Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

L. Segment Information

The Company has two reportable business segments; electronic components (MtronPTI), and electronic instruments (PTF). 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,
	2022			2021			2022			2021
Revenues
Electronic components	$	7,064		$	6,407		$	14,755		$	12,661
Electronic instruments		370			475			787			757
Total consolidated revenues	$	7,434		$	6,882		$	15,542		$	13,418
Operating Income (Loss)
Electronic components	$	711		$	834		$	1,765		$	1,183
Electronic instruments		(22	)		102			(14	)		118
Unallocated corporate expense		(565	)		(320	)		(1,406	)		(745	)
Total operating income		124			616			345			556
Interest income (expense), net		7			(3	)		—			(6	)
Loss on equity investment in unconsolidated subsidiary		—			(676	)		—			(752	)
Investment (loss) income		(2,373	)		75			(2,328	)		202
Other (expense) income, net		(8	)		(5	)		(24	)		40
Total other expense, net		(2,374	)		(609	)		(2,352	)		(516	)
(Loss) Income Before Income Taxes	$	(2,250	)	$	7		$	(2,007	)	$	40

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