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SEGMENT REPORTING | 9 Months Ended
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Sep. 30, 2023
Segment Reporting [Abstract] |
SEGMENT REPORTING | NOTE 10: 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. The SDC segment designs and manufactures ultra-high purity gas and chemical delivery control systems. The CVD Materials segment provides material coatings for aerospace, medical, electronic and other applications and is not considered a core business of the Company. See Note 11 for the disposition of the Tantaline subsidiary and planned disposition of the MesoScribe subsidiary which comprise the CVD Materials segment. 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 options and shares of restricted stock granted to corporate administration employees, certain consulting expenses, investor and shareholder relations activities, and all of the Company’s legal, auditing and professional fees. Elimination entries included in the “Eliminations” column represent intersegment revenues and cost of revenues that are eliminated in consolidation. Intersegment sales by the SDC segment to the CVD Equipment segment for the three months ended September 30, 2023 and 2022 were $0.2 million and $72,000, respectively, and $0.6 million and $0.5 million for the nine months ended September 30, 2023 and 2022, respectively. Intersegment sales by the CVD Equipment segment to the SDC segment for the three months and nine months ended September 30, 2023 were $39,000 and $0.1 million, respectively. There were no intersegment sales by the CVD Equipment segment to the SDC segment in 2022. NOTE 10: SEGMENT REPORTING (continued) The following table presents certain information regarding the Company’s segments as of and for the three months ended September 30, 2023 and 2022 (in thousands): SCHEDULE OF SEGMENTS
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | CVD Equipment |  |  | SDC |  |  | CVD Materials |  |  | Eliminations |  |  | Corporate |  |  | Consolidated |
Assets |  | $ | 32,915 |  |  | $ | 4,237 |  |  | $ | 177 |  |  | $ | (102 | ) |  | $ | - |  |  | $ | 37,227 |
Revenue |  | $ | 4,795 |  |  | $ | 1,572 |  |  | $ | 90 |  |  | $ | (223 | ) |  | $ | - |  |  | $ | 6,234 |
Operating (loss) income |  |  | (323 | ) |  |  | 436 |  |  |  | (35 | ) |  |  | (76 | ) |  |  | (992 | ) |  |  | (990 | )
Pretax (loss) income |  |  | (262 | ) |  |  | 434 |  |  |  | (31 | ) |  |  | (76 | ) |  |  | (818 | ) |  |  | (753 | )
Depreciation and amortization |  | $ | 137 |  |  | $ | 12 |  |  | $ | 4 |  |  | $ | - |  |  | $ | - |  |  | $ | 153 |
Purchase of property, plant & equipment |  | $ | 83 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 83 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | CVD Equipment |  |  | SDC |  |  | CVD Materials |  |  | Eliminations |  |  | Corporate |  |  | Consolidated |
Assets |  | $ | 22,415 |  |  | $ | 8,800 |  |  | $ | 2,345 |  |  | $ | 42 |  |  | $ | - |  |  | $ | 33,602 |
Revenue |  | $ | 5,718 |  |  | $ | 1,663 |  |  | $ | 809 |  |  | $ | (71 | ) |  | $ | - |  |  | $ | 8,119 |
Operating (loss) income |  |  | (32 | ) |  |  | 448 |  |  |  | 365 |  |  |  | - |  |  |  | (659 | ) |  |  | 122 |
Pretax (loss) income |  |  | (27 | ) |  |  | 448 |  |  |  | 257 |  |  |  | - |  |  |  | (615 | ) |  |  | 63 |
Depreciation and amortization |  | $ | 107 |  |  | $ | 12 |  |  | $ | 17 |  |  | $ | - |  |  | $ | - |  |  | $ | 136 |
Purchase of property, plant & equipment ** |  | $ | 610 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 610 |
** | Includes $0.4 million of purchased equipment financed with a loan.
NOTE 10: SEGMENT REPORTING (continued) The following table presents certain information regarding the Company’s segments as of and for the nine months ended September 30, 2023 and 2022 (in thousands):
2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | CVD Equipment |  |  | SDC |  |  | CVD Materials |  |  | Eliminations |  |  | Corporate |  |  | Consolidated |
Revenue |  | $ | 13,774 |  |  | $ | 5,679 |  |  | $ | 1,099 |  |  | $ | (554 | ) |  | $ | - |  |  | $ | 19,998 |
Operating (loss) income |  |  | (581 | ) |  |  | 1,430 |  |  |  | (178 | )* |  |  | (104 | ) |  |  | (2,977 | ) |  |  | (2,410 | )
Pretax (loss) income |  |  | (518 | ) |  |  | 1,430 |  |  |  | (126 | )* |  |  | (104 | ) |  |  | (2,577 | ) |  |  | (1,895 | )
Depreciation and amortization |  | $ | 404 |  |  | $ | 36 |  |  | $ | 105 |  |  | $ | - |  |  | $ | - |  |  | $ | 545 |
Purchase of property, plant & equipment |  | $ | 298 |  |  | $ | 10 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 308 |
2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | CVD Equipment |  |  | SDC |  |  | CVD Materials |  |  | Eliminations |  |  | Corporate |  |  | Consolidated |
Revenue |  | $ | 12,324 |  |  | $ | 4,669 |  |  | $ | 2,083 |  |  | $ | (497 | ) |  | $ | - |  |  | $ | 18,579 |
Operating (loss) income |  |  | (1,391 | ) |  |  | 1,117 |  |  |  | 642 |  |  |  | - |  |  |  | (1,970 | ) |  |  | (1,602 | )
Pretax (loss) income |  |  | (1,380 | ) |  |  | 1,117 |  |  |  | 394 |  |  |  | - |  |  |  | (1,903 | ) |  |  | (1,772 | )
Depreciation and amortization |  | $ | 439 |  |  | $ | 37 |  |  | $ | 62 |  |  | $ | - |  |  | $ | - |  |  | $ | 538 |
Purchase of property, plant & equipment ** |  | $ | 1,038 |  |  | $ | 2 |  |  | $ | 30 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,070 |
* | Includes loss on sale of Tantaline of $0.2 million and an impairment charge related to MesoScribe fixed assets of $0.1 million.
** | Includes $0.4 million of purchased equipment financed with a loan.

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