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SEGMENT INFORMATION | 12 Months Ended
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Mar. 31, 2024
SEGMENT INFORMATION. |
SEGMENT INFORMATION | NOTE 16 – SEGMENT INFORMATION The Company has two wholly owned subsidiaries, Ranor and Stadco that are each reportable segments. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. All the Company’s operations, assets, and customers are located in the U.S. Each reportable segment focuses on the manufacture and assembly of specific components, primarily for defense, aerospace and other industrial customers. However, both segments have separate operating, engineering, and sales teams. The Chief Operating Decision Maker, or CODM, evaluates the performance of our segments based upon, among other things, segment net sales and operating profit. Segment operating profit excludes general corporate costs. Corporate costs include executive and director compensation, stock-based compensation, and other corporate and administrative expenses not allocated to the segments. The segment operating profit metric is what the CODM uses in evaluating our results of operations and the financial measure that provides insight into our overall performance and financial position. The following table provides summarized financial information for our segments: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | March 31, 2024 |  | March 31, 2023
Ranor | ​ | $ | 17,820,542 | ​ | $ | 19,181,539
Stadco | ​ |  | 14,567,287 | ​ |  | 12,250,075
Eliminate intersegment revenue | ​ |  | (796,770) | ​ |  | —
Net sales from external customers | ​ | $ | 31,591,059 | ​ | $ | 31,431,614
Ranor operating income | ​ |  | 3,070,440 | ​ |  | 5,328,186
Stadco operating loss | ​ |  | (1,981,316) | ​ |  | (3,905,324)
Corporate and unallocated (1) | ​ | ​ | (5,721,324) | ​ | ​ | (2,528,082)
Operating loss | ​ | $ | (4,632,200) | ​ | $ | (1,105,220)
Interest expense, net | ​ |  | (521,108) | ​ |  | (355,608)
Refundable employee retention tax credits | ​ |  | -- | ​ |  | 636,564
Other income | ​ |  | 43,363 | ​ |  | 40,842
Consolidated loss before income taxes | ​ | $ | (5,109,945) | ​ | $ | (783,422)
Assets | ​ |  | ​ | ​ |  | ​
Ranor | ​ |  | 11,972,805 | ​ |  | 11,350,905
Stadco | ​ |  | 22,420,276 | ​ |  | 23,817,425
Corporate and unallocated | ​ |  | 353,614 | ​ |  | 1,039,411
Totals | ​ | $ | 34,746,695 | ​ | $ | 36,207,741
Depreciation and amortization | ​ |  | ​ | ​ |  | ​
Ranor | ​ |  | 700,499 | ​ |  | 523,683
Stadco | ​ |  | 1,728,878 | ​ |  | 1,693,789
Totals | ​ | $ | 2,429,377 | ​ | $ | 2,217,472
Capital expenditures | ​ |  | ​ | ​ |  | ​
Ranor | ​ |  | 3,197,668 | ​ |  | 1,599,966
Stadco | ​ |  | 32,569 | ​ |  | 725,335
Totals | ​ | $ | 3,230,237 | ​ | $ | 2,325,301
(1) Corporate general costs include executive and director compensation, and other corporate administrative expenses not allocated to the segments. Prior period segment data is restated to reflect changes in corporate and administrative expenses not allocated to the segments.

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- Definition The entire disclosure for reporting segments including data and tables. 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