BUSINESS SEGMENTS

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 10—BUSINESS SEGMENTS

The Company has organized its business into two reportable business segments: “Tools” and “Hardware”. The Company is organized around these two distinct product segments, each of which has very different end users. For reporting purposes, Florida Pneumatic, and Hy-Tech are combined in the Tools segment, with Nationwide being the sole entity reported 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 described in Note 1.

The following table presents financial information by segment for the years ended December 31, 2015 and 2014. Segment operating income excludes general corporate expenses, interest expense and income taxes. Identifiable assets are those assets directly owned or utilized by the particular business.

Year ended December 31, 2015	Consolidated		Tools		Hardware
Net revenues from unaffiliated customers	$	81,702,000	$	60,312,000	$	21,390,000
Segment operating income	$	11,270,000	$	7,376,000	$	3,894,000
General corporate expense		(5,311,000)
Other income		126,000
Interest expense		(715,000)
Income before income taxes	$	5,370,000
Segment assets	$	68,952,000	$	58,694,000	$	10,258,000
Corporate assets		1,626,000
Total assets	$	70,578,000
Long-lived assets, including $49,000 of corporate assets	$	33,377,000	$	28,832,000	$	4,496,000
Depreciation and amortization expense, including $16,000 of corporate expense	$	1,720,000	$	1,455,000	$	249,000
Amortization of other intangible assets expense	$	1,295,000	$	1,237,000	$	58,000

Year ended December 31, 2014	Consolidated		Tools		Hardware
Net revenues from unaffiliated customers	$	75,035,000	$	56,114,000	$	18,921,000
Segment operating income	$	10,313,000	$	6,715,000	$	3,598,000
General corporate expense		(5,996,000)
Interest expense		(540,000)
Income before income taxes	$	3,777,000
Segment assets	$	71,394,000	$	60,366,000	$	11,028,000
Corporate assets		1,700,000
Total assets	$	73,094,000
Long-lived assets, including $51,000 of corporate assets	$	35,009,000	$	30,326,000	$	4,632,000
Depreciation and amortization expense, including $11,000 of corporate expense	$	1,551,000	$	1,336,000	$	204,000
Amortization of other intangible assets expense	$	718,000	$	661,000	$	57,000

 There was no impairment charge recorded in 2015 or 2014.

Revenue and long-lived assets by geographic region were as follows:

	Year ended December 31,
	2015		2014
Revenue:
North America	$	77,834,000	$	72,881,000
Europe		2,989,000		1,563,000
All other		879,000		591,000
Total Revenue	$	81,702,000	$	75,035,000
Long-Lived Assets:
North America	$	32,320,000	$	33,782,000
Europe		1,057,000		1,227,000
Total Long-Lived Assets	$	33,377,000	$	35,009,000