Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

M. 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 September 30,						Nine Months Ended September 30,
	2021			2020			2021			2020
Revenues from Operations
Electronic components	$	7,173		$	7,860		$	19,834		$	22,905
Electronic instruments		328			211			1,085			843
Total consolidated revenues	$	7,501		$	8,071		$	20,919		$	23,748
Operating (Loss) Income
Electronic components	$	854		$	1,064		$	2,037		$	2,249
Electronic instruments		32			(41	)		150			33
Unallocated corporate expense		(1,632	)		(314	)		(2,377	)		(729	)
Total operating (loss) income		(746	)		709			(190	)		1,553
Interest expense, net		(3	)		(3	)		(9	)		(7	)
Gain (loss) on equity investment in unconsolidated subsidiary		60,205			(61	)		59,453			(200	)
Unrealized (loss) gain on marketable securities		(18,867	)		122			(18,665	)		15
Other income (expense), net		240			33			280			(12	)
Total other income (expense)		41,575			91			41,059			(204	)
Income Before Income Taxes	$	40,829		$	800		$	40,869		$	1,349

Operating income is equal to revenues less cost of sales and operating expenses (engineering, selling and administrative expenses).