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Note 14 - Segment Reporting
 12 Months Ended
Dec. 31, 2022
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 14 – Segment Reporting

 

The Company operates through three segments: CVD Equipment , Stainless Design Concepts (“SDC”) and CVD Materials . The CVD Equipment segment manufactures and sells chemical vapor deposition, physical vapor transport and similar equipment. SDC manufactures ultra-high purity gas control systems. The CVD 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 “Corporate” column. These activities primarily include 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.

 

Elimination entries included in the “Eliminations” column represent intersegment revenues and cost of revenues that are eliminated in consolidation. Intersegment sales for the year ended December 31, 2022 and 2021 by the SDC segment to the CVD Equipment segment were $573,000 and $346,000, respectively.

 

The following table presents certain information regarding the Company’s segments as of and for the years ended December 31, 2022 and December 31, 2021 (in thousands, including amount in notes):

 

2022

                                                
   

CVD

Equipment

    

SDC

   

CVD

Materials

    

Corporate

   

Eliminations

   

Consolidated

 

Assets

   $ 25,287     $ 9,679     $ 2,946     $ -     $ -     $ 37,912  
                                                 

Revenue

   $ 16,674     $ 6,541     $ 3,171     $ -     $ (573 )   $ 25,813  

Operating (loss) income

     (1,430 )     1,546       1,050       (2,989 )     -       (1,823 )

Pretax (loss) income (1)

     (156 )     1,849       1,076       (2,989 )     -       (220 )

Depreciation and amortization

   $ 652     $ 49     $ 166     $ -     $ -     $ 867  

Purchases of property, plant & equipment

   $ 623     $ 3     $ 39     $ -     $ -     $ 665  

 

2021

                                                
   

CVD

Equipment

   

SDC

   

CVD

Materials

   

Corporate

   

Eliminations

   

Consolidated

 

Assets

   $ 26,360     $ 7,409     $ 1,755     $ -     $ -     $ 35,524  
                                                 

Revenue

   $ 8,590     $ 4,849     $ 3,354     $ -     $ (346 )   $ 16,447  

Operating (loss) income

     (3,454 )     922       1,053       (3,185 )     -       (4,664 )

Pretax (loss) income

     (1,055 ) (2)     922       8,093 (3)     (3,185 )     -       4,775  

Depreciation and amortization

   $ 533     $ 52     $ 157     $ -     $ -     $ 742  

Purchases of property, plant & equipment

   $ 106     $ 31     $ 99     $ -     $ -     $ 236  

 

 

(1)

Includes other income related to ERCs of $1,103, $303 and $123 for the CVD, SDC and Materials segments, respectively.
 

(2)

Includes $2,443 from the gain on debt extinguishment related to the forgiveness of the PPP loan.
 

(3)

Includes $6,894 from the gain on the sale of building.