Segment Information

9 Months Ended

Sep. 30, 2013

Segment Reporting [Abstract]

Segment Information

10.           Segment Information

The Company operates in two business segments, Test and Measurement Instrumentation and New Energy. The Test and Measurement Instrumentation segment designs, manufactures, markets and services high performance test and measurement instruments and systems, wafer characterization tools for the semiconductor and solar industries, tensile stage systems for materials testing at academic and industrial settings, and computer-based balancing systems for aircraft and industrial power engines. The New Energy segment is focused on commercializing direct methanol fuel cells. The Company’s principal operations are located in North America.

The accounting policies of the Test and Measurement Instrumentation and New Energy segments are similar to those described in the summary of significant accounting policies in the Company’s Annual Report on Form 10-K (Note 2). The Company evaluates performance based on profit or loss from operations before income taxes. Inter-segment sales and expenses are not significant.

Summarized financial information concerning the Company’s reportable segments is shown in the following tables. The “Other” column includes corporate related items and items such as income taxes or unusual items, which are not allocated to reportable segments. The “Reconciling Items” column includes non-controlling interests in a consolidated entity. In addition, segments’ non-cash items include any depreciation in reported profit or loss. The New Energy segment figures include the Company’s direct micro fuel cell operations.  As a result of the suspension of the MTI Micro operations in late 2011, the New Energy segment will continue to be included in these tables as long as they remain in our consolidated operations.

(Dollars in thousands)	Test and Measurement Instrumentation		New Energy			Other			Reconciling Items		Condensed Consolidated Totals
Three Months Ended September 30, 2013
Product revenue	$	2,311	$	—		$	—		$	—	$	2,311
Unfunded research and product development expenses		301		—			—			—		301
Selling, general and administrative expenses		572		25			283			—		880
Segment profit (loss) from operations before non-controlling interest		438		(33	)		(146	)		—		259
Segment profit (loss)		438		(34	)		(258	)		18		164
Total assets		2,191		38			2,405			—		4,634
Capital expenditures		2		—			24			—		26
Depreciation		21		—			1			—		22

(Dollars in thousands)	Test and Measurement Instrumentation			New Energy			Other			Reconciling Items		Condensed Consolidated Totals
Three Months Ended September 30, 2012
Product revenue	$	1,083		$	—		$	—		$	—	$	1,083
Unfunded research and product development expenses		327			—			—			—		327
Selling, general and administrative expenses		472			41			795			—		1,308
Segment loss from operations before non-controlling interest		(668	)		(68	)		(443	)		—		(1,179	)
Segment (loss) profit		(668	)		(69	)		(448	)		36		(1,149	)
Total assets		2,039			159			2,016			—		4,214
Capital expenditures		2			—			—			—		2
Depreciation		23			6			—			—		29

(Dollars in thousands)	Test and Measurement Instrumentation		New Energy			Other			Reconciling Items		Condensed Consolidated Totals
Nine Months Ended September 30, 2013
Product revenue	$	6,778	$	—		$	—		$	—	$	6,778
Unfunded research and product development expenses		948		—			—			—		948
Selling, general and administrative expenses		1,582		67			977			—		2,626
Segment profit (loss) from operations before non-controlling interest		1,191		(99	)		(526	)		—		566
Segment profit (loss)		1,191		(99	)		(794	)		52		350
Total assets		2,191		38			2,405			—		4,634
Capital expenditures		44		—			24			—		68
Depreciation		62		4			2			—		68

(Dollars in thousands)	Test and Measurement Instrumentation			New Energy			Other			Reconciling Items			Condensed Consolidated Totals
Nine Months Ended September 30, 2012
Product revenue	$	3,653		$	—		$	—		$	—		$	3,653
Unfunded research and product development expenses (income)		1,038			(1	)		—			—			1,037
Selling, general and administrative expenses		1,423			137			1,818			—			3,378
Segment (loss) profit from operations before non-controlling interest		(1,491	)		20			(1,053	)		—			(2,524	)
Segment (loss) profit		(1,491	)		19			(1,058	)		(10	)		(2,540	)
Total assets		2,039			159			2,016			—			4,214
Capital expenditures		12			—			—			—			12
Depreciation		73			29			—			—			102

The following table presents the details of “Other” segment loss:

(Dollars in thousands)		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
Corporate and other (expenses) income:
Salaries and benefits	$		(175	)	$	(564	)	$	(442	)	$	(1,176	)
Depreciation			(1	)		—			(2	)		(1	)
Income tax expense			(113	)		(6	)		(268	)		(6	)
Other income (expense), net			31			122			(82	)		125
Total “Other” segment loss	$		(258	)	$	(448	)	$	(794	)	$	(1,058	)