Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.3.0.15
Segment Information
 9 Months Ended
Sep. 30, 2011
Segment Information [Abstract]  
Segment Information

NOTE 9 – SEGMENT INFORMATION

 

The Company classifies its businesses into four segments as follows:

 

  • 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;
  • Transition Networks designs and markets data transmission, computer network and media conversion products;
  • 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 nine month periods ended September 30, 2011 and 2010 is as follows:

 

SEGMENT INFORMATION - THREE MONTHS          
             
    Transition JDL Austin    
  Suttle Networks Technologies Taylor Other Total
Three months ended September 30, 2011:            
Sales  $       9,557,670  $      27,573,925  $        3,872,368  $        980,607  $                      -  $        41,984,570
Cost of sales           7,233,772          14,845,981            2,403,383            946,164                          -  $        25,429,300
Gross profit           2,323,898          12,727,944            1,468,985              34,443                          -            16,555,270
Selling, general and            
  administrative expenses           1,690,716            6,017,085               522,104            436,995           1,404,508  $        10,071,408
Goodwill impairment                          -                           -                           -                        -                          -                            -
Operating income (loss)  $          633,182  $        6,710,859  $           946,881  $      (402,552)  $     (1,404,508)  $          6,483,862
             
Depreciation and amortization  $          245,870  $           184,712  $             23,621  $          12,095  $            70,984  $             537,282
             
Capital expenditures  $          255,232  $           348,129  $               4,572  $          29,105  $            29,942  $             666,980
             
Assets at September 30, 2011  $     22,573,483  $      38,084,903  $        2,616,360  $     2,265,011  $     51,173,848  $      116,713,605
             
    Transition JDL Austin    
  Suttle Networks Technologies Taylor Other Total
Three months ended September 30, 2010:            
Sales  $       9,069,600  $      18,991,587  $        4,463,475  $        799,131  $                      -  $        33,323,793
Cost of sales           6,634,125            8,400,497            2,302,883            676,304                          -  $        18,013,809
Gross profit           2,435,475          10,591,090            2,160,592            122,827                          -            15,309,984
Selling, general and            
  administrative expenses           1,730,506            5,452,714               346,899            324,672           1,150,908  $          9,005,699
Operating income (loss)  $          704,969  $        5,138,376  $        1,813,693  $      (201,845)  $     (1,150,908)  $          6,304,285
             
Depreciation and amortization  $          187,636  $           158,071  $             11,709  $            8,952  $            73,669  $             440,037
             
Capital expenditures  $            (3,387)  $           193,763  $                       -  $          20,961  $            84,063  $             295,400
             
Assets at September 30, 2010  $     19,677,651  $      31,467,598  $        4,205,027  $     2,919,046  $     50,128,264  $      108,397,586

SEGMENT INFORMATION - NINE MONTHS          
             
    Transition JDL Austin    
  Suttle Networks Technologies Taylor Other Total
Nine months ended September 30, 2011:            
Sales  $     27,504,276  $      76,507,810  $      11,654,074  $     2,770,897  $                    -  $   118,437,057
Cost of sales         20,662,922          40,265,114            6,680,401         2,489,276                        -  $     70,097,713
Gross profit           6,841,354          36,242,696            4,973,673            281,621                        -         48,339,344
Selling, general and            
  administrative expenses           5,125,669          17,246,437            1,523,049         1,044,941          4,249,282  $     29,189,378
Goodwill impairment           1,271,986                             -                        -             1,271,986
Operating income (loss)  $          443,699  $      18,996,259  $        3,450,624  $      (763,320)  $    (4,249,282)  $     17,877,980
             
Depreciation and amortization  $          707,534  $           526,474  $             80,927  $          36,225  $         220,263  $       1,571,423
             
Capital expenditures  $          838,033  $           699,235  $             15,947  $          43,693  $           38,985  $       1,635,893
             
    Transition JDL Austin    
  Suttle Networks Technologies Taylor Other Total
Nine months ended September 30, 2010:            
Sales  $     28,121,860  $      49,863,982  $        9,384,330  $     2,494,456  $                    -  $     89,864,628
Cost of sales         20,612,293          22,686,238            5,199,168         2,257,876                        -  $     50,755,575
Gross profit           7,509,567          27,177,744            4,185,162            236,580                        -         39,109,053
Selling, general and            
  administrative expenses           5,364,176          15,772,091            1,055,247            853,435          3,447,631  $     26,492,580
Operating income (loss)  $       2,145,391  $      11,405,653  $        3,129,915  $      (616,855)  $    (3,447,631)  $     12,616,473
             
Depreciation and amortization  $          623,479  $           456,335  $             88,517  $          29,679  $         220,055  $       1,418,065
             
Capital expenditures  $          501,425  $           473,015  $             16,947  $          35,354  $         164,145  $       1,190,886