Note 13 - Business Segments

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 13 – Business Segments

The Company has four operating segments and three reportable segments, structured by differences in products and services, that are regularly reviewed by the Company’s chief operating decision maker to make decisions about allocating resources and assessing segment performance. The segment performance is evaluated at segment operating income which is defined as gross profit less selling, general and administrative expenses and research and development expenses. General corporate expenses, including costs associated with various support functions such as human resources, information technology, finance and accounting, and general and administrative costs, are allocated to the reportable segments. The Company’s four operating segments have been aggregated into three reportable segments based on the authoritative guidance. The Company aggregated its Other Products and Services operating segment into the Industrial Analyzer Products and Services segment based on minimal business activity and materiality.

The Permeation segment includes instruments and services that measure the rate at which various gases and vapors permeate through a variety of materials. The Package Testing segment provides customers with the ability to assess package performance, shelf-life, package improvement, cost reduction, sustainability and product safety using Modified Atmosphere Packaging and other technologies. The Industrial Analyzers and Other segment includes advanced gas analysis and monitoring instrumentation used in applications such as oil and gas exploration, beverage and specialty gas analysis, industrial hygiene and safety, food safety and environmental air monitoring.

The accounting policies of the reportable segments are the same as those described in Note 1 to the Consolidated Financial Statements found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013. Intersegment sales for the three and six month periods ended June 30, 2014 and 2013 were insignificant.

Financial information by reportable segment for the three and six-month periods ended June 30, 2014 and 2013 is as follows:

	Three Months Ended June 30, 2014				Six Months Ended June 30, 2014
	Trade Revenue		Segment Operating Income		Trade Revenue		Segment Operating Income
Permeation	$	5,043,897	$	661,134	$	10,892,396	$	1,674,731
Package Testing		7,353,969		678,486		13,978,436		729,038
Industrial Analyzers and Other		3,176,657		446,254		6,016,839		502,736
Total	$	15,574,523	$	1,785,874	$	30,887,671	$	2,906,505

	Three Months Ended June 30, 2013					Six Months Ended June 30, 2013
	Trade Revenue		Segment Operating Income (Loss)			Trade Revenue		Segment Operating Income
Permeation	$	5,150,886	$	863,123		$	10,116,828	$	1,352,966
Package Testing		6,035,986		(20,688	)		12,647,618		509,164
Industrial Analyzers and Other		2,501,143		66,785			5,370,747		302,438
Total	$	13,688,015	$	909,220		$	28,135,193	$	2,164,568