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BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

12. BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION

 

The Company follows ASC 280 - Segment Reporting in determining its reportable segments. The Company considered the way its management team, most notably its chief operating decision maker, makes operating decisions and assesses performance and considered which components of the Company’s enterprise have discrete financial information available. As the Company makes decisions using a manufactured products vs. distributed products and services group focus, its analysis resulted in two reportable segments: T&D Solutions and Critical Power. The Critical Power reportable segment is the Company’s Titan Energy Systems, Inc. business unit. The T&D Solutions reportable segment is the Company’s Pioneer Custom Electrical Products Corp. business unit, together with sales and expenses attributable to the strategic sales group for its T&D Solutions marketing activities.

 

The T&D Solutions segment is involved in the design, manufacture and distribution of switchgear used primarily by large industrial and commercial operations to manage their electrical power distribution needs. The Critical Power segment provides new and used power generation equipment and aftermarket field-services primarily to help customers ensure smooth, uninterrupted power to operations during times of emergency.

 

The following tables present information about segment income and loss:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

T&D Solutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Switchgear

 

$

3,596

 

 

$

2,987

 

 

$

4,983

 

 

$

5,864

 

 

 

 

3,596

 

 

 

2,987

 

 

 

4,983

 

 

 

5,864

 

Critical Power Solutions

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equipment

 

 

159

 

 

 

225

 

 

 

685

 

 

 

480

 

Service

 

 

1,870

 

 

 

1,875

 

 

 

3,459

 

 

 

3,744

 

 

 

 

2,029

 

 

 

2,100

 

 

 

4,144

 

 

 

4,224

 

Consolidated

 

$

5,625

 

 

$

5,087

 

 

$

9,127

 

 

$

10,088

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Depreciation and amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

T&D Solutions

 

$

18

 

 

$

33

 

 

$

35

 

 

$

68

 

Critical Power Solutions

 

 

62

 

 

 

84

 

 

 

181

 

 

 

163

 

Unallocated corporate overhead expenses

 

 

7

 

 

 

8

 

 

 

14

 

 

 

17

 

Consolidated

 

$

87

 

 

$

125

 

 

$

230

 

 

$

248

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Operating loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

T&D Solutions

 

$

(125

)

 

$

(626

)

 

$

(564

)

 

$

(1,403

)

Critical Power Solutions

 

 

(42

)

 

 

(199

)

 

 

(126

)

 

 

(399

)

Unallocated corporate overhead expenses

 

 

(578

)

 

 

(359

)

 

 

(1,162

)

 

 

(1,130

)

Consolidated

 

$

(745

)

 

$

(1,184

)

 

$

(1,852

)

 

$

(2,932

)

 

Revenues are attributable to countries based on the location of the Company’s customers:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

5,625

 

 

$

5,087

 

 

$

9,127

 

 

$

10,088