Business Segment Data

9 Months Ended

Sep. 30, 2022

Business Segment Data [Line Items]

Segment Reporting Disclosure [Text Block]

Note 13 – Business Segment Data

Operating segments are based on the Company’s business components about which separate financial information is available and are evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and in assessing performance of the business.

The Company evaluates segment performance and allocates resources based upon operating income (loss). The Company’s operations are managed in two reportable business segments: Digital product sales and Digital product lease and maintenance.  Both design and produce large-scale, multi-color, real-time digital displays.  Both operating segments are conducted on a global basis, primarily through operations in the United States.  The Company also has operations in Canada.  The Digital product sales segment sells equipment and the Digital product lease and maintenance segment leases and maintains equipment.  Corporate general and administrative items relate to costs that are not directly identifiable with a segment.  There are no intersegment sales.

Foreign revenues represent less than 10% of the Company’s revenues in the nine months ended September 30, 2022 and 2021.  The Company’s foreign operation does not manufacture its own equipment; the domestic operation provides the equipment that the foreign operation leases or sells.  The foreign operation operates similarly to the domestic operation and has similar profit margins.  Foreign assets are immaterial.

Information about the Company’s operations in its two business segments for the three and nine months ended September 30, 2022 and 2021 is as follows:

	Three months ended September 30				Nine months ended September 30
In thousands	2022		2021		2022		2021
Revenues:
Digital product sales	$	4,510	$	2,393	$	14,763	$	6,882
Digital product lease and maintenance		279		472		993		1,456
Total revenues	$	4,789	$	2,865	$	15,756	$	8,338
Operating (loss) income:
Digital product sales	$	(385)	$	(1,093)	$	375	$	(2,814)
Digital product lease and maintenance		148		335		538		977
Corporate general and administrative expenses		(346)		(259)		(1,178)		(843)
Total operating loss		(583)		(1,017)		(265)		(2,680)
Interest expense, net		(110)		(103)		(382)		(363)
Gain (loss) on foreign currency remeasurement		181		62		241		(10)
Gain on extinguishment of debt		-		-		-		77
Gain on forgiveness of PPP loan		-		-		824		-
Pension benefit		53		66		158		200
(Loss) income before income taxes		(459)		(992)		576		(2,776)
Income tax expense		(7)		(7)		(19)		(19)
Net (loss) income	$	(466)	$	(999)	$	557	$	(2,795)

	September 30 2022		December 31 2021
Assets
Digital product sales	$	10,439	$	6,379
Digital product lease and maintenance		1,372		1,748
Total identifiable assets		11,811		8,127
General corporate		20		524
Total assets	$	11,831	$	8,651