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Note 11 - Segment Reporting
 6 Months Ended
Jun. 30, 2022
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

NOTE 11:          SEGMENT REPORTING

 

The Company operates through three segments: CVD Equipment (“CVD”), Stainless Design Concepts (“SDC”) and CVD Materials (“Materials”). The CVD segment manufactures and sells chemical vapor deposition equipment. SDC is the Company’s ultra-high purity manufacturing division for gas control systems. The Materials segment provides 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 (loss) before taxes.

 

The Company’s corporate administration activities are reported in the Eliminations and Unallocated column. These activities primarily include the elimination of intercompany sales and 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 June 30,

(In thousands)

 

              

Eliminations* and

     

2022

 

CVD

  

SDC

  

Materials

  

Unallocated

  

Consolidated

 

Assets

 $23,661  $8,474  $1,913  $68  $34,116 
                     

Revenue

  3,782   1,591   816   (380)  5,809 

Operating (loss) income

  (469)  227   143   (758)  (857)

Pretax (loss) income

  (451)  227   143   (758)  (839)
                     

2021

                    

Assets

 $28,149  $6,765  $3,940  $66  $38,920 
                     

Revenue

  1,804   1,162   1,087   (19)  4,034 

Operating (loss) income

  (1,220)  368   503   (734)  (1,083)

Pretax (loss) income

  1,209   368   628   (734)  1,471 

 

 

Six Months Ended June 30,

(In thousands)

 

              

Eliminations* and

     

2022

 

CVD

  

SDC

  

Materials

  

Unallocated

  

Consolidated

 
                     

Revenue

  6,607   3,006   1,273   (425)  10,461 

Operating (loss) income

  (1,236)  670   137   (1,438)  (1,867)

Pretax (loss) income

  (1,204)  670   136   (1.438)  (1,836)
                     

2021

                    
                     

Revenue

  3,811   1,987   1,716   (114)  7,400 

Operating (loss) income

  (1,753)  363   392   (1,704)  (2,702)

Pretax (loss) income

  661   363   646   (1,704)  (34)

 

 

 

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

 

Intersegment sales for the three months ended June 30, 2022 and 2021 by the SDC segment to the CVD Equipment segment were $.4 million and $.02 million, respectively. Intersegment sales for the six months ended June 30, 2022 and 2021 by the SDC segment to the CVD Equipment segment were $.4 million and $.1 million, respectively.