,081     $ 20,029     $ -     $ 38,110  

(Loss) income before provision from income taxes

     (2,786 )     3,121       (654 )     (319 )

Depreciation and amortization

     1,036       195       -       1,231  

Total assets

     45,668       21,262       5,749       72,679  

Expenditures for Segment Assets

     23       38       -       61  
                                 

2024

                                

Net sales

   $ 18,709     $ 10,859     $ -     $ 29,568  

(Loss) income before provision for income taxes

     (2,388 )     89       (539 )     (2,838 )

Depreciation and amortization

     1,085       181       -       1,266  

Total assets

     51,007       17,746       4,070       72,823  

Expenditures for Segment Assets

     295       17       -       312