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Nature of Operations, Segment Reporting and Geographical Information
 12 Months Ended
Jan. 31, 2015
Segment Reporting [Abstract]  
Nature of Operations, Segment Reporting and Geographical Information

Note 13—Nature of Operations, Segment Reporting and Geographical Information

The Company’s operations consist of the design, development, manufacture and sale of specialty printers and data acquisition and analysis systems, including both hardware & software and related consumable supplies. The Company organizes and manages its business as a portfolio of products and services designed around a common theme of data acquisition and information output. The Company has two reporting segments consistent with its sales product groups: QuickLabel Systems (QuickLabel) and Test & Measurement (T&M).

QuickLabel produces an array of high-technology digital color and monochrome label printers, labeling software and consumables for a variety of commercial industries worldwide. T&M produces data recording equipment used worldwide for a variety of recording, monitoring and troubleshooting applications for many industries including aerospace, automotive, defense, rail, energy, industrial and general manufacturing.

Business is conducted in the United States and through foreign affiliates in Canada, Europe, Southeast Asia and Mexico. Manufacturing activities are primarily conducted in the United States. Sales and service activities outside the United States are conducted through wholly-owned entities and, to a lesser extent, through authorized distributors and agents. Transfer prices are intended to produce gross profit margins as would be associated with an arms-length transaction.

On January 22, 2014, Astro-Med completed the acquisition of the ruggedized printer product line from Miltope. Astro-Med’s ruggedized printer product line is part of the Ruggedized product group and is reported as part of the T&M segment. The results of the Miltope’s ruggedized printer product line operations have been included from the date of acquisitions for all periods presented below. Refer to Note 2, “Acquisition,” for further details.

On January 31, 2013, the Company completed the sale of substantially all of the assets of its Grass Technologies Product Group (Grass) in order to focus on its core businesses. Consequently, the Company has classified the results of operations of Grass as discontinued operations for the fiscal 2014 period presented. Refer to Note 20 “Discontinued Operations,” for further details.

The accounting policies of the reporting segments are the same as those described in the summary of significant accounting policies herein. The Company evaluates segment performance based on the segment profit before corporate and financial administration expenses.

Summarized below are the Net Sales and Segment Operating Profit (both in dollars and as a percentage of Net Sales) for each reporting segment:

 

($ in thousands)    Net Sales      Segment Operating Profit      Segment Operating Profit %
of Net Sales		  
     2015      2014          2015              2014          2015     2014  

QuickLabel

    $ 59,779       $ 49,065       $ 7,259       $ 5,154         12.1 %      10.5 % 

T&M

      28,568         19,527         5,627         2,655         19.7 %      13.6 % 
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total

    $ 88,347       $ 68,592         12,886         7,809         14.6 %      11.4 % 
  

 

 

     

 

 

           

 

 

    

 

 

  

Product Replacement Costs

            —           672        

Corporate Expenses

            5,655         5,604        
        

 

 

     

 

 

       

Operating Income

            7,231         1,533        

Other Expense

            299         121        
        

 

 

     

 

 

       

Income from Continuing Operations before Income Taxes

            6,932         1,412        

Income Tax Provision for Continuing Operations

            2,270         175        
        

 

 

     

 

 

       
           4,662         1,237        

Income from Discontinued Operations, Net of Taxes

            —           1,975        
        

 

 

     

 

 

       

Net Income

          $ 4,662       $ 3,212        
        

 

 

     

 

 

       

No customer accounted for greater than 10% of net sales in fiscal 2015 and 2014.

Other information by segment is presented below:

 

(In thousands)    Assets  
     2015      2014  

QuickLabel

    $ 24,874       $ 25,306   

T&M

      22,323         17,049   

Discontinued Operations

      —           3,917   

Corporate*

      27,133         31,692   
  

 

 

     

 

 

  

Total

    $ 74,330       $ 77,964   
  

 

 

     

 

 

  

 

* Corporate assets consist principally of cash and cash equivalents, securities available for sale, and building held for sale.

 

(In thousands)    Depreciation and
Amortization		      Capital Expenditures  
     2015      2014          2015              2014      

QuickLabel

    $ 678       $ 639       $ 1,408       $ 543   

T&M

      1,385         640         839         585   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 2,063       $ 1,279       $ 2,247       $ 1,128   
  

 

 

     

 

 

     

 

 

     

 

 

  

Geographical Data

Presented below is selected financial information by geographic area:

 

(In thousands)    Net Sales      Long-Lived Assets  
     2015      2014      2015      2014  

United States

    $ 61,494       $ 48,679       $ 10,422       $ 10,115   

Europe

      18,181         14,909         383         538   

Canada

      3,934         2,569         272         339   

Asia

      1,408         1,167         —          —    

Central and South America

      1,919         908         —          —    

Other

      1,411         360         —          —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 88,347       $ 68,592       $ 11,077       $ 10,992   
  

 

 

     

 

 

     

 

 

     

 

 

  

Long-lived assets excludes goodwill assigned to the T&M segment of $1.0 million at January 31, 2015 and 2014.