XML 39 R28.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Reporting and Geographical Information
 12 Months Ended
Jan. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting and Geographical Information

Note 17—Segment Reporting and Geographical Information

Our 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. We organize and manage our business as a portfolio of products and services designed around a common theme of data acquisition and information output. We have two reporting segments consistent with our revenue product groups: Product Identification (“PI”) and Test & Measurement (“T&M”).

Our PI segment produces an array of high-technology digital color and monochrome label printers and mini presses, labeling software and supplies for a variety of commercial industries worldwide and includes our fiscal 2025 MTEX acquisition and our fiscal 2023 acquisition of Astro Machine. Our 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. The T&M segment also includes our line of aerospace flight deck and cabin printers.

Our chief operating decision maker (“CODM”) has been identified as the President and Chief Executive Officer. The CODM regularly receives and uses discrete financial information about each reporting segment which is used for performance assessments and resource allocation decisions. The CODM evaluates the performance of and allocates resources to the reporting segments based on segment profit or loss, which represents the segments’ income (loss) before income taxes and excludes corporate expenses. The accounting policies of the reporting segments are the same as those described in the summary of significant accounting policies herein.

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.

 

Summarized below are the revenue and segment operating profit for each reporting segment:

($ in thousands)

 

2025

 

 

2024

 

 

2023

 

Revenue:

 

 

 

 

 

 

 

 

 

  PI :

 

$

102,345

 

 

$

104,041

 

 

$

103,089

 

  T&M

 

 

48,938

 

 

 

44,045

 

 

 

39,438

 

     Total Revenue

 

$

151,283

 

 

$

148,086

 

 

$

142,527

 

 

 

 

 

 

 

 

 

 

 

Cost of Revenue:

 

 

 

 

 

 

 

 

 

  PI

 

$

68,420

 

 

$

69,064

 

 

$

70,079

 

  T&M

 

 

30,114

 

 

 

27,401

 

 

 

24,292

 

     Total Cost of Revenue

 

$

98,534

 

 

$

96,465

 

 

$

94,371

 

 

 

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

 

 

 

  PI(1)

 

$

37,892

 

 

$

24,890

 

 

$

25,121

 

  T&M(1)

 

 

7,681

 

 

 

6,444

 

 

 

6,157

 

     Total Operating Expenses

 

$

45,573

 

 

$

31,334

 

 

$

31,278

 

 

 

 

 

 

 

 

 

 

 

 Segment Operating Income (Loss):

 

 

 

 

 

 

 

 

 

  PI

 

$

(3,967

)

 

$

10,087

 

 

$

7,889

 

  T&M

 

 

11,143

 

 

 

10,200

 

 

 

8,989

 

     Total Segment Operating Income (Loss)

 

$

7,176

 

 

$

20,287

 

 

$

16,878

 

 

 

 

 

 

 

 

 

 

 

   Corporate Expense (2)

 

 

(15,816

)

 

 

(11,491

)

 

 

(11,435

)

Operating Income (Loss)

 

$

(8,640

)

 

$

8,796

 

 

$

5,443

 

Other Income (Expense) (3)

 

 

(3,647

)

 

 

(2,723

)

 

 

(2,033

)

Income (Loss) Before Income Taxes

 

$

(12,287

)

 

$

6,073

 

 

$

3,410

 

Income Tax Provision

 

 

2,202

 

 

 

1,379

 

 

 

749

 

Net Income (Loss)

 

$

(14,489

)

 

$

4,694

 

 

$

2,661

 

 

(1) PI and T&M segment operating expenses include Selling and Marketing, Research and Development, and Goodwill Impairment.

(2) The amounts included in Corporate Expenses consist of executive and finance compensation, acquisition and integration costs, restructuring costs, professional fees as well as certain other non-recurring costs not allocated to the reporting segments.

(3) Includes interest expense, gain/(loss) on foreign exchange and other miscellaneous income/(expense) not allocated to the reporting segments.

 

No customer accounted for greater than 10% of net revenue in fiscal 2025, 2024, or 2023.

Revenue by product type for each reporting segment:

 

($ in thousands)

2025

 

 

2024

 

 

2023

 

  PI :

 

 

 

 

 

 

 

 

     Hardware

$

18,294

 

 

$

21,270

 

 

$

18,123

 

     Supplies

 

76,797

 

 

 

75,418

 

 

 

78,392

 

     Other

 

7,254

 

 

 

7,353

 

 

 

6,574

 

        Total PI Revenue

 

102,345

 

 

 

104,041

 

 

 

103,089

 

  T&M:

 

 

 

 

 

 

 

 

     Hardware

 

26,337

 

 

 

28,170

 

 

 

24,322

 

     Supplies

 

4,626

 

 

 

3,834

 

 

 

3,680

 

     Other

 

17,975

 

 

 

12,041

 

 

 

11,436

 

        Total T&M Revenue

 

48,938

 

 

 

44,045

 

 

 

39,438

 

       Total Revenue

$

151,283

 

 

$

148,086

 

 

$

142,527

 

 

Other information by segment is presented below:

 

 

 

Assets

 

 

 

January 31,

 

(In thousands)

 

2025

 

 

2024

 

PI

 

$

82,531

 

 

$

70,028

 

T&M

 

 

55,086

 

 

 

55,783

 

Corporate*

 

 

7,978

 

 

 

7,440

 

Total

 

$

145,595

 

 

$

133,251

 

 

* Corporate assets consist principally of cash, cash equivalents, deferred tax assets and refunds, and certain prepaid corporate assets.

 

 

 

Depreciation and Amortization

 

 

Capital Expenditures

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

 

2023

 

PI

 

$

3,530

 

 

$

2,572

 

 

$

2,219

 

 

$

1,066

 

 

$

1,687

 

 

$

121

 

T&M

 

 

1,250

 

 

 

1,694

 

 

 

1,697

 

 

 

99

 

 

 

10

 

 

 

108

 

Total

 

$

4,780

 

 

$

4,266

 

 

$

3,916

 

 

$

1,165

 

 

$

1,697

 

 

$

229

 

 

Geographical Data

Presented below is selected financial information by geographic area:

 

 

 

 

 

 

 

 

 

 

 

 

Long-Lived Assets (2)

 

 

 

Revenue (1)

 

 

January 31,

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

 

2025

 

 

2024

 

United States

 

$

89,466

 

 

$

84,757

 

 

$

83,559

 

 

$

29,868

 

 

$

32,090

 

Europe

 

 

39,121

 

 

 

41,761

 

 

 

38,859

 

 

 

11,149

 

 

 

754

 

Canada

 

 

8,210

 

 

 

8,742

 

 

 

8,690

 

 

 

141

 

 

 

171

 

Asia

 

 

8,018

 

 

 

7,216

 

 

 

5,547

 

 

 

—

 

 

 

6

 

Central and South America

 

 

4,967

 

 

 

4,221

 

 

 

4,589

 

 

 

—

 

 

 

—

 

Other

 

 

1,501

 

 

 

1,389

 

 

 

1,283

 

 

 

—

 

 

 

—

 

Total

 

$

151,283

 

 

$

148,086

 

 

$

142,527

 

 

$

41,158

 

 

$

33,021

 

 

(1) Certain amounts have been reclassified to conform to the current year's presentation.

(2) Long-lived assets exclude goodwill assigned to the T&M segment of $4.5 million at both January 31, 2025 and 2024 and $10.0 and $10.1 million assigned to the PI segment at January 31, 2025 and 2024, respectively.