BUSINESS AND SUMMARY OF ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021:

	As of September 30, 2021
2021 (excluding the nine months ended September 30, 2021)	$	217,000
2022		843,000
2023		841,000
2024		566,000
2025		296,000
Thereafter		867,000
Total operating lease payments		3,630,000
Less imputed interest		(553,000)
Total operating lease liabilities	$	3,077,000
Weighted average remaining lease term		5.7	years
Weighted average discount rate		6.87	%

Schedule of Revenue

NOTE 1 – BUSINESS AND SUMMARY OF ACCOUNTING POLICIES - (Continued)

Florida Pneumatic

	Nine months ended September 30,
	2021				2020				Increase (decrease)
			Percent of				Percent of
	Revenue		revenue		Revenue		revenue		$		%
Automotive	$	11,053,000	35.4	%	$	9,690,000	34.2	%	$	1,363,000	14.1	%
Retail		10,775,000	34.5			9,569,000	33.8			1,206,000	12.6
Industrial		3,919,000	12.6			2,383,000	8.4			1,536,000	64.5
Aerospace		5,094,000	16.3			6,341,000	22.4			(1,247,000)	(19.7)
Other		380,000	1.2			368,000	1.2			12,000	3.3
Total	$	31,221,000	100.0	%	$	28,351,000	100.0	%	$	2,870,000	10.1	%

NOTE 1 – BUSINESS AND SUMMARY OF ACCOUNTING POLICIES - (Continued)

Hy-Tech

	Three months ended September 30,
	2021				2020				Increase (decrease)
			Percent of				Percent of
	Revenue		revenue		Revenue		revenue		$		%
OEM	$	1,668,000	49.4	%	$	872,000	32.0	%	$	796,000	91.3	%
ATP		751,000	22.2			624,000	22.9			127,000	20.4
PTG		882,000	26.1			1,027,000	37.7			(145,000)	(14.1)
Other		77,000	2.3			202,000	7.4			(125,000)	(61.9)
Total	$	3,378,000	100.0	%	$	2,725,000	100.0	%	$	653,000	24.0	%