SEGMENT REPORTING

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 10: SEGMENT REPORTING

The Company operates through three segments: CVD Equipment, Stainless Design Concepts (“SDC”) and CVD Materials. The CVD Equipment segment manufactures and sells chemical vapor deposition, physical vapor transport and similar equipment. The SDC segment designs and manufactures ultra-high purity gas and chemical delivery control systems. The CVD Materials segment provides material coatings for aerospace, medical, electronic and other applications and is not considered a core business of the Company. The Company evaluates performance based on several factors, of which the primary financial measure is income (loss) before taxes.

The Company’s corporate administration activities are reported in the “Corporate” column. These activities primarily include expenses related to certain corporate officers and support staff, expenses related to the Company’s Board of Directors, stock option expense for options and shares of restricted stock granted to corporate administration employees and board members, certain consulting expenses, investor and shareholder relations activities, and all of the Company’s legal, auditing and professional fees.

Elimination entries included in the “Eliminations” column represent intersegment revenues and cost of revenues that are eliminated in consolidation. Intersegment sales for the three months ended March 31, 2024 and 2023 by the SDC segment to the CVD Equipment segment were $15,000 and $129,000, respectively.

NOTE 10: SEGMENT REPORTING (continued)

The following table presents certain information regarding the Company’s segments as of and for the three months ended March 31, 2024 and 2023 (in thousands):

2024
	CVD Equipment			SDC		CVD Materials			Eliminations			Corporate			Consolidated
Assets	$	31,412		$	3,882	$	183		$	(34	)	$	-		$	35,443
Revenue	$	2,947		$	1,931	$	59		$	(15	)	$	-		$	4,922
Operating (loss) income		(1,405	)		632		(25	)		-			(825	)		(1,623	)
Pretax (loss) income		(1,411	)		632		(25	)		-			(668	)		(1,472	)
Depreciation and amortization	$	141		$	12	$	-		$	-		$	-		$	153
Purchase of property, plant & equipment	$	76		$	-	$	-		$	-		$	-		$	76

2023
	CVD Equipment			SDC		CVD Materials		Eliminations			Corporate			Consolidated
Assets	$	28,509		$	4,467	$	1,783	$	25		$	-		$	34,784
Revenue	$	5,845		$	2,312	$	667	$	(129	)	$	-		$	8,695
Operating (loss) income		(95	)		631		81		-			(804	)		(187	)
Pretax (loss) income		(93	)		631		108		-			(684	)		(38	)
Depreciation and amortization	$	131		$	12	$	23	$	-		$	-		$	166
Purchase of property, plant & equipment	$	136		$	10	$	-	$	-		$	-		$	146