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Segment Information
 9 Months Ended
Sep. 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 power distribution equipment including switchgear, motor control centers, and other power distribution products, as well as power conversion equipment such as Analog and Digital SCR drives and AV variable frequency drives. The company also manufactures power control buildings (PCRs) which house the power distribution and power conversion equipment deployed at a customer’s operation site. The service component of this segment includes retrofitting equipment upgrades, startups, testing and troubleshooting electrical substations, switchgear, drives and control systems. The primary markets for the TP&S solutions include oil & gas (land and offshore drilling, offshore production, pipeline and fractionation, and refining/petrochem) as well as the power generation and distribution and marine and industrial segments. 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 same oil & gas, power generation and distribution, water/wastewater and marine and industrialmarkets. The AAT segment manufactures and markets zone cabling and customed formed metal products of varying designs for the industrial marketplace.

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

 

                                 
    Three Months Ended September 30,     Nine Months Ended September 30,  
    2012     2011     2012     2011  

Revenue:

                                

Technical Products and Services

   $ 8,903     $ 8,123     $ 27,373     $ 19,907  

Electrical and Instrumentation Construction

     1,495       3,561       7,102       11,839  

American Access Technologies

     1,327       2,020       4,554       5,454  
   

 

 

    

 

 

    

 

 

    

 

 

  
    $ 11,725     $ 13,704     $ 39,029     $ 37,200  
   

 

 

    

 

 

    

 

 

    

 

 

  

Gross profit:

                                

Technical Products and Services

   $ 1,507     $ 1,487     $ 4,464     $ 2,830  

Electrical and Instrumentation Construction

     61       214       593       830  

American Access Technologies

     121       482       577       1,227  
   

 

 

    

 

 

    

 

 

    

 

 

  
    $ 1,689     $ 2,183     $ 5,634     $ 4,887  
   

 

 

    

 

 

    

 

 

    

 

 

  

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

                                

Technical Products and Services

   $ 1,389     $ 1,140     $ 3,941     $ 1,754  

Electrical and Instrumentation Construction

     61       214       593       830  

American Access Technologies

     (227 )      66       (530 )      55  

Corporate and other unallocated expenses

     (1,100 )      (1,368 )      (3,912 )      (4,460 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Income (loss) from domestic operations

     123       52       92       (1,821 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Equity income from BOMAY

     624       666       2,385       1,343  

Equity income (loss) from MIEFE

     (1 )      66       19       (72 ) 

Equity income (loss) from AAG

     123       90       167       49  

Foreign operations expenses

     (23 )      (113 )      (246 )      (359 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

Net equity income from foreign joint ventures’ operations

     723       709       2,325       961  
   

 

 

    

 

 

    

 

 

    

 

 

  

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

   $ 846     $ 761     $ 2,417     $ (860 ) 
   

 

 

    

 

 

    

 

 

    

 

 

  

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.