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Segment Reporting

6 Months Ended

Jun. 30, 2024

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 for the periods presented is as follows:

	Fastener	Assembly Equipment	Unallocated Corporate	Consolidated
Three Months Ended June 30, 2024:
Net sales	$     6,909,550	$   1,149,927	0	$      8,059,477
Depreciation	291,994	29,484	540	322,018
Segment operating profit	488,412	363,920	0	852,332
Selling and administrative expenses	0	0	(743,488)	(743,488)
Interest income	0	0	44,670	44,670
Income before income taxes				$        153,514
Capital expenditures	65,005	240,573	0	305,578
Segment assets:
Accounts receivable, net	4,870,471	522,481	0	5,392,952
Inventories, net	5,378,034	1,559,660	0	6,937,694
Property, plant and equipment, net	8,932,993	1,406,272	1,019,593	11,358,858
Other assets	0	0	3,636,914	3,636,914
				$    27,326,418
Three Months Ended June 30, 2023:
Net sales	$     7,361,113	$     689,818	0	$     8,050,931
Depreciation	272,679	30,732	2,664	306,075
Segment operating profit (loss)	(1,093,218)	87,166	0	(1,006,052)
Selling and administrative expenses	0	0	(681,199)	(681,199)
Interest income	0	0	21,745	21,745
Loss before income taxes				$   (1,665,506)
Capital expenditures	406,629	0	(59,800)	346,829
Segment assets:
Accounts receivable, net	5,543,477	360,924	0	5,904,401
Inventories, net	7,940,159	1,483,084	0	9,423,243
Property, plant and equipment, net	9,759,709	1,242,033	1,008,192	12,009,934
Other assets	0	0	4,625,285	4,625,285
				$    31,962,863
Six Months Ended June 30, 2024:
Net sales	$   13,633,404	$   2,279,254	0	$   15,912,658
Depreciation	585,375	58,968	1,080	645,423
Segment operating profit	99,288	686,541	0	785,829
Selling and administrative expenses	0	0	(1,580,288)	(1,580,288)
Interest income	0	0	73,139	73,139
Loss before income taxes				$    (721,320)
Capital expenditures	119,227	279,436	0	398,663
Six Months Ended June 30, 2023:
Net sales	$   15,217,926	$   1,562,730	0	$   16,780,656
Depreciation	545,315	61,464	5,328	612,107
Segment operating profit (loss)	(1,521,719)	276,481	0	(1,245,238)
Selling and administrative expenses	0	0	(1,219,736)	(1,219,736)
Interest income	0	0	62,331	62,331
Loss before income taxes				$    (2,402,643)
Capital expenditures	742,695	0	17,553	760,248

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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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