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Segment Reporting

9 Months Ended

Sep. 30, 2021

Notes

Segment Reporting

7.  Segment Information—The Company operates in two business segments as determined by its products.  The fastener segment includes rivets, cold-formed fasteners and parts and screw machine products.  The assembly equipment segment includes automatic rivet setting machines and parts and tools for such machines.

Information by segment is as follows:

	Fastener	Assembly Equipment	Other	Consolidated
Three Months Ended September 30, 2021:
Net sales	$   7,552,619	$   1,003,112	0	$   8,555,731
Depreciation	291,512	33,534	5,448	330,494
Segment operating profit	480,288	215,869	0	696,157
Selling and administrative expenses	0	0	(491,547)	(491,547)
Interest income	0	0	3,049	3,049
Income before income taxes				$      207,659
Capital expenditures	77,007	0	165,395	242,402
Segment assets:
Accounts receivable, net	5,623,045	451,698	0	6,074,743
Inventories, net	6,553,617	1,191,653	0	7,745,270
Property, plant and equipment, net	9,986,600	1,468,262	1,263,290	12,718,152
Other assets	0	0	6,093,884	6,093,884
				$   32,632,049
Three Months Ended September 30, 2020:
Net sales	$   7,024,416	$   620,843	0	$    7,645,259
Depreciation	297,533	32,869	8,377	338,779
Segment operating loss	783,234	103,759	0	886,993
Selling and administrative expenses	0	0	(493,370)	(493,370)
Interest income	0	0	20,512	20,512
Income before income taxes				$        414,135
Capital expenditures	28,165	0	92,140	120,305
Segment assets:
Accounts receivable, net	5,059,552	287,364	0	5,346,916
Inventories, net	3,880,189	1,064,617	0	4,944,806
Property, plant and equipment, net	10,381,970	1,588,157	1,064,667	13,034,794
Other assets	0	0	8,108,571	8,108,571
				$   31,435,087
Nine Months Ended September 30, 2021:
Net sales	$   22,843,341	$  3,381,729	0	$   26,225,070
Depreciation	874,037	100,600	16,346	990,983
Segment operating profit	1,982,084	852,571	0	2,834,655
Selling and administrative expenses	0	0	(1,547,845)	(1,547,845)
Interest income	0	0	17,484	17,484
Income before income taxes				$     1,304,294
Capital expenditures	410,281	0	177,334	587,615
Nine Months Ended September 30, 2020:
Net sales	$   17,275,555	$   2,049,679	0	$   19,325,234
Depreciation	891,177	98,607	25,132	1,014,916
Segment operating profit	533,742	319,340	0	853,082
Selling and administrative expenses	0	0	(1,547,606)	(1,547,606)
Interest income	0	0	79,711	79,711
Loss before income taxes				$     (614,813)
Capital expenditures	225,707	0	149,950	375,657

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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.

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