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Segment Information
 6 Months Ended
Jun. 30, 2012
Segment Information [Abstract]  
Segment Information
4. Segment Information

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 included in the TP&S segment because their operations are exclusively involved in TP&S activities. The E&I segment installs electrical equipment for the energy, water, industrial, marine and commercial markets. The AAT segment manufactures and markets zone cabling and formed metal products of varying designs.

 

The following are selected financial details regarding the Company’s reportable segments (in thousands):

 

                                                                 
    Three Months Ended June 30,           Six Months Ended June 30,  
    2012           2011           2012           2011        

Revenue:

                                                                

Technical Products and Services

   $ 8,647             $ 5,384             $ 18,470             $ 11,784          

Electrical and Instrumentation Construction

     2,615               4,361               5,607               8,278          

American Access Technologies

     1,610               1,682               3,227               3,433          
   

 

 

            

 

 

            

 

 

            

 

 

          
    $ 12,872             $ 11,427             $ 27,304             $ 23,495          
   

 

 

            

 

 

            

 

 

            

 

 

          

Gross profit:

                                                                

Technical Products and Services

   $ 1,587       18 %    $ 846       16 %    $ 2,957       16 %    $ 1,343       11 % 

Electrical and Instrumentation Construction

     330       13 %      318       7 %      532       9 %      616       7 % 

American Access Technologies

     255       16 %      342       20 %      456       14 %      744       22 % 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
    $ 2,172       17 %    $ 1,506       13 %    $ 3,945       14 %    $ 2,703       12 % 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) from domestic operations and net equity income from foreign joint ventures’ operations:

                                                                

Technical Products and Services

   $ 1,448       17 %    $ 371       7 %    $ 2,553       14 %    $ 615       5 % 

Electrical and Instrumentation Construction

     330       13 %      318       7 %      532       9 %      616       7 % 

American Access Technologies

     (115 )      -7 %      (32 )      -2 %      (303 )      -9 %      (12 )      0 % 

Corporate and other unallocated expenses

     (1,495 )              (1,937 )              (2,812 )              (3,093 )         
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) from domestic operations

     168       1 %      (1,280 )      -11 %      (30 )      0 %      (1,874 )      -8 % 
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Equity income from BOMAY

     1,062               387               1,761               678          

Equity income (loss) from MIEFE

     11               (112 )              20               (138 )         

Equity income (loss) from AAG

     (19 )              (14 )              44               (42 )         

Foreign operations expenses

     (123 )              (117 )              (223 )              (246 )         
   

 

 

            

 

 

            

 

 

            

 

 

          

Net equity income from foreign joint ventures’ operations

     931               144               1,602               252          
   

 

 

            

 

 

            

 

 

            

 

 

          

Income (loss) from domestic operations and net equity income from foreign joint ventures’ operations

   $ 1,099             $ (1,136 )            $ 1,572             $ (1,622 )         
   

 

 

            

 

 

            

 

 

            

 

 

          

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’ operations and foreign operations expenses, which are attributable to TP&S, all other costs, expenses and other income have been allocated to their respective segments.