Segment Reporting

3 Months Ended

Mar. 31, 2024

Notes

Segment Reporting

7.  Segment Information—The Company operates in two business segments as determined by its products.  The fastener segment includes rivets, cold-formed fasteners and parts and screw machine products.  The assembly equipment segment includes automatic rivet setting machines and parts and tools for such machines.

Information by segment for the periods presented is as follows:

	Fastener	Assembly Equipment	Unallocated Corporate	Consolidated
Three Months Ended March 31, 2024:
Net sales	$      6,723,854	$    1,129,327	0	$      7,853,181
Depreciation	293,381	29,484	540	323,405
Segment operating profit (loss)	(389,124)	322,621	0	(66,503)
Selling and administrative expenses	0	0	(836,800)	(836,800)
Interest income	0	0	28,469	28,469
Loss before income taxes				$     (874,834)
Capital expenditures	54,222	38,863	0	93,085
Segment assets:
Accounts receivable, net	4,871,135	592,582	0	5,463,717
Inventories, net	5,227,398	1,519,277	0	6,746,675
Property, plant and equipment, net	9,159,982	1,195,183	1,020,133	11,375,298
Other assets	0	0	4,207,043	4,207,043
				$    27,792,733
Three Months Ended March 31, 2023:
Net sales	$      7,856,813	$      872,912	0	$      8,729,725
Depreciation	272,636	30,732	2,664	306,032
Segment operating profit (loss)	(428,501)	189,315	0	(239,186)
Selling and administrative expenses	0	0	(538,537)	(538,537)
Interest income	0	0	40,586	40,586
Loss before income taxes				$     (737,137)
Capital expenditures	336,066	0	77,353	413,419
Segment assets:
Accounts receivable, net	5,857,565	315,509	0	6,173,074
Inventories, net	8,566,031	1,432,921	0	9,998,952
Property, plant and equipment, net	9,625,759	1,272,765	1,070,656	11,969,180
Other assets	0	0	5,551,041	5,551,041
				$    33,692,247