Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.2.0.727
Segment Information
 6 Months Ended
Jun. 30, 2015
Segment Information [Abstract]  
Segment Information

NOTE 11 – SEGMENT INFORMATION

 

The Company classifies its businesses into three segments as follows:

 

·

Suttle manufactures and sells copper and fiber connectivity systems, enclosure systems, xDSL filters and splitters, and active technologies for voice, data and video communications;

·

Transition Networks manufactures and sells media converters, network interface devices (NIDs), network interface cards (NICs), Ethernet switches and other connectivity products that offer the ability to affordably integrate the benefits of fiber optics into any data network; and

·

JDL Technologies provides technology solutions including virtualization, managed services, wired and wireless network design and implementation, HIPAA-compliant IT services, and converged infrastructure configuration and deployment.

 

Management has chosen to organize the enterprise and disclose reportable segments based on our products and services. Intersegment revenues are eliminated upon consolidation.  

 

Information concerning the Company’s continuing operations in the various segments for the three and six-month periods ended June 30, 2015 and 2014 is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transition

 

JDL

 

 

 

Intersegment

 

 

 

 

Suttle

 

Networks

 

Technologies

 

Other

 

Eliminations

 

Total

Three Months Ended June 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

Sales

$
11,788,000 

$
11,915,000 

$
4,718,000 

$

 -

$
(223,000)

$
28,198,000 

Cost of sales

 
9,533,000 

 
6,508,000 

 
3,618,000 

 

 -

 

 -

 
19,659,000 

Gross profit

 
2,255,000 

 
5,407,000 

 
1,100,000 

 

 -

 
(223,000)

 
8,539,000 

Selling, general and

 

 

 

 

 

 

 

 

 

 

 

 

 administrative expenses

 
3,504,000 

 
5,920,000 

 
1,056,000 

 

 -

 
(223,000)

 
10,257,000 

Operating (loss) income

$
(1,249,000)

$
(513,000)

$
44,000 

$

 -

$

 -

$
(1,718,000)

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

$
546,000 

$
267,000 

$
38,000 

$

 -

$

 -

$
851,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

$
518,000 

$
127,000 

$
127,000 

$
30,000 

$

 -

$
802,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

$
41,872,000 

$
26,674,000 

$
4,212,000 

$
24,813,000 

$

 -

$
97,571,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transition

 

JDL

 

 

 

Intersegment

 

 

 

 

Suttle

 

Networks

 

Technologies

 

Other

 

Eliminations

 

Total

Three Months Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

Sales

$
19,006,000 

$
11,567,000 

$
2,636,000 

$

 -

$

 -

$
33,209,000 

Cost of sales

 
12,731,000 

 
6,182,000 

 
2,202,000 

 

 -

 

 -

 
21,115,000 

Gross profit

 
6,275,000 

 
5,385,000 

 
434,000 

 

 -

 

 -

 
12,094,000 

Selling, general and

 

 

 

 

 

 

 

 

 

 

 

 

 administrative expenses

 
3,358,000 

 
5,609,000 

 
721,000 

 

 -

 

 -

 
9,688,000 

Restructuring expense

 

 

 

 -

 

 

 

 

 

 

 

 -

Operating income (loss)

$
2,917,000 

$
(224,000)

$
(287,000)

$

 -

$

 -

$
2,406,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

$
315,000 

$
231,000 

$
37,000 

$

 -

$

 -

$
583,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

$
1,295,000 

$
251,000 

$
8,000 

$
118,000 

$

 -

$
1,672,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets

$
38,304,000 

$
27,507,000 

$
3,520,000 

$
34,468,000 

$

 -

$
103,799,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transition

 

JDL

 

 

 

Intersegment

 

 

 

 

Suttle

 

Networks

 

Technologies

 

Other

 

Eliminations

 

Total

Six Months Ended June 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

Sales

$
22,378,000 

$
20,005,000 

$
5,583,000 

$

 -

$
(223,000)

$
47,743,000 

Cost of sales

 
18,682,000 

 
11,193,000 

 
4,442,000 

 

 -

 

 -

 
34,317,000 

Gross profit

 
3,696,000 

 
8,812,000 

 
1,141,000 

 

 -

 
(223,000)

 
13,426,000 

Selling, general and

 

 

 

 

 

 

 

 

 

 

 

 

 administrative expenses

 
7,810,000 

 
11,382,000 

 
1,866,000 

 

 -

 
(223,000)

 
20,835,000 

Operating loss

$
(4,114,000)

$
(2,570,000)

$
(725,000)

$

 -

$

 -

$
(7,409,000)

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

$
1,053,000 

$
514,000 

$
66,000 

$

 -

$

 -

$
1,633,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

$
1,167,000 

$
213,000 

$
170,000 

$
105,000 

$

 -

$
1,655,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Transition

 

JDL

 

 

 

Intersegment

 

 

 

 

Suttle

 

Networks

 

Technologies

 

Other

 

Eliminations

 

Total

Six Months Ended June 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

Sales

$
31,888,000 

$
21,317,000 

$
5,202,000 

$

 -

$

 -

$
58,407,000 

Cost of sales

 
22,123,000 

 
11,224,000 

 
3,978,000 

 

 -

 

 -

 
37,325,000 

Gross profit

 
9,765,000 

 
10,093,000 

 
1,224,000 

 

 -

 

 -

 
21,082,000 

Selling, general and

 

 

 

 

 

 

 

 

 

 

 

 

 administrative expenses

 
6,496,000 

 
10,789,000 

 
1,405,000 

 

 -

 

 -

 
18,690,000 

Restructuring expense

 

 

 
238,000 

 

 

 

 

 

 

 
238,000 

Operating income (loss)

$
3,269,000 

$
(934,000)

$
(181,000)

$

 -

$

 -

$
2,154,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and amortization

$
608,000 

$
461,000 

$
74,000 

$

 -

$

 -

$
1,143,000 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures

$
1,922,000 

$
359,000 

$
18,000 

$
196,000 

$

 -

$
2,495,000