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Segment Information
 12 Months Ended
Mar. 31, 2016
Segment Reporting [Abstract]  
Segment Information

20. Segment Information

 

The Company has three reportable segments: plastic injection molding, electronic products assembling and metallic parts manufacturing. The Company's reportable segments are strategic business units that offer different products and services. They are managed separately because each business requires different technology and marketing strategies. Most of the businesses were acquired as a unit, and the management at the time of the acquisition was retained. During the fourth quarter of fiscal 2015, the Company completed its exit from metallic parts business. See note 10 – discontinued operations for details.

 

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. The Company accounts for intersegment sales and transfers as if the sales or transfers were to third parties, that is, at current market prices.

 

Contributions of the major activities, profitability information and asset information of the Company's reportable segments for the years ended March 31, 2014, 2015 and 2016 are as follows:

 

   Year ended March 31,
   2014  2015  2016
  

Net

sales

 

Intersegment

Sales

  Income (loss) before income tax 

Net

sales

 

Intersegment

Sales

  Income (loss) before income tax 

Net

sales

 

Intersegment

Sales

  Income (loss) before income tax
Segment:                                             
Injection molded plastic parts  $19,918   $580   $(4,517)  $20,206   $(434)  $(341)  $20,181   $(356)  $(2,671)
Electronic products   21,684    90    (1,938)   18,409    (105)   (1,912)   24,847    (104)   (2,105)
Metallic parts (Discontinued in fiscal 2015)   —      —      (411)   1    —      (348)   —      —      —   
Segment total  $41,602   $670   $(6,866)   38,616   $(539)  $(2,601)  $45,028   $(460)  $(4,776)
                                              

Reconciliation to consolidated

totals:

                                             
Sales eliminations   (670)   (670)   —      (539)   539    —      (460)   460    —   
Consolidated totals:                                             
  Net sales   $40,932   $—          $38,077   $—           44,568   $—        
Loss before income taxes            $(6,866)            $(2,601)            $(4,776)

 

   Year ended March 31,
   2014  2015  2016
  

Interest

income

 

Interest

expenses

 

Interest

income

 

Interest

expenses

 

Interest

income

 

Interest

expenses

Segment:                              
Injection molded plastic parts  $495   $—     $509   $—     $364   $—   
Electronic products   101    —      26    —      8    —   
Metallic parts (Discontinued in fiscal 2015)   —      —      —      —      —      —   
Consolidated total  $596   $—     $535   $—     $372   $—   

 

   Year ended March 31,
   2014  2015  2016
  

 

Identifiable

assets

 

 

Capital

expenditure

 

Depreciation

and

amortization

 

 

Identifiable

assets

 

 

Capital

expenditure

 

Depreciation

and

amortization

 

 

Identifiable

assets

 

 

Capital

expenditure

 

Depreciation

and

amortization

Segment:                                             
Injection molded
plastic parts		  $74,328   $200   $3,181   $73,829   $550   $2,384   $67,528   $424   $1,969 
Electronic products   25,911    648    399    22,610    340    415    20,043    167    404 
Metallic parts (Discontinued in fiscal 2015)   397    5    41    —      —      25    —      —      —   

Consolidated Totals

  $100,636   $853   $3,621   $96,439   $890   $2,824   $87,571   $591   $2,373 

 

The Company's sales are coordinated through the Macao subsidiaries and a breakdown of sales by destination is as follows:

 

    Year ended March 31,
    2014   2015   2016
Net sales               
United States of America  $11,081   $9,910   $8,116 
PRC    15,862    16,119    18,785 
United Kingdom   1,721    1,023    1,007 
Hong Kong   3,550    5,505    7,672 
Europe    6,197    3,501    6,403 
Others    2,521    2,018    2,585 
Net sales from continuing operations  $40,932   $38,076   $44,568 
Net sales from discontinued operations   —      1    —   
Total net sales  $40,932   $38,077   $44,568 

 

The location of the Company's identifiable assets is as follows:

 

   March 31,
   2015  2016
Hong Kong and Macao  $29,444   $32,528 
PRC    66,995    55,043 
Total identifiable assets   96,439    87,571 
Goodwill    —      —   
Total assets  $96,439   $87,571