Note 19 - Segment Information

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

(19)  SEGMENT INFORMATION

We have two reportable segments, Thermal and EMS, which are also our reporting units. Thermal includes the operations of Temptronic, Thermonics, Sigma, inTEST Thermal Solutions GmbH (Germany), inTEST Pte, Limited (Singapore), Ambrell, Z-Sciences and Videology, both of which we acquired in October 2021 as discussed further in Note 3. Sales of this segment consist primarily of temperature management systems which we design, manufacture and market under our Temptronic, Thermonics and Sigma product lines, precision induction heating systems which are designed, manufactured and marketed by Ambrell, our ultra-cold storage solutions for the medical cold chain market which are designed, manufactured and marketed by Z-Sciences and industrial-grade circuit board mounted video digital cameras and related devices, systems and software designed, manufactured and marketed by Videology. In addition, this segment provides post-warranty service and support.

EMS includes the operations of our manufacturing facility in Mt. Laurel, New Jersey and Acculogic, which we acquired in December 2021 as discussed further in Note 3. Sales of this segment consist primarily of manipulator, docking hardware and tester interface products, which we design, manufacture and market under our inTEST EMS product line and robotics-based electronic production test equipment and application support services which are sold by Acculogic.

We operate our business worldwide and sell our products both domestically and internationally. Both of our segments sell to semiconductor manufacturers, third-party test and assembly houses and ATE manufacturers and to a variety of markets outside of the Semi Market, including the automotive, defense/aerospace, industrial, life sciences, security and other markets.

	Years Ended December 31,
	2021			2020
Revenue from unaffiliated customers:
Thermal	$	52,369		$	40,209
EMS		32,509			13,614
	$	84,878		$	53,823
Depreciation/amortization:
Thermal	$	1,931		$	1,727
EMS		135			109
Corporate		40			27
	$	2,106		$	1,863
Operating income (loss):
Thermal	$	2,759		$	325
EMS		9,431			(1,113	)
Corporate		(3,731	)		(429	)
	$	8,459		$	(1,217	)
Earnings (loss) before income tax expense (benefit):
Thermal	$	2,698		$	306
EMS		9,432			(1,077	)
Corporate		(3,728	)		(460	)
	$	8,402		$	(1,231	)
Income tax expense (benefit):
Thermal	$	359		$	84
EMS		1,257			(294	)
Corporate		(497	)		(126	)
	$	1,119		$	(336	)
Net earnings (loss):
Thermal	$	2,339		$	222
EMS		8,175			(783	)
Corporate		(3,231	)		(334	)
	$	7,283		$	(895	)
Capital expenditures:
Thermal	$	518		$	371
EMS		423			284
Corporate		53			3
	$	994		$	658

	December 31,
	2021		2020
Identifiable assets:
Thermal	$	67,531	$	50,782
EMS		26,251		9,667
Corporate		10,123		1,581
	$	103,905	$	62,030

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

	Years Ended December 31,
	2021		2020
Revenue from unaffiliated customers:
U.S.	$	26,802	$	22,211
Foreign		58,076		31,612
	$	84,878	$	53,823

	December 31,
	2021		2020
Property and equipment:
U.S.	$	2,346	$	2,053
Foreign		342		297
	$	2,688	$	2,350