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Segment Reporting
 12 Months Ended
Dec. 31, 2014
Segment Reporting [Abstract]  
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 two reportable segments: Technical Products and Services (“TP&S”) and Electrical and Instrumentation Construction (“E&I”). 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 table below represents segment results for continuing operations for the years ended December 31, 2014, and 2013.

 

 

2014

 

 

2013

 

Net sales:

 

 

  

  

 

 

 

Technical Products and Services

$

49,967

 

 

$

49,150

 

Electrical and Instrumentation Construction

 

7,287

 

 

 

10,089

 

 

$

57,254

 

 

$

59,239

 

Gross profit (loss):

 

 

 

 

 

 

 

Technical Products and Services

$

4,132

 

 

$

9,072

 

Electrical and Instrumentation Construction

 

863

 

 

 

2,095

 

 

$

4,995

 

 

$

11,167

 

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

 

 

 

 

 

 

 

Technical Products and Services

$

3,177

 

 

$

8,061

 

Electrical and Instrumentation Construction

 

525

 

 

 

2,096

 

Corporate and other unallocated expenses

 

(7,597)

 

 

 

(6,995)

 

Income (loss) from continuing consolidated operations

 

(3,895)

 

 

 

3,162

 

 

 

 

 

 

 

 

 

The Company’s management does not separately review and analyze its assets on a segment basis for TP&S and E&I, 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.