OPERATING SEGMENTS

12 Months Ended

Dec. 31, 2011

Segment Reporting [Abstract]

OPERATING SEGMENTS

OPERATING SEGMENTS

The Company has two reportable operating segments: electronic devices and communications equipment. The electronic devices segment manufactures and markets electronic power supplies, RF and microwave devices and subsystem assemblies. The electronic devices segment consists of the Company’s two electronic device subsidiaries, located in England, both of which offer the same or similar products to the same or similar customers. 

The communications equipment segment designs, manufactures and distributes network access products including timing and synchronization products.  The communications equipment segment consists of operating entities CXR Larus located in the United States and CXR AJ located in France, both of which offer the same or similar products to similar customers.  Both segments operate primarily in the U.S., European and North African markets, but they have distinctly different customers, design and manufacturing processes and marketing strategies.  Each segment has discrete financial information and a separate management structure.

The Company evaluates performance based upon contribution margin of the segments and also upon profit or loss from operations before income taxes exclusive of nonrecurring gains and losses. The Company accounts for intersegment sales at pre-determined prices negotiated between the individual segments.

In March 2010, the Company sold its RO Operations (see Note 3), which were part of its electronic devices segment.  In August 2010, the Company sold its ACC Operations, (see Note 3) which were part of the electronic devices segment.  In this report, the RO Operations and ACC Operations are classified as a discontinued operation for all periods presented.  In the fourth quarter of 2011, the Company made the determination to sell its Test Product Line (see Note 3), which was part of the communications equipment segment. In this report, the Test Product Line is classified as an asset held for sale for all periods presented. The results from the discontinued operations and assets held for sale are excluded from their respective segments and the prior period amounts have been adjusted to conform to this presentation.

Included in the Company’s reconciliation of segment financial data to the consolidated amounts is unallocated corporate expenses.  Selected financial data for each of the Company’s operating segments reconciled to the consolidated totals is shown below (in thousands):

	Year ended December 31,
	2011			2010
Net sales
Electronic devices	$	22,022		$	18,263
Communications equipment	11,509			11,260
Total	$	33,531		$	29,523
Gross profit
Electronic devices	$	5,859		$	4,776
Communications equipment	3,665			4,105
Total	$	9,524		$	8,881
Depreciation and amortization
Electronic devices	$	223		$	260
Communications equipment	163			193
All other	4			8
Total	$	390		$	461
Operating income (loss)
Electronic devices	$	2,624		$	1,953
Communications equipment	(1,023		)	(639		)
Corporate and other	(3,244		)	(5,089		)
Total	$	(1,643	)	$	(3,775	)

	December 31, 2011		December 31, 2010
Total assets
Electronic devices	$	16,188	$	13,848
Communications equipment	7,262		8,303
Discontinued and held for sale assets	345		478
Corporate and other	873		2,860
Total	$	24,668	$	25,489

No customer in either segment accounted for 10% or more of net sales during 2011 or 2010.

The Company’s segments operate in different geographic areas.  The following table is a summary of the Company’s net sales by geographic area for the year ended December 31 (in thousands):

	2011				2010
	Electronic Devices		Communications Equipment		Electronic Devices		Communications Equipment
United States	$	—	$	3,077	$	—	$	4,707
England	22,022		—		18,263		—
France	—		8,432		—		6,553
Total net sales	$	22,022	$	11,509	$	18,263	$	11,260

Sales and purchases between geographic areas have been accounted for on the basis of prices set between the geographic areas, generally at cost plus 40%.  Net sales by geographic area have been determined based upon the country from which the product was shipped.

The following table is a summary of the Company’s total assets by geographic area at December 31 (in thousands):

	2011		2010
United States	$	3,813	$	6,230
England	15,543		13,848
France	4,967		4,933
Discontinued Operations	345		478
Total assets	$	24,668	$	25,489