Segment Reporting

3 Months Ended

May 31, 2021

Segment Reporting [Abstract]

Segment Reporting

(23) Segment Reporting

The Company operates in three distinct segments based on our products and our internal organizational structure. The three operating segments, which are also the Company’s reportable segments, are Automotive Electronics, Consumer Electronics, and Biometrics.

Our Automotive Electronics segment designs, manufactures, markets and distributes rear-seat entertainment devices, remote start systems, automotive security, vehicle access systems, mobile interface modules, mobile multimedia devices, aftermarket/OE-styled radios, car link-smartphone telematics applications, driver distraction products, collision avoidance systems, location-based services, turn signal switches, automotive lighting products, automotive sensing and camera systems, USB ports, cruise control systems, heated seats, and satellite radio products.

Our Consumer Electronics segment designs, manufactures, markets and distributes home theater systems, high-end loudspeakers, outdoor speakers, business music systems, cinema speakers, wireless and Bluetooth speakers, soundbars, wired and wireless headphones and ear buds, DLNA (Digital Living Network Alliance) compatible devices, remote controls, karaoke products, personal sound amplifiers, infant/nursery products, as well as A/V connectivity, portable/home charging, reception, and digital consumer products.

Our Biometrics segment designs, manufactures, markets, and distributes iris identification and biometric security related products.

The accounting principles applied at the consolidated financial statement level are generally the same as those applied at the operating segment level and there are no material intersegment sales. The segments are allocated interest expense, based upon a pre-determined formula, which utilizes a percentage of each operating segment's intercompany balance, which is offset in Corporate/Eliminations.

Segment data for each of the Company's segments is presented below:

	Automotive Electronics			Consumer Electronics			Biometrics			Corporate/ Eliminations			Total
Three Months Ended May 31, 2021
Net sales	$	42,657		$	94,113		$	205		$	85		$	137,060
Equity in income of equity investees		2,723			—			—			—			2,723
Interest expense and bank charges		373			1,975			401			(2,221	)		528
Depreciation and amortization expense		783			1,001			76			947			2,807
Income (loss) before income taxes		3,230			5,468			(2,353	)		(4,064	)		2,281
Three Months Ended May 31, 2020
Net sales	$	17,276		$	54,514		$	97		$	100		$	71,987
Equity in income of equity investees		862			—			—			—			862
Interest expense and bank charges		168			2,134			355			(1,858	)		799
Depreciation and amortization expense		466			965			86			1,026			2,543
Loss before income taxes		(3,110	)		(53	)		(2,137	)		(2,024	)		(7,324	)