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Segment Reporting | 12 Months Ended
--- | ---
Dec. 31, 2013
Segment Reporting |
(14) | 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, 2013, and 2012.
| 2013 |  |  | 2012 |
Net sales: |  |  |  |  |  |  |
Technical Products and Services | $ | 49,150 |  |  | $ | 38,973 |
Electrical and Instrumentation Construction |  | 10,089 |  |  |  | 9,196 |
American Access Technologies |  | 6,091 |  |  |  | 5,896 |
| $ | 65,330 |  |  | $ | 54,065 |
Gross profit (loss): |  |  |  |  |  |  |
Technical Products and Services | $ | 9,072 |  |  | $ | 6,649 |
Electrical and Instrumentation Construction |  | 2,095 |  |  |  | 513 |
American Access Technologies |  | 648 |  |  |  | 961 |
| $ | 11,815 |  |  | $ | 8,123 |
Income (loss) from domestic operations and net equity income from foreign joint ventures’ operations |  |  |  |  |  |  |
Technical Products and Services | $ | 8,061 |  |  | $ | 6,012 |
Electrical and Instrumentation Construction |  | 2,096 |  |  |  | 513 |
American Access Technologies |  | (712 | ) |  |  | (484 | )
Corporate and other unallocated expenses |  | (6,995 | ) |  |  | (5,622 | )
Income (loss) from domestic operations |  | 2,450 |  |  |  | 419 |
Equity income from BOMAY |  | 2,066 |  |  |  | 2,569 |
Equity income from MIEFE |  | 115 |  |  |  | 16 |
Equity income (loss) from AAG |  | 843 |  |  |  | 503 |
Foreign operations expenses |  | (267 | ) |  |  | (343 | )
Net equity income from foreign joint ventures’ operations |  | 2,757 |  |  |  | 2,745 |
Income (loss) from domestic operations and net equity income from foreign joint ventures’ operations | $ | 5,207 |  |  | $ | 3,164 |
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. Corporate and other 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 following table reflects the quarterly information for the applicable time periods.
| 2013 |
|  | Q1 |  |  |  | Q2 |  |  |  | Q3 |  |  |  | Q4 |  |  |  | Total |
Net Sales | $ | 14,430 |  |  | $ | 15,169 |  |  | $ | 17,585 |  |  | $ | 18,146 |  |  | $ | 65,330 |
Gross Profit |  | 2,980 |  |  |  | 2,396 |  |  |  | 2,867 |  |  |  | 3,572 |  |  |  | 11,815 |
Net income (loss) |  | 1,653 |  |  |  | 1,063 |  |  |  | 901 |  |  |  | 592 |  |  |  | 4,209 |
Earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.21 |  |  | $ | 0.13 |  |  | $ | 0.11 |  |  | $ | 0.07 |  |  | $ | 0.53 |
| 2012 |
|  | Q1 |  |  |  | Q2 |  |  |  | Q3 |  |  |  | Q4 |  |  |  | Total |
Net Sales | $ | 14,432 |  |  | $ | 12,872 |  |  | $ | 11,725 |  |  | $ | 15,035 |  |  | $ | 54,065 |
Gross Profit |  | 1,772 |  |  |  | 2,172 |  |  |  | 1,689 |  |  |  | 2,490 |  |  |  | 8,123 |
Net income (loss) |  | 334 |  |  |  | 761 |  |  |  | 500 |  |  |  | 487 |  |  |  | 2,084 |
Earnings (loss) per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.04 |  |  | $ | 0.10 |  |  | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.26 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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