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Segment Reporting

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segment Reporting

NOTE 9— SEGMENT REPORTING

The Company currently operates in two reportable operating segments, both of which are performed though the Company’s OmniMetrix subsidiary:

● The Power Generation (“PG”) segment provides wireless remote monitoring and control systems and services for critical assets as well as Internet of Things applications.

● The Cathodic Protection (“CP”) segment provides for remote monitoring of cathodic protection systems on gas pipelines for gas utilities and pipeline companies.

The following tables represent segmented data for the six- and three-month periods ended June 30, 2018 and June 30, 2017:

		PG				CP				Total
Six months ended June 30, 2018:
Revenues from external customers		$	1,767			$	672			$	2,439
Intersegment revenues			—				—				—
Segment gross profit			1,181				300				1,481
Depreciation and amortization			24				9				33
Segment loss before income taxes			(39	)			(155	)			(194	)
Six months ended June 30, 2017:
Revenues from external customers		$	1,712			$	429			$	2,141
Intersegment revenues			—				—				—
Segment gross profit			1,018				190				1,208
Depreciation and amortization			32				8				40
Segment loss before income taxes			(274	)			(149	)			(423	)
Three months ended June 30, 2018:
Revenues from external customers		$	881			$	349			$	1,230
Intersegment revenues			—				—				—
Segment gross profit			593				143				736
Depreciation and amortization			12				4				16
Segment loss before income taxes			(18	)			(92	)			(110	)
Three months ended June 30, 2017:
Revenues from external customers		$	814			$	231			$	1,045
Intersegment revenues			—				—				—
Segment gross profit			498				96				594
Depreciation and amortization			16				4				20
Segment loss before income taxes			(129	)			(85	)			(214	)

Reconciliation of Segment Loss to Consolidated Net Loss Before Income Taxes

		Six months ended June 30,								Three months ended June 30,
		2018				2017				2018				2017
Total net loss before income taxes for reportable segments		$	(194	)		$	(423	)		$	(110	)		$	(214	)
Unallocated cost of corporate headquarters			(797	)			(507	)			(461	)			(345	)
Consolidated loss before income taxes			(991	)			(930	)			(571	)			(559	)

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- References

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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