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Segment Information

9 Months Ended

Jun. 30, 2019

Segment Reporting [Abstract]

Segment Information

NOTE 4 – 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 nine months ended
		June 30,								June 30,
		2019				2018				2019				2018
Revenues from external customers
Advanced Technologies			6,528,484				300,338			$	13,924,097			$	931,009
Electronics Manufacturing			11,003,706				11,216,531				33,130,143				41,874,472
Industrial Technology			4,919,860				7,647,445				16,289,851				29,154,029
Total revenues			22,452,050				19,164,314			$	63,344,091			$	71,959,510
Gross profit
Advanced Technologies			2,528,338				63,539			$	5,831,813			$	545,098
Electronics Manufacturing			4,470,216				4,694,457				13,579,805				15,938,503
Industrial Technology			1,573,022				2,505,419				5,604,472				8,811,636
Total gross profit			8,571,576				7,263,415			$	25,016,090			$	25,295,237
Operating (loss) income
Advanced Technologies			(391,053	)			(1,344,211	)		$	(4,058,782	)		$	(1,154,348	)
Electronics Manufacturing			91,175				370,696				(69,703	)			644,845
Industrial Technology			(163,944	)			(257,268	)			(934,125	)			309,934
Total operating (loss) income			(463,822	)			(1,230,783	)		$	(5,062,610	)		$	(199,569	)
Other income (expense)
Advanced Technologies			(351,466	)			18			$	(545,851	)		$	8,061
Electronics Manufacturing			11,983				(310,296	)			(33,989	)			(39,127	)
Industrial Technology			(1,821,961	)			(263,145	)			(2,263,211	)			(316,472	)
Total other income (expense)			(2,161,444	)			(573,423	)		$	(2,843,051	)		$	(347,538	)
Depreciation and Amortization
Advanced Technologies			245,248				-			$	1,112,240			$	-
Electronics Manufacturing			705,611				425,904				1,529,309				1,300,828
Industrial Technology			548,200				473,029				1,492,414				1,282,817
Total depreciation and amortization			1,499,059				898,933			$	4,133,963			$	2,583,645

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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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