BUSINESS AND SUMMARY OF ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2021

BUSINESS AND SUMMARY OF ACCOUNTING POLICIES

The following is a maturity analysis of the annual undiscounted cash flows reconciled to the carrying value of the operating lease liabilities as of March 31, 2021:


	As of March 31, 2021
2021 (excluding the three months ended March 31, 2021)	$	654,000
2022		783,000
2023		670,000
2024		391,000
2025		182,000
Thereafter		867,000
Total operating lease payments		3,547,000
Less imputed interest		(385,000)
Total operating lease liabilities	$	3,162,000


Weighted average remaining lease term	5.9 years
Weighted average discount rate	4.3	%

Schedule of Revenue

Florida Pneumatic


	Three months ended March 31,
	2021				2020				Increase (decrease)
			Percent of				Percent of
	Revenue		revenue		Revenue		revenue		$		%
Automotive	$	4,102,000	37.6	%	$	3,232,000	32.2	%	$	870,000	26.9	%
Retail		3,790,000	34.8			2,990,000	29.8			800,000	26.8
Industrial		1,359,000	12.5			1,062,000	10.6			297,000	28.0
Aerospace		1,528,000	14.0			2,599,000	25.9			(1,071,000)	(41.2)
Other		122,000	1.1			147,000	1.5			(25,000)	(17.0)
Total	$	10,901,000	100.0	%	$	10,030,000	100.0	%	$	871,000	8.7	%

Hy-Tech


	Three months ended March 31,
	2021				2020				Increase (decrease)
			Percent of				Percent of
	Revenue		revenue		Revenue		revenue		$		%
OEM	$	1,611,000	52.9	%	$	1,439,000	43.3	%	$	172,000	12.0	%
ATP		713,000	23.4			1,061,000	32.0			(348,000)	(32.8)
PTG		646,000	21.2			735,000	22.1			(89,000)	(12.1)
Other		74,000	2.5			85,000	2.6			(11,000)	(12.9)
Total	$	3,044,000	100.0	%	$	3,320,000	100.0	%	$	(276,000)	(8.3)	%

Schedule of computation of basic and diluted (loss) per common share

The following table sets forth the elements of basic and diluted loss per common share:


	Three months ended
	March 31,
	2021		2020
Numerator for basic and diluted loss per common share:
Net loss	$	(307,000)	$	(758,000)

Denominator for basic and diluted loss per share - weighted average common shares outstanding		3,169,000		3,144,000