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SEGMENT INFORMATION | 9 Months Ended
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Dec. 31, 2023
SEGMENT INFORMATION. |
SEGMENT INFORMATION | NOTE 15 – SEGMENT INFORMATION The Company has two wholly owned subsidiaries, Ranor and Stadco, that are reportable segments. The accounting policies of the segments are the same as those described in the summary of significant accounting policies. All of 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 precision industrial customers. However, both segments have separate operating, engineering, and sales teams. The CODM, or our Chief Executive Officer, 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended
​ | ​ | Decemebr 31, | ​ | Decemebr 31
​ |  | 2023 |  | 2022 |  | 2023 |  | 2022
Net Sales | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ranor | ​ | $ | 4,296,471 | ​ | $ | 4,735,459 | ​ | $ | 13,291,315 | ​ | $ | 14,395,043
Stadco | ​ |  | 3,369,497 | ​ |  | 3,591,886 | ​ | ​ | 9,942,644 | ​ | ​ | 9,531,306
Intersegment elimination | ​ | ​ | (16,305) | ​ | ​ | — | ​ | ​ | (242,970) | ​ | ​ | —
Net sales from external customers | ​ | ​ | 7,649,663 | ​ | ​ | 8,327,345 | ​ | ​ | 22,990,989 | ​ | ​ | 23,926,349
Operating (loss) income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ranor | ​ |  | 1,014,681 | ​ |  | 1,334,565 | ​ | ​ | 2,561,885 | ​ | ​ | 4,077,962
Stadco | ​ |  | (514,067) | ​ |  | (561,291) | ​ | ​ | (1,741,331) | ​ | ​ | (2,775,382)
Corporate and unallocated (1) (2) | ​ | ​ | (1,496,676) | ​ | ​ | (498,959) | ​ | ​ | (2,993,769) | ​ | ​ | (1,673,697)
Total operating (loss) income | ​ | ​ | (996,062) | ​ | ​ | 274,315 | ​ | ​ | (2,173,215) | ​ | ​ | (371,117)
ERTC refundable credits | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 624,045
Other income | ​ | ​ | 1 | ​ | ​ | 254 | ​ | ​ | 40,877 | ​ | ​ | 40,590
Interest expense | ​ |  | (109,503) | ​ |  | (93,603) | ​ | ​ | (352,142) | ​ | ​ | (260,978)
Consolidated (loss) income before income taxes | ​ | $ | (1,105,564) | ​ | $ | 180,966 | ​ | $ | (2,484,480) | ​ | $ | 32,540
Depreciation and amortization: | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ranor | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 481,029 | ​ | $ | 391,172
Stadco | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 1,277,896 | ​ |  | 1,275,569
Totals | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 1,758,925 | ​ | $ | 1,666,741
Capital expenditures | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​
Ranor | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 2,755,886 | ​ | $ | 175,873
Stadco | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 26,460 | ​ |  | 487,160
Totals | ​ | ​ | ​ | ​ | ​ | ​ | ​ | $ | 2,782,346 | ​ | $ | 663,033
(1) | Corporate general costs include executive and director compensation, and other corporate administrative expenses not allocated to the segments. Prior period segment data is revised to reflect current period updates to unallocated corporate administrative expense.
(2) | For the three and nine months ended December 31, 2023, includes $1.0 million of expenditures for outside advisory services in connection with a potential acquisition.

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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://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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