BUSINESS SEGMENTS

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 11 – BUSINESS SEGMENTS

P&F operates in two primary lines of business, Tools and Hardware. For reporting purposes, Florida Pneumatic and Hy-Tech are combined in the Tools segment, while Nationwide is currently the only subsidiary in the Hardware segment. The Company evaluates segment performance based primarily on segment operating income. The accounting policies of each of the segments are the same as those referred to in Note 1.

Three months ended June 30, 2013	Consolidated		Tools		Hardware
Revenues from unaffiliated customers	$	19,476,000	$	13,221,000	$	6,255,000
Segment operating income	$	2,964,000	$	1,740,000	$	1,224,000
General corporate expense		(1,442,000)
Interest expense – net		(118,000)
Earnings before income taxes	$	1,404,000
Segment assets	$	54,422,000	$	40,377,000	$	14,045,000
Corporate assets		4,236,000
Total assets	$	58,658,000
Long-lived assets, including $13,000 at corporate	$	17,384,000	$	12,887,000	$	4,484,000

Three months ended June 30, 2012	Consolidated		Tools		Hardware
Revenues from unaffiliated customers	$	15,241,000	$	9,673,000	$	5,568,000
Segment operating income	$	2,419,000	$	1,303,000	$	1,116,000
General corporate expense		(1,463,000)
Interest expense – net		(133,000)
Earnings before income taxes	$	823,000
Segment assets	$	44,561,000	$	33,122,000	$	11,439,000
Corporate assets		2,679,000
Total assets	$	47,240,000
Long-lived assets, including $41,000 at corporate	$	17,816,000	$	13,139,000	$	4,636,000

Six months ended June 30, 2013	Consolidated		Tools		Hardware
Revenues from unaffiliated customers	$	40,185,000	$	28,850,000	$	11,335,000
Segment operating income	$	5,492,000	$	3,454,000	$	2,038,000
General corporate expense		(2,868,000)
Interest expense – net		(227,000)
Earnings before income taxes	$	2,397,000

Six months ended June 30, 2012	Consolidated		Tools		Hardware
Revenues from unaffiliated customers	$	29,558,000	$	19,345,000	$	10,213,000
Segment operating income	$	4,842,000	$	3,032,000	$	1,810,000
General corporate expense		(3,015,000)
Interest expense – net		(275,000)
Earnings before income taxes	$	1,552,000