Segment Information

6 Months Ended

Jun. 30, 2021

Segment Reporting [Abstract]

Segment Information

L. Segment Information

The Company has two reportable business segments, electronic components and electronic instruments. The electronic components segment is focused on the design, manufacture and marketing of highly-engineered, high reliability frequency and spectrum control products. These electronic components ensure reliability and security in aerospace and defense communications, low noise and base accuracy for laboratory instruments, and synchronous data transfers throughout the wireless and Internet infrastructure. The electronic instruments segment is focused on the design and manufacture of high performance Frequency and Time Reference Standards that form the basis for timing and synchronization in various applications. 

Business segment information follows (in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2021			2020			2021			2020
Revenues from Operations
Electronic components	$	6,407		$	6,769		$	12,661		$	15,045
Electronic instruments		475			290			757			632
Total consolidated revenues	$	6,882		$	7,059		$	13,418		$	15,677
Operating Income
Electronic components	$	834		$	314		$	1,183		$	1,185
Electronic instruments		102			37			118			74
Unallocated corporate expense		(320	)		(167	)		(745	)		(415	)
Total operating income		616			184			556			844
Interest expense, net		(3	)		(4	)		(6	)		(4	)
Loss on equity investment in unconsolidated subsidiary		(676	)		(100	)		(752	)		(139	)
Other income (expense), net		70			232			242			(152	)
Total other (expense) income		(609	)		128			(516	)		(295	)
Income Before Income Taxes	$	7		$	312		$	40		$	549

Operating income is equal to revenues less cost of sales and operating expenses, excluding investment income, interest expense, loss on equity investment and income taxes.