BUSINESS AND SUMMARY OF ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2020

BUSINESS AND SUMMARY OF ACCOUNTING POLICIES

Schedule of operating lease liabilities

The following is a maturity analysis of the annual undiscounted cash flows reconciled to the carrying value of the operating lease liabilities as of September 30, 2020:

	As of September 30, 2020
2020 (excluding the nine months ended September 30, 2020)	$	217,000
2021		861,000
2022		771,000
2023		659,000
2024		388,000
Thereafter		1,048,000
Total operating lease payments		3,944,000
Less imputed interest		(453,000)
Total operating lease liabilities	$	3,491,000

Weighted average remaining lease term	6.2 years
Weighted average discount rate	4.31	%

Schedule of retail automotive aerospace and industrial

	Three months ended September 30,
	2020				2019				Increase (decrease)
			Percent of				Percent of
	Revenue		revenue		Revenue		revenue		$		%
Retail	$	3,718,000	38.4	%	$	3,240,000	29.5	%	$	478,000	14.8	%
Automotive		3,530,000	36.5			3,293,000	30.1			237,000	7.2
Industrial		1,044,000	10.8			1,301,000	11.9			(257,000)	(19.8)
Aerospace		1,268,000	13.1			2,977,000	27.2			(1,709,000)	(57.4)
Other		121,000	1.2			140,000	1.3			(19,000)	(13.6)
Total	$	9,681,000	100.0	%	$	10,951,000	100.0	%	$	(1,270,000)	(11.6)	%

	Nine months ended September 30,
	2020				2019				Increase (decrease)
			Percent of				Percent of
	Revenue		revenue		Revenue		revenue		$		%
Retail	$	9,569,000	33.8	%	$	9,379,000	29.2	%	$	190,000	2.0	%
Automotive		9,690,000	34.2			10,916,000	33.9			(1,226,000)	(11.2)
Industrial		2,383,000	8.4			3,887,000	12.0			(1,504,000)	(38.7)
Aerospace		6,341,000	22.4			7,530,000	23.4			(1,189,000)	(15.8)
Other		368,000	1.2			465,000	1.5			(97,000)	(20.9)
Total	$	28,351,000	100.0	%	$	32,177,000	100.0	%	$	(3,826,000)	(11.9)	%

Hy-Tech

	Three months ended September 30,
	2020				2019				(Decrease) increase
			Percent of				Percent of
	Revenue		revenue		Revenue		revenue		$		%
ATP	$	624,000	22.9	%	$	1,375,000	35.9	%	$	(751,000)	(54.6)	%
OEM		872,000	32.0			1,946,000	50.9			(1,074,000)	(55.2)
PTG		1,027,000	37.7			322,000	8.4			705,000	218.9
Other		202,000	7.4			182,000	4.8			20,000	11.0
Total	$	2,725,000	100.0	%	$	3,825,000	100.0	%	$	(1,100,000)	(28.8)	%

	Nine months ended September 30,
	2020				2019				(Decrease) increase
			Percent of				Percent of
	Revenue		revenue		Revenue		revenue		$		%
ATP	$	2,254,000	25.2	%	$	5,160,000	44.0	%	$	(2,906,000)	(56.3)	%
OEM		3,513,000	39.4			5,032,000	43.0			(1,519,000)	(30.2)
PTG		2,783,000	31.2			904,000	7.7			1,879,000	207.9
Other		375,000	4.2			623,000	5.3			(248,000)	(39.8)
Total	$	8,925,000	100.0	%	$	11,719,000	100.0	%	$	(2,794,000)	(23.8)	%