Segment Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment Information

K. 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 March 31,
	2022			2021
Revenues
Electronic components	$	7,691		$	6,254
Electronic instruments		417			282
Total consolidated revenues	$	8,108		$	6,536
Operating Income (Loss)
Electronic components	$	1,054		$	349
Electronic instruments		8			16
Unallocated corporate expense		(841	)		(425	)
Total operating income (loss)		221			(60	)
Interest expense, net		(7	)		(3	)
Loss on equity investment in unconsolidated subsidiary		—			(76	)
Investment income		45			127
Other (expense) income, net		(16	)		45
Total other income, net		22			93
Income Before Income Taxes	$	243		$	33

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