Note 15 - Segment Information

12 Months Ended

Dec. 31, 2015

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

(15)

  

SEGMENT INFORMATION

We have three reportable segments, which are also our reporting units: Thermal Products, Mechanical Products and Electrical Products.

The Thermal Products segment includes the operations of Temptronic Corporation, Thermonics, Sigma, inTEST Thermal Solutions GmbH (Germany), and inTEST Pte, Limited (Singapore). Sales of this segment consist primarily of temperature management systems which we design, manufacture and market under our Temptronic, Thermonics and Sigma product lines. In addition, this segment provides post warranty service and support.

The Mechanical Products segment includes the operations of our Mt. Laurel, New Jersey manufacturing facility. Sales of our Mechanical Products segment consist primarily of manipulator and docking hardware products, which we design, manufacture and market. In addition, this segment provides post warranty service and support for various ATE equipment.

The Electrical Products segment includes the operations of inTEST Silicon Valley Corporation. Sales of this segment consist primarily of tester interface products which we design, manufacture and market.

We operate our business worldwide, and all three segments sell their products both domestically and internationally. All three segments sell to semiconductor manufacturers, third-party test and assembly houses and ATE manufacturers. Our Thermal Products segment also sells into a variety of markets outside of the ATE market, including the automotive, consumer electronics, defense/aerospace, energy, industrial and telecommunications markets. Intercompany pricing between segments is either a multiple of cost for component parts or list price for finished goods.

	Years Ended December 31,
	2015			2014
Net revenues from unaffiliated customers:
Thermal Products	$	24,084		$	23,446
Mechanical Products		7,539			11,245
Electrical Products		7,266			7,105
	$	38,889		$	41,796
Depreciation/amortization:
Thermal Products	$	581		$	720
Mechanical Products		79			87
Electrical Products		94			72
	$	754		$	879
Operating income (loss):
Thermal Products	$	4,517		$	4,740
Mechanical Products		(1,902	)		(18	)
Electrical Products		673			781
Corporate		(726	)		(587	)
	$	2,562		$	4,916
Earnings (loss) before income tax expense (benefit):
Thermal Products	$	4,479		$	4,699
Mechanical Products		(1,874	)		(5	)
Electrical Products		704			802
Corporate		(726	)		(587	)
	$	2,583		$	4,909
Income tax expense (benefit):
Thermal Products	$	1,252		$	1,407
Mechanical Products		(524	)		(2	)
Electrical Products		197			240
Corporate		(203	)		(175	)
	$	722		$	1,470

	Years Ended December 31,
	2015			2014
Net earnings (loss):
Thermal Products	$	3,227		$	3,292
Mechanical Products		(1,350	)		(3	)
Electrical Products		507			562
Corporate		(523	)		(412	)
	$	1,861		$	3,439
Capital expenditures:
Thermal Products	$	389		$	595
Mechanical Products		101			96
Electrical Products		109			140
	$	599		$	831

	December 31,
	2015		2014
Identifiable assets:
Thermal Products	$	16,983	$	26,211
Mechanical Products		19,733		7,801
Electrical Products		3,268		4,726
	$	39,984	$	38,738

The following table provides information about our geographic areas of operation. Net revenues from unaffiliated customers are based on the location to which the goods are shipped.

	Years Ended December 31,
	2015		2014
Net revenues from unaffiliated customers:
U.S.	$	14,294	$	14,363
Foreign		24,595		27,433
	$	38,889	$	41,796

	December 31,
	2015		2014
Property and equipment:
U.S.	$	797	$	621
Foreign		315		647
	$	1,112	$	1,268