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Nature of Operations, Segment Reporting and Geographical Information | 12 Months Ended
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Jan. 31, 2019
Segment Reporting [Abstract] |
Nature of Operations, Segment Reporting and Geographical Information | Note 16—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 (PI) and Test & Measurement (T&M). The Product Identification segment produces an array of high-technology digital color and monochrome label printers and mini presses, labeling software and consumables for a variety of commercial industries worldwide. AstroNova’s T&M segment produces data acquisition systems 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 branch offices and subsidiaries 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 September 28, 2017, AstroNova entered into the Honeywell Agreement to acquire the exclusive perpetual world-wide license to manufacture Honeywell’s narrow format flight deck printers for two aircraft families. Revenue from the sales of these printers is reported as part of our T&M segment beginning in the third quarter of fiscal 2018. Refer to Note 3, “Acquisitions,” for further details. On February 1, 2017, AstroNova completed its acquisition of TrojanLabel. TrojanLabel is reported as part of our Product Identification segment beginning with the first quarter of fiscal 2018. Refer to Note 3, “Acquisitions,” 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 as a % of Revenue |
|  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Product Identification |  | $ | 86,786 |  |  | $ | 81,681 |  |  | $ | 69,862 |  |  | $ | 7,910 |  |  | $ | 10,561 |  |  | $ | 9,821 |  |  |  | 9.1 | % |  |  | 12.9 | % |  |  | 14.1 | %
T&M |  |  | 49,871 |  |  |  | 31,720 |  |  |  | 28,586 |  |  |  | 11,933 |  |  |  | 3,754 |  |  |  | 4,399 |  |  |  | 23.9 | % |  |  | 11.8 | % |  |  | 15.4 | %
Total |  | $ | 136,657 |  |  | $ | 113,401 |  |  | $ | 98,448 |  |  |  | 19,843 |  |  |  | 14,315 |  |  |  | 14,220 |  |  |  | 14.5 | % |  |  | 12.6 | % |  |  | 14.4 | %
Corporate Expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,123 |  |  |  | 8,903 |  |  |  | 7,939 |  |  |  |  |  |  |  |  |  |  |  |  |
Operating Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,720 |  |  |  | 5,412 |  |  |  | 6,281 |  |  |  |  |  |  |  |  |  |  |  |  |
Other Income (Expense), Net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,412) |  |  |  | (255) |  |  |  | 324 |  |  |  |  |  |  |  |  |  |  |  |  |
Income Before Income Taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7,308 |  |  |  | 5,157 |  |  |  | 6,605 |  |  |  |  |  |  |  |  |  |  |  |  |
Income Tax Provision |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,578 |  |  |  | 1,871 |  |  |  | 2,377 |  |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 5,730 |  |  | $ | 3,286 |  |  | $ | 4,228 |  |  |  |  |  |  |  |  |  |  |  |  |
No customer accounted for greater than 10% of net revenue in fiscal 2019, 2018 and 2017. Other information by segment is presented below:
(In thousands) |  | Assets |
|  | 2019 |  |  | 2018 |
Product Identification |  | $ | 49,091 |  |  | $ | 49,832 |
T&M |  |  | 62,250 |  |  |  | 60,579 |
Corporate* |  |  | 7,642 |  |  |  | 11,902 |
Total |  | $ | 118,983 |  |  | $ | 122,313 |
* | Corporate assets consist principally of cash, cash equivalents and securities available for sale.
(In thousands) |  | Depreciation and Amortization |  |  | Capital Expenditures |
|  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |  |  | 2017 |
Product Identification |  | $ | 1,888 |  |  | $ | 1,536 |  |  | $ | 885 |  |  | $ | 1,935 |  |  | $ | 1,497 |  |  | $ | 767 |
T&M |  |  | 4,264 |  |  |  | 2,458 |  |  |  | 1,546 |  |  |  | 710 |  |  |  | 707 |  |  |  | 471 |
Total |  | $ | 6,152 |  |  | $ | 3,994 |  |  | $ | 2,431 |  |  | $ | 2,645 |  |  | $ | 2,204 |  |  | $ | 1,238 |
Geographical Data Presented below is selected financial information by geographic area:
(In thousands) |  | Revenue |  |  | Long-Lived Assets* |
|  | 2019 |  |  | 2018 |  |  | 2017 |  |  | 2019 |  |  | 2018 |
United States |  | $ | 83,668 |  |  | $ | 69,795 |  |  | $ | 69,850 |  |  | $ | 36,750 |  |  | $ | 39,432 |
Europe |  |  | 31,574 |  |  |  | 29,948 |  |  |  | 18,848 |  |  |  | 3,223 |  |  |  | 3,808 |
Asia |  |  | 8,207 |  |  |  | 3,808 |  |  |  | 1,664 |  |  |  | — |  |  |  | — |
Canada |  |  | 6,692 |  |  |  | 5,373 |  |  |  | 5,008 |  |  |  | 81 |  |  |  | 145 |
Central and South America |  |  | 4,147 |  |  |  | 3,402 |  |  |  | 3,053 |  |  |  | — |  |  |  | — |
Other |  |  | 2,369 |  |  |  | 1,075 |  |  |  | 25 |  |  |  | — |  |  |  | — |
Total |  | $ | 136,657 |  |  | $ | 113,401 |  |  | $ | 98,448 |  |  | $ | 40,054 |  |  | $ | 43,385 |
* | Long-lived assets excludes goodwill assigned to the T&M segment of $4.5 million at both January 31, 2019 and 2018 and $7.8 million assigned to the PI segment at January 31, 2019.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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