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Segment Information | 3 Months Ended
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Apr. 30, 2025
Segment Reporting [Abstract] |
Segment Information | Note 17 – Segment 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 ID and Aerospace . Effective February 1, 2025, we changed the name of our Test & Measurement segment to “Aerospace” to better reflect the end markets we serve in that segment. The segment name change did not result in any change to the composition of our reportable segments and, therefore, did not result in any changes to our historical segment results or the way our chief operating decision maker (“CODM”) allocates resources or makes decisions. Our Product ID segment produces an array of high-technology digital color and monochrome label printers, commercial presses, direct to package/overprint printers, mail and sheet/flatpack printers and flexible packaging printers as well as supplies for a variety of industries worldwide. Our Aerospace segment produces our line of aerospace flight deck and cabin printers, as well as specialty airborne certified networking equipment and related supplies and services. The Aerospace segment also includes data acquisition systems used worldwide for a variety of recording, monitoring and troubleshooting applications for many industries including aerospace, defense, rail, energy, industrial and general manufacturing. Our 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 included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2025. The CODM does not evaluate reportable segment asset or liability information, and as such, assets are reported on a consolidated basis only. 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:
|  | Three Months Ended |
($ in thousands) |  | April 30, 2025 |  |  | April 27, 2024 |
Revenue: |  |  |  |  |  |
Product ID |  | $ | 26,289 |  |  | $ | 23,185 |
Aerospace |  |  | 11,419 |  |  |  | 9,776 |
Total Revenue |  | $ | 37,708 |  |  | $ | 32,961 |
Cost of Revenue: |  |  |  |  |  |
Product ID |  | $ | 17,561 |  |  | $ | 14,859 |
Aerospace |  |  | 7,495 |  |  |  | 6,130 |
Total Cost of Revenue |  | $ | 25,056 |  |  | $ | 20,989 |
Operating Expenses: |  |  |  |  |  |
Product ID (1) |  | $ | 5,937 |  |  | $ | 5,335 |
Aerospace(1) |  |  | 1,160 |  |  |  | 1,924 |
Total Operating Expenses |  | $ | 7,097 |  |  | $ | 7,259 |
Segment Operating Income: |  |  |  |  |  |
Product ID |  | $ | 2,791 |  |  | $ | 2,991 |
Aerospace |  |  | 2,764 |  |  |  | 1,722 |
Total Segment Operating Income |  | $ | 5,555 |  |  | $ | 4,713 |
Corporate Expense (2) |  |  | (4,984 | ) |  |  | (3,367 | )
Operating Income |  | $ | 571 |  |  | $ | 1,346 |
Interest Expense |  |  | (897 | ) |  |  | (482 | )
Other Income (Expense) (3) |  |  | 25 |  |  |  | (117 | )
Income (Loss) Before Income Taxes |  | $ | (301 | ) |  | $ | 747 |
Income Tax Provision (Benefit) |  |  | 75 |  |  |  | (434 | )
Net Income (Loss) |  | $ | (376 | ) |  | $ | 1,181 |
(1) Product ID and Aerospace segment operating expenses include Selling and Marketing and Research and Development. (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 gain/(loss) on foreign exchange and other miscellaneous income/(expense) not allocated to the reporting segments. Revenue by product type for each reporting segment:
| April 30, |  |  | April 27, |
($ in thousands) | 2025 |  |  | 2024 |
Product ID : |  |  |  |  |
Hardware | $ | 4,776 |  |  | $ | 3,802 |
Supplies |  | 19,877 |  |  |  | 17,581 |
Other |  | 1,636 |  |  |  | 1,802 |
Total Product ID Revenue |  | 26,289 |  |  |  | 23,185 |
Aerospace: |  |  |  |  |
Hardware |  | 6,519 |  |  |  | 5,073 |
Supplies |  | 1,204 |  |  |  | 1,053 |
Other |  | 3,696 |  |  |  | 3,650 |
Total Aerospace Revenue |  | 11,419 |  |  |  | 9,776 |
Total Revenue | $ | 37,708 |  |  | $ | 32,961 |
Other information by segment is presented below:
|  | Depreciation and Amortization |  |  | Capital Expenditures |
|  | April 30, |  |  | April 27, |  |  | April 30, |  |  | April 27, |
(In thousands) |  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Product ID |  | $ | 973 |  |  | $ | 591 |  |  | $ | 60 |  |  | $ | 492 |
Aerospace |  |  | 317 |  |  |  | 320 |  |  |  | — |  |  |  | — |
Total |  | $ | 1,290 |  |  | $ | 911 |  |  | $ | 60 |  |  | $ | 492 |

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- Definition The entire disclosure for reporting segments including data and tables. 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