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Note 12 - Segment Reporting
 3 Months Ended
Mar. 29, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(12)  Segment Reporting

 

The Company views its operations and manages its business as one segment. The Company produces and sells advanced material solutions, primarily metal matrix composites, to assemblers of high density electronics and other specialty components and subassemblies. The Company also assembles housings and packages for hybrid circuits, selling to the same customers mentioned above. These customers represent a single market or segment with similar stringent and well-defined requirements. The Company’s customers, in turn, sell the components and subassemblies which incorporate the products into many different end markets, however, these end markets are two to three levels removed from the Company. The Company also sells armor strike faces to armor manufacturers, using the same manufacturing process used in its other product solutions. The Company makes operating decisions and assesses financial performance only for the Company as a whole and does not make operating decisions or assess financial performance by the end markets which ultimately use the products.  Our chief operating decision maker (CODM) is Brian Mackey, our President and CEO.  The Company's CODM regularly reviews financial information presented and does not evaluate the Company's operating segment using asset or liability information. Instead, the CODM uses revenue, gross margin, and net income or loss to allocate operating and capital resources and assess performance by comparing actual results to historical results and previously forecasted financial information.

 

The following table presents segment information for the Company's single reporting segment:

 

      March 29, 2025       March 30, 2024  

Product sales

   $ 7,505,921     $ 5,912,634  
                 

Cost of product sales

     6,274,920       5,006,324  

Gross profit

     1,231,001       906,310  
                 

Selling, general, and administrative expenses

     1,101,350       1,165,922  

Income (loss) from operations

     129,651       (259,612 )
                 

Other income

     50,476       79,171  

Income (loss) before income tax

     180,127       (180,441 )

Income tax provision (benefit)

     84,165       (37,288 )

Net income (loss)

   $ 95,962     $ (143,153 )