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Segment Information

6 Months Ended

Mar. 31, 2019

Segment Reporting [Abstract]

Segment Information

NOTE 5 – SEGMENT 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 three months ended								For the six months ended
		March 31,								March 31,
		2019				2018				2019				2018
Revenues from external customers
Advanced Technologies			6,927,778				-			$	7,395,613			$	-
Electronics Manufacturing			11,100,184				10,845,511				22,126,437				31,288,612
Industrial Technology			5,579,535				9,567,785				11,369,991				21,506,584
Total revenues			23,607,497				20,413,296			$	40,892,041			$	52,795,196
Gross profit
Advanced Technologies			3,028,005				-			$	3,303,475			$	-
Electronics Manufacturing			4,595,665				4,807,400				9,109,589				11,601,585
Industrial Technology			1,825,722				3,036,871				4,031,450				6,306,217
Total gross profit			9,449,392				7,844,271			$	16,444,514			$	17,907,802
Operating (loss) income
Advanced Technologies			(2,437,421	)			-			$	(3,667,729	)		$	-
Electronics Manufacturing			26,296				(82,348	)			(160,878	)			464,012
Industrial Technology			(563,094	)			245,871				(770,181	)			567,202
Total operating (loss) income			(2,974,219	)			163,523			$	(4,598,788	)		$	1,031,214
Other income (expense)
Advanced Technologies			(194,225	)			-			$	(194,385	)		$	-
Electronics Manufacturing			(29,694	)			263,361				(45,972	)			122,159
Industrial Technology			(315,584	)			39,218				(441,250	)			103,726
Total other income (expense)			(539,503	)			302,579			$	(681,607	)		$	225,885
Depreciation and Amortization
Advanced Technologies			346,450				-			$	866,992			$	-
Electronics Manufacturing			542,737				476,042				823,698				912,042
Industrial Technology			668,455				403,933				944,214				809,788
Total depreciation and amortization			1,557,642				879,975			$	2,634,904			$	1,721,830

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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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