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Note 11 - Segment Reporting
 9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 11:          SEGMENT REPORTING

 

The Company operates through three (3) segments: CVD Equipment (“CVD”), Stainless Design Concepts (“SDC”) and CVD Materials (“Materials”). The CVD segment is utilized for chemical vapor deposition equipment manufacturing. SDC is the Company’s ultra-high purity manufacturing division in Saugerties, New York for gas control systems. The Materials segment was established to provide material coatings for aerospace, medical, electronic and other applications. The Company evaluates performance based on several factors, of which the primary financial measure is income or (loss) before taxes.

 

The Company’s corporate administration activities are reported in the Eliminations and Unallocated column. These activities primarily include intercompany profit, expenses related to certain corporate officers and support staff, expenses related to the Company’s Board of Directors, stock option expense for shares granted to corporate administration employees, certain consulting expenses, investor and shareholder relations activities, and all of the Company’s legal, auditing and professional fees, and interest expense.

 

 

Three Months Ended September 30,

(In thousands)

 

              

Eliminations* and

     

2021

 

CVD

  

SDC

  

Materials

  

Unallocated

  

Consolidated

 

Assets

 $27,248  $7,053  $1,655  $2  $35,958 
                     

Revenue

  2,074   1,326   937   (7)  4,330 

Operating (loss) income

  (911)  275   441   (727)  (922)

Pretax (loss) income

  (920)  275   7,373(1)  (727)  6,001 
                     

2020

                    

Assets

 $34,888  $6,202  $5,076  $-  $46,166 
                     

Revenue

  2,308   826   990   (131)  3,993 

Operating loss

  (283)  (111)  (261)  (738)  (1,393)

Pretax loss

  (267)  (111)  (176)  (738)  (1,292)

 

 

Nine Months Ended September 30,

(In thousands)

 

              

Eliminations* and

     

2021

 

CVD

  

SDC

  

Materials

  

Unallocated

  

Consolidated

 
                     

Revenue

  5,884   3,314   2,654   (122)  11,730 

Operating (loss) income

  (2,664)  637   828   (2,425)  (3,624)

Pretax (loss) income

  (259)  637   8,014(1)  (2,425)  5,967 
                     

2020

                    
                     

Revenue

  8,686   3,661   1,791   (390)  13,748 

Operating income (loss)

  10   556   (754)  (2,229)  (2,417)

Pretax income (loss)

  10   564   (642)  (2,229)  (2,297)

 

(1)

The Materials segment includes a gain on the sale of building in the amount of $6,894,109 for the three and nine months ended September 30, 2021.

 

*All elimination entries represent intersegment revenues eliminated in consolidation for external financial reporting.