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Nature of Operations, Segment Reporting and Geographical Information
 12 Months Ended
Jan. 31, 2017
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 and 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 revenue product groups: Product Identification and Test & Measurement (T&M).

The Product Identification segment produces an array of tabletop, 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, China Southeast Asia and Mexico. Manufacturing activities are primarily conducted in the United States. Revenue 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 June 19, 2015, AstroNova completed the asset purchase of the aerospace printer product line from RITEC. AstroNova’s aerospace printer product line is part of the T&M product group and is reported as part of the T&M segment. The Company began shipment of the RITEC products in the third quarter of fiscal 2016. Refer to Note 2, “Acquisition,” 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 Revenue and Segment Operating Profit (both in dollars and as a percentage of Revenue) for each reporting segment:

 

($ in thousands)   Revenue     Segment Operating Profit     Segment Operating Profit %
of Revenue		  
    2017     2016     2015         2017             2016             2015         2017     2016     2015  

Product Identification

   $ 69,862     $ 67,127     $ 59,779     $ 9,821     $ 9,300     $ 7,259       14.1%       13.9%       12.1%  

T&M

     28,586       27,531       28,568       4,399       3,664       5,627       15.4%       13.3%       19.7%  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

   $ 98,448     $ 94,658     $ 88,347       14,220       12,964       12,886       14.4%       13.7%       14.6%  
 

 

 

    

 

 

    

 

 

          

 

 

    

 

 

    

 

 

  

Corporate Expenses

           7,939       7,030       5,655        
       

 

 

    

 

 

    

 

 

        

Operating Income

           6,281       5,934       7,231        

Other Income (Expense)

           324       975       (299)        
       

 

 

    

 

 

    

 

 

        

Income before Income Taxes

           6,605       6,909       6,932        

Income Tax Provision

           2,377       2,384       2,270        
       

 

 

    

 

 

    

 

 

        

Net Income

         $ 4,228     $ 4,525     $ 4,662        
       

 

 

    

 

 

    

 

 

        

No customer accounted for greater than 10% of net revenue in fiscal 2017, 2016 and 2015.

Other information by segment is presented below:

 

(In thousands)    Assets  
     2017      2016  

Product Identification

    $ 30,624      $ 27,143  

T&M

      28,129        28,570  

Corporate*

      24,912        22,250  
  

 

 

     

 

 

  

Total

    $ 83,665      $ 77,963  
  

 

 

     

 

 

  

 

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

 

(In thousands)    Depreciation and
Amortization		      Capital Expenditures  
     2017      2016      2015      2017      2016      2015  

Product Identification

    $ 885      $ 690      $ 678      $ 767      $ 2,284      $ 1,408  

T&M

      1,546        1,375        1,385        471        777        839  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 2,431      $ 2,065      $ 2,063      $ 1,238      $ 3,061      $ 2,247  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Geographical Data

Presented below is selected financial information by geographic area:

 

(In thousands)    Revenue      Long-Lived Assets*  
     2017      2016      2015      2017      2016  

United States

    $ 69,850      $ 68,316      $ 61,494      $ 8,940      $ 9,310  

Europe

      18,848        16,830        18,181        168        290  

Canada

      5,008        4,487        3,934        172        207  

Central and South America

      3,053        2,436        1,919        0        —  

Asia

      1,664        1,741        1,408        0        —  

Other

      25        848        1,411        0        —  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total

    $ 98,448      $ 94,658      $ 88,347      $ 9,280      $ 9,807  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

 

* Long-lived assets excludes goodwill assigned to the T&M segment of $4.5 million at both January 31, 2017 and 2016.