| Segment Information |
NOTE 9 – SEGMENT INFORMATION
The Company classifies its businesses into three segments as follows:
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·
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Suttle manufactures and markets copper and fiber connectivity systems, enclosure systems, xDSL filters and splitters, and active technologies for voice, data and video communications;
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·
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Transition Networks manufactures network interface devices (NIDs), media converters, 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
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·
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JDL Technologies provides technology solutions including virtualization, managed services, wired and wireless network design and implementation services, and converged infrastructure configuration and deployment.
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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 nine-month periods ended September 30, 2013 and 2012 is as follows:
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Transition
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JDL
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Suttle
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Networks
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Technologies
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Other
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Total
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Three Months Ended September 30, 2013
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Sales
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$
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14,838,164
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$
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10,881,569
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$
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18,897,140
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$
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-
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$
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44,616,873
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Cost of sales
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9,861,311
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5,716,712
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15,415,663
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-
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30,993,686
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Gross profit
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4,976,853
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5,164,857
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3,481,477
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-
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13,623,187
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Selling, general and
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administrative expenses
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2,556,650
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4,598,906
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704,908
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1,608,508
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9,468,972
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Impairment
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5,849,853
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-
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5,849,853
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Operating income (loss)
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$
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2,420,203
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$
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(5,283,902)
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$
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2,776,569
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$
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(1,608,508)
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$
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(1,695,638)
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Depreciation and amortization
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$
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213,253
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$
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196,631
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$
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13,126
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$
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146,140
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$
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569,150
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Capital expenditures
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$
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338,414
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$
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251,757
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$
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-
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$
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80,306
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$
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670,477
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Assets
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$
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29,786,727
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$
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28,702,749
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$
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21,711,436
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$
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24,650,614
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$
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104,851,526
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Transition
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JDL
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Suttle
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Networks
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Technologies
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Other
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Total
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Three Months Ended September 30, 2012
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Sales
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$
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12,242,334
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$
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13,647,047
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$
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2,798,306
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$
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-
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$
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28,687,687
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Cost of sales
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8,915,366
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6,983,935
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2,028,513
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-
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17,927,814
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Gross profit
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3,326,968
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6,663,112
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769,793
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-
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10,759,873
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Selling, general and
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administrative expenses
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2,318,165
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5,365,325
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564,401
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805,273
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9,053,164
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Operating income (loss)
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$
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1,008,803
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$
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1,297,787
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$
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205,392
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$
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(805,273)
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$
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1,706,709
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Depreciation and amortization
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$
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216,232
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$
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198,411
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$
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25,798
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$
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72,192
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$
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512,633
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Capital expenditures
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$
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292,674
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$
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117,695
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$
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9,545
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$
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414,399
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$
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834,313
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Assets
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$
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28,126,173
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$
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36,413,632
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$
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2,562,750
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$
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44,181,073
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$
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111,283,628
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Transition
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JDL
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Suttle
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Networks
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Technologies
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Other
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Total
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Nine Months Ended September 30, 2013
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Sales
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$
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41,102,681
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$
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32,156,461
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$
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30,747,064
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$
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-
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$
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104,006,206
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Cost of sales
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28,948,153
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15,595,728
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24,534,895
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-
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69,078,776
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Gross profit
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12,154,528
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16,560,733
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6,212,169
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-
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34,927,430
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Selling, general and
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administrative expenses
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7,523,328
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15,156,939
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1,851,061
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3,304,260
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27,835,588
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Impairment
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5,849,853
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-
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5,849,853
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Operating income (loss)
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$
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4,631,200
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$
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(4,446,059)
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$
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4,361,108
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$
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(3,304,260)
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$
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1,241,989
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Depreciation and amortization
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$
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653,451
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$
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564,337
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$
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41,618
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$
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368,398
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$
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1,627,804
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Capital expenditures
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$
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777,196
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$
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752,732
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$
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15,361
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$
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431,769
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$
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1,977,058
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Transition
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JDL
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Suttle
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Networks
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Technologies
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Other
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Total
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Nine Months Ended September 30, 2012
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Sales
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$
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33,167,194
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$
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40,614,746
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$
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4,710,926
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$
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-
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$
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78,492,866
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Cost of sales
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24,441,885
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19,340,790
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3,345,808
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-
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47,128,483
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Gross profit
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8,725,309
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21,273,956
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1,365,118
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-
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31,364,383
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Selling, general and
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administrative expenses
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6,891,833
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16,557,399
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1,678,516
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3,041,879
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28,169,627
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Operating income (loss)
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$
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1,833,476
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$
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4,716,557
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$
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(313,398)
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$
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(3,041,879)
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$
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3,194,756
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Depreciation and amortization
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$
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699,893
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$
|
638,907
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$
|
80,725
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$
|
217,362
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$
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1,636,887
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Capital expenditures
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$
|
958,262
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$
|
277,340
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$
|
24,236
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$
|
787,933
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$
|
2,047,771
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