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Note 8 - Segment Information
 3 Months Ended
Jan. 31, 2026
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 8 – Segment information

 

We previously managed our business as two reportable segments, the RF Connector and Cable Assembly segment and the Custom Cabling Manufacturing and Assembly segment. During the fourth quarter of fiscal year 2025, we completed changes to the structure of our organization in connection with broader restructuring initiatives, including consolidation of manufacturing operations, headcount reductions, and the transition of our sales organization to a unified, customer‑centric model. As a result of these changes, we now operate as a single reportable segment. Comparative prior‑period segment disclosures that reflected the previous two segments have been revised to conform to this change in our reportable segment.

 

Our CODM, which is our Chief Executive Officer, evaluates our financial information such as revenue, margins, operating expenses, net income or loss, and other non-GAAP financial measures on a consolidated basis to allocate resources and assess performance. However, while the Company’s CODM uses more than one measure to assess performance, the Company’s segment disclosures do not include non-GAAP disclosures. The Company has determined that the disclosures below correspond with the amounts in the consolidated financial statements and are most consistent with GAAP.

 

The following table presents our single segment revenue, gross profit, significant expenses, and net loss for the three months ended January 31, 2026 and 2025 (in thousands):

 

   

Three Months Ended January 31,

  
   

2026

    

2025

  

Net sales

   $ 18,969     $ 19,200  

Cost of goods sold:

                

Material cost

     8,318       9,275  

Salaries and benefits

     3,365       3,242  

Depreciation

     128       132  

Other costs of sales

     1,038       834  

Total cost of goods sold

     12,849       13,483  
                 

Gross profit

     6,120       5,717  
                 

Operating expenses:

                

Salaries and benefits

     2,248       2,190  

Engineering expense

     852       682  

Stock-based compensation expense

     264       195  

Commission and bonus

     346       465  

Depreciation

     79       72  

Amortization

     411       411  

Corporate and public company fees

     535       434  

Selling and general

     1,208       1,212  

Total operating expenses

     5,943       5,661  
                 

Operating income

     177       56  
                 

Other expense

     (193 )     (265 )
                 

Loss before provision for income taxes

     (16 )     (209 )

Provision for income taxes

     34       36  
                 

Consolidated net loss

   $ (50 )   $ (245 )
                 

Total assets

   $ 70,335     $ 70,429  
                 

Expenditures for Segment Assets

   $ 218     $ 27  

 

The Company’s single reportable segment total assets equal consolidated total assets.

 

The following table presents revenue for the products and solutions that we offer as of January 31, 2026 and 2025 (in thousands):

 

   

Three Months Ended January 31,

          
   

2026

            

2025

          

Interconnect

   $ 6,860       36 %   $ 5,401       28 %

Custom Cabling

     6,416       34 %     4,730       25 %

Integrated Systems

     5,693       30 %     9,069       47 %

Total net sales

   $ 18,969       100 %   $ 19,200       100 %

 

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 months ended January 31, 2026 and 2025 (in thousands):

 

   

Three Months Ended January 31,

  
   

2026

    

2025

  
                 

United States

   $ 17,520     $ 18,058  

Foreign Countries:

                

Canada

     772       636  

Germany

     164       60  

Netherlands

     155       32  

United Kingdom

     116       36  

All Other

     242       378  
      1,449       1,142  
                 

Totals

   $ 18,969     $ 19,200