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Segment Reporting

6 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Reporting

NOTE 6— SEGMENT REPORTING

As of June 30, 2019, the Company operates in two reportable operating segments, both of which are performed though the Company’s OmniMetrix subsidiary:

	●	The PG (Power Generation) segment provides wireless remote monitoring and control systems and services for critical assets as well as Internet of Things applications.
	●	The CP (Cathodic Protection) segment provides for remote monitoring of cathodic protection systems on gas pipelines for gas utilities and pipeline companies.

The Company’s reportable segments are strategic business units, offering different products and services and are managed separately as each business requires different technology and marketing strategies.

The following tables represent segmented data for the six- and three-month periods ended June 30, 2019 and June 30, 2018:

		PG				CP				Total
Six months ended June 30, 2019:
Revenues from external customers		$	2,053			$	651			$	2,704
Segment gross profit			1,434				288				1,722
Depreciation and amortization			25				9				34
Segment income(loss) before income taxes		$	105			$	(134	)		$	(29	)
Six months ended June 30, 2018:
Revenues from external customers		$	1,767			$	672			$	2,439
Segment gross profit			1,181				300				1,481
Depreciation and amortization			24				9				33
Segment loss before income taxes		$	(39	)		$	(155	)		$	(194	)
Three months ended June 30, 2019:
Revenues from external customers		$	1,057			$	320			$	1,377
Segment gross profit			748				153				901
Depreciation and amortization			5				2				7
Segment income(loss) before income taxes		$	82			$	(49	)		$	33
Three months ended June 30, 2018:
Revenues from external customers		$	881			$	349			$	1,230
Segment gross profit			593				143				736
Depreciation and amortization			12				4				16
Segment loss before income taxes		$	(18	)		$	(92	)		$	(110	)

The gross profit of the PG segment during the six months ended June 30, 2019 included a $30 accrual, which unfavorably impacted gross margin by 1%. The accrual was for an estimated payment of approximately $30 related to a long-term purchase commitment of what is now discontinued technology that has been replaced with upgraded technology. This adjustment is recorded in cost of sales – other.

The Company does not currently break out total assets by reportable segment as there is a high level of shared utilization between the segments. Further, the Chief Decision Maker (CDM) does not review the assets by segment.

Reconciliation of Segment Loss to Consolidated Net Loss Before Income Taxes

		Six months ended June 30,								Three months ended June 30,
		2019				2018				2019				2018
Total net loss before income taxes for reportable segments		$	(29	)		$	(194	)		$	33			$	(110	)
Unallocated cost of corporate headquarters			(436	)			(797	)			(237	)			(461	)
Consolidated loss before income taxes		$	(465	)		$	(991	)		$	(204	)		$	(571	)

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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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