| Segment Information |
NOTE 8 – SEGMENT INFORMATION
The Company classifies its businesses into four segments as follows:
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Suttle manufactures and sells U.S. standard modular connecting and wiring devices for voice and data communications, digital subscriber line filters, and structured wiring systems;
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Transition Networks designs and markets data transmission, computer network and media conversion products;
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JDL Technologies, Inc. provides IT services including network design, computer infrastructure installations, IT service management, change management, network security and network operations services;
- Austin Taylor Communications LTD manufactures British-standard telephone equipment and equipment enclosures for the U.K and international markets.
Our non-allocated corporate general and administrative expenses are categorized as "Other" in the Company's segment reporting. Management has chosen to organize the enterprise and disclose reportable segments based on our products and services. There are no material inter-segment revenues.
Information concerning the Company's continuing operations in the various segments for the three and six month periods ended June 30, 2011 and 2010 is as follows:
| SEGMENT INFORMATION - THREE MONTHS |
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|
Transition |
JDL |
Austin |
|
|
| |
Suttle |
Networks |
Technologies |
Taylor |
Other |
Total |
| Three months ended June 30, 2011: |
|
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|
| Sales |
$ 8,286,632 |
$ 32,377,988 |
$ 4,001,982 |
$ 763,082 |
$ - |
$ 45,429,684 |
| Cost of sales |
6,302,980 |
17,839,905 |
2,124,650 |
706,564 |
- |
$ 26,974,099 |
| Gross profit |
1,983,652 |
14,538,083 |
1,877,332 |
56,518 |
- |
18,455,585 |
| Selling, general and |
|
|
|
|
|
|
| administrative expenses |
1,618,008 |
5,896,959 |
488,125 |
304,700 |
1,622,968 |
$ 9,930,760 |
| Goodwill impairment |
1,271,986 |
- |
- |
- |
- |
$ 1,271,986 |
| Operating income (loss) |
$ (906,342) |
$ 8,641,124 |
$ 1,389,207 |
$ (248,182) |
$ (1,622,968) |
$ 7,252,839 |
| |
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|
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| Depreciation and amortization |
$ 244,648 |
$ 174,606 |
$ 28,818 |
$ 12,232 |
$ 74,614 |
$ 534,918 |
| |
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| Capital expenditures |
$ 350,176 |
$ 159,554 |
$ 1,324 |
$ 5,212 |
$ 9,043 |
$ 525,309 |
| |
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|
| Assets at June 30, 2011 |
$ 20,789,510 |
$ 46,946,405 |
$ 3,936,889 |
$ 2,417,877 |
$ 41,940,702 |
$ 116,031,383 |
| |
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|
Transition |
JDL |
Austin |
|
|
| |
Suttle |
Networks |
Technologies |
Taylor |
Other |
Total |
| Three months ended June 30, 2010: |
|
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|
|
| Sales |
$ 9,125,155 |
$ 17,119,199 |
$ 3,625,136 |
$ 789,334 |
$ - |
$ 30,658,824 |
| Cost of sales |
6,701,710 |
7,954,859 |
1,961,387 |
756,860 |
- |
$ 17,374,816 |
| Gross profit |
2,423,445 |
9,164,340 |
1,663,749 |
32,474 |
- |
13,284,008 |
| Selling, general and |
|
|
|
|
|
|
| administrative expenses |
1,845,771 |
5,426,073 |
321,152 |
280,209 |
1,218,880 |
$ 9,092,085 |
| Operating income (loss) |
$ 577,674 |
$ 3,738,267 |
$ 1,342,597 |
$ (247,735) |
$ (1,218,880) |
$ 4,191,923 |
| |
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|
|
|
| Depreciation and amortization |
$ 218,806 |
$ 151,238 |
$ 38,889 |
$ 8,525 |
$ 73,875 |
$ 491,333 |
| |
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| Capital expenditures |
$ 41,016 |
$ 252,660 |
$ 5,160 |
$ - |
$ 41,040 |
$ 339,876 |
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|
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| Assets at June 30, 2010 |
$ 20,814,871 |
$ 28,183,814 |
$ 5,514,242 |
$ 3,690,063 |
$ 45,707,503 |
$ 103,910,493 |
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