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Segment Reporting
9 Months Ended
Sep. 30, 2022
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company is reporting its financial performance based on its external reporting segments: Wireless Infrastructure Services and Telecommunications.  These reportable segments are described below.
Wireless Infrastructure Services (“Wireless”) The Company's Wireless segment provides turn-key wireless infrastructure services for the four major U.S. wireless carriers, communication tower companies, national integrators, and original equipment manufacturers that support these wireless carriers.  These services primarily consist of the installation and upgrade of technology on cell sites and the construction of new small cells for 5G.
Telecommunications (“Telco”) The Company’s Telco segment sells new and refurbished telecommunications networking equipment, including both central office and customer premise equipment, to its customer base of
telecommunications providers, enterprise customers and resellers located primarily in North America. This segment also offers its customers repair and testing services for telecommunications networking equipment.
The Company evaluates performance and allocates its resources based on operating income. The accounting policies of its reportable segments are the same as those described in the summary of significant accounting policies. Segment assets consist primarily of cash and cash equivalents, accounts receivable, inventory, property and equipment, goodwill and intangible assets. The Company allocates its corporate general and administrative expenses to the reportable segments.
Three Months Ended September 30,Nine Months Ended September 30,
(in thousands)2022202120222021
Sales
Wireless$7,898 $6,992 $22,908 $15,462 
Telco18,028 12,735 54,566 33,949 
Total sales$25,926 $19,727 $77,474 $49,411 
Gross profit
Wireless$2,839 $1,908 $6,350 $4,668 
Telco5,704 3,140 16,098 7,830 
Total gross profit (loss)$8,543 $5,048 $22,448 $12,498 
Income (loss) from operations
Wireless$(202)$(2,105)$(3,859)$(5,759)
Telco1,994 (130)5,632 (1,624)
Total income (loss) from operations$1,792 $(2,235)$1,773 $(7,383)
(in thousands)September 30, 2022December 31, 2021
Segment assets
Wireless$7,655 $7,640 
Telco14,340 14,545 
Non-allocated5,955 3,241 
Total assets$27,950 $25,426