Note 12 - Segments

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

12.  SEGMENTS 

The Company operates in one industry with three reportable operating segments, which represent the Company's three product groups and a corporate segment.  The segments consist of Cinch Connectivity Solutions, Power Solutions and Protection, Magnetic Solutions and a Corporate segment.  The primary criteria by which financial performance is evaluated and resources are allocated are net sales and income from operations.  The following is a summary of key financial data:

	Year Ended December 31, 2020
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	150,731		$	181,488		$	133,552		$	-		$	465,771
Gross Profit		42,200			45,587			33,072			(1,129	)		119,730
Gross Profit %		28.0	%		25.1	%		24.8	%		nm			25.7	%
Total Assets		137,333			180,939			92,538			43,056			453,866
Capital Expenditures		1,955			2,458			1,063			-			5,476
Depreciation and Amortization Expense		5,700			8,611			2,112						16,423

	Year Ended December 31, 2019
	Connectivity			Power Solutions			Magnetic			Corporate
	Solutions			and Protection			Solutions			Segment			Total
Net sales	$	172,348		$	163,528		$	156,536		$	-		$	492,412
Gross Profit		44,417			32,846			34,350			(1,640	)		109,973
Gross Profit %		25.8	%		20.1	%		21.9	%		nm			22.3	%
Total Assets		145,344			168,422			89,463			65,688			468,917
Capital Expenditures		2,934			4,570			2,387						9,891
Depreciation and Amortization Expense		6,021			7,858			2,592						16,471

Entity-Wide Information

The following is a summary of entity-wide information related to the Company's net sales to external customers by geographic area and by major product line.

	Years Ended December 31,
	2020		2019
Net Sales by Geographic Location:
United States	$	265,676	$	256,044
Macao		129,303		154,745
United Kingdom		22,017		24,877
Slovakia		17,609		22,705
Germany		13,582		14,855
Switzerland		8,612		10,654
All other foreign countries		8,972		8,532
Consolidated net sales	$	465,771	$	492,412
Net Sales by Major Product Line:
Connectivity solutions	$	150,731	$	172,348
Magnetic solutions		133,552		156,536
Power solutions and protection		181,488		163,528
Consolidated net sales	$	465,771	$	492,412

The following is a summary of long-lived assets by geographic area as of December 31, 2020 and 2019:

	December 31,
	2020		2019
Long-lived Assets by Geographic Location:
United States	$	26,748	$	27,377
People's Republic of China (PRC)		28,711		30,245
Slovakia		5,514		5,726
Switzerland		87		2,339
United Kingdom		1,715		2,053
All other foreign countries		1,148		1,123
Consolidated long-lived assets	$	63,923	$	68,863

Long-lived assets consist of property, plant and equipment, net and other assets of the Company that are identified with the operations of each geographic area.

The territory of Hong Kong became a Special Administrative Region ("SAR") of the PRC in the middle of 1997. The territory of Macao became a SAR of the PRC at the end of 1999. Management cannot presently predict what future impact this will have on the Company, if any, or how the political climate in the PRC will affect the Company's contractual arrangements in the PRC.  A significant portion of the Company's manufacturing operations and approximately 32.6% of its identifiable assets are located in Asia.

Net Sales to Major Customers

The Company had net sales to one customer in excess of ten percent of consolidated net sales in 2020 and 2019.  The net sales associated with this customer were $55.2 million (11.9% of sales) in 2020 and $50.2 million (10.2% of sales) in 2019. Net sales related to this significant customer were primarily reflected in the Magnetic Solutions operating segment.