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Segment and Geographic Information

12 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Segment and Geographic Information

NOTE 3 – SEGMENT AND GEOGRAPHIC INFORMATION

The Company reports and evaluates financial information for three segments: Advanced Technologies (AT) segment, the Electronics Manufacturing (EM) segment and the Industrial Technology (IT) segment. The AT segment develops smart devices and provides progressive design and development solutions to create impactful experiences for mobile, web, virtual and augmented reality, wearables and television as well as providing cutting edge, mission critical security and video surveillance. The EM segment provides end to end electronic manufacturing services, which includes product design and sustaining engineering services, printed circuit board assembly and production, cabling and wire harnessing, systems integration, comprehensive testing services and completely assembled electronic products. This segment also sells software development services for mobile, web, virtual reality, and PC applications. The IT segment offers single-source expertise and services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers in USA. The segment also sells a complete line of air filtration and environmental control instruments & products to a wide variety of customers in industries such as: chemical, cement, steel, food, construction, mining, & petrochemical worldwide.

The following tables summarize the Company’s segment information:

		For the year ended
		September 30,
		2018				2017
Revenues form external customers
Advanced Technologies		$	1,765,106			$	-
Electronics Manufacturing			52,530,983				64,058,934
Industrial Technology			35,640,430				56,569,266
Total revenues		$	89,936,519			$	120,628,200
Gross profit
Advanced Technologies		$	1,118,366			$	-
Electronics Manufacturing			20,143,943				23,462,190
Industrial Technology			10,122,948				16,451,362
Total gross profit		$	31,385,257			$	39,913,552
Operating (loss) income
Advanced Technologies		$	(6,529,172	)		$	-
Electronics Manufacturing			234,012				571,167
Industrial Technology			(4,605,505	)			4,544,511
Total operating (loss) income		$	(10,900,665	)		$	5,115,678
Other income (expense)
Advanced Technologies		$	8,346			$	-
Electronics Manufacturing			567,497				(187,266	)
Industrial Technology			(300,796	)			(422,849	)
Total other income (expense)		$	275,047			$	(610,115	)
Depreciation and Amortization
Advanced Technologies		$	573,395			$	-
Electronics Manufacturing			1,797,768				1,697,547
Industrial Technology			1,809,957				1,444,063
Total depreciation and amortization		$	4,181,120			$	3,141,610

		September 30,				September 30,
		2018				2017
Identifiable Assets
Advanced Technologies		$	5,569,383			$	-
Electronics Manufacturing			25,589,642				39,115,299
Industrial Technology			36,171,589				31,066,074
Total Assets		$	67,330,614			$	70,181,373

The Company generates revenue from product sales and services from its subsidiaries located in the United States, Germany, Romania, India, and Hong Kong. Revenue and long-lived asset information for the Company is as follows:

		September 30,				September 30,
Revenues		2018				2017
U.S. Operations		$	25,304,978			$	30,550,870
Non-U.S. Operations			64,631,541				90,077,330
		$	89,936,519			$	120,628,200

		September 30,				September 30,
Long-lived Assets		2018				2017
U.S. Operations		$	6,262,163			$	6,430,210
Non-U.S. Operations			21,038,491				13,688,101
		$	27,300,654			$	20,118,311

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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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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