XML 35 R21.htm IDEA: XBRL DOCUMENT v2.4.0.6
Segment Reporting
 12 Months Ended
Dec. 31, 2011
Segment Reporting [Abstract]  
Segment Reporting
(13) Segment Reporting

The Company follows the guidance prescribed by ASC Topic 280, Segment Reporting, which governs the way the Company reports information about its operating segments.

Management has organized the Company around its products and services and has three reportable segments: Technical Products and Services ("TP&S"), Electrical and Instrumentation Construction ("E&I") and American Access Technologies ("AAT"). TP&S develops, manufactures, provides and markets switchgear and variable speed drives. The service component of this segment includes retrofitting equipment upgrades, startups, testing and troubleshooting electrical substations, switchgear, drives and control systems. Equity income from foreign joint ventures and joint venture management related expenses are reported in the section net equity income (loss) from foreign operations. The E&I segment installs electrical equipment for the energy, water, industrial, marine and commercial markets. The AAT segment manufacturers and markets zone cabling products and manufactures formed metal products of varying designs.

 

The table below represents segment results for the years ended December 31, 2011, 2010 and 2009.

 

     2011     2010     2009  

Net Sales:

       

Technical Products and Services

    $ 28,929      $ 20,583      $ 31,058   

Electrical and Instrumentation Construction

      15,478        11,503        14,570   

American Access Technologies

      7,533        6,878        6,535   
  

 

 

    

 

 

    

 

 

  
   $ 51,940      $ 38,964      $ 52,163   
  

 

 

    

 

 

    

 

 

  

Gross Profit (Loss):

       

Technical Products and Services

    $ 4,589      $ 1,155      $ 6,096   

Electrical and Instrumentation Construction

      1,233        834        (483 ) 

American Access Technologies

      1,333        1,667        1,018   
  

 

 

    

 

 

    

 

 

  
   $ 7,155      $ 3,656      $ 6,631   
  

 

 

    

 

 

    

 

 

  

Operating Income from domestic operations and equity in foreign joint ventures' operations

       

Technical Products and Services

    $ 3,891      $ 175      $ 2,954   

Electrical and Instrumentation Construction

      1,233        834        (1,834 ) 

American Access Technologies

      (227 )      208        (557 ) 

Corporate and other unallocated expenses

      (6,607 )      (5,551 )      (1,319 ) 
  

 

 

    

 

 

    

 

 

  

Income from domestic operations

      (1,710 )      (4,334 )      (756 ) 
  

 

 

    

 

 

    

 

 

  

Equity income from BOMAY

      1,656        2,341        1,735   

Equity income from MIEFE

      10        56        395   

Equity income from AAG

      251        (93 )      —     

Foreign operations expenses

      (437 )      (436 )      (407 ) 
  

 

 

    

 

 

    

 

 

  

Equity income from foreign joint ventures' operations, net of operations related expenses

      1,480        1,868        1,723   
  

 

 

    

 

 

    

 

 

  

Income (loss) from domestic operations and net equity in foreign joint ventures' operations

    $ (230 )    $ (2,466 )    $ 967   
  

 

 

    

 

 

    

 

 

  

The Company's management does not separately review and analyze its assets on a segment basis for TP&S, E&I, and AAT and all assets for the segments are recorded within the corporate segment's records. Unallocated general and administrative expenses include compensation costs and other expenses that cannot be meaningfully associated with the individual segments. With the exception of equity income from foreign joint ventures and joint venture management related expenses, all other costs, expenses and other income have been allocated to their respective segments.

The current allocation of expenses and other income has changed. In prior years, the Company allocated expenses and other income based on net sales to the segments. Currently, expenses and other income that are specifically associated with the segments have been included in their respective segments income (loss). All expenses and other income not associated with a specific segment are included in unallocated general and administrative expenses.

 

The following table reflects the quarterly information for the applicable time periods.

 

     2011  
     Q1     Q2     Q3     Q4     Total  

Net Sales

    $ 12,069      $ 11,427      $ 13,704      $ 14,740      $ 51,940   

Gross profit

      1,198        1,506        2,183        2,268        7,155   

Net income (loss)

      (324 )      (727 )      359        (5,196 )      (5,888 ) 

Earnings (loss) per share:

           

Basic

    $ (0.04 )    $ (0.09 )    $ 0.04      $ (0.66 )    $ (0.75 ) 
          
     2010  
     Q1     Q2     Q3     Q4     Total  

Net Sales

    $ 9,658      $ 8,288      $ 10,472      $ 10,546      $ 38,964   

Gross profit

      727        381        1,043        1,505        3,656   

Net income (loss)

      (410 )      (1,143 )      (340 )      199        (1,694 ) 

Earnings (loss) per share:

           

Basic

    $ (0.05 )    $ (0.15 )    $ (0.04 )    $ 0.02      $ (0.22 )