| Schedule of Segment Reporting by Segment |
Information by segment is as follows:
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
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|
Fastener |
|
|
Assembly (1)
Equipment |
|
|
Other |
|
|
Consolidated |
|
Three Months Ended March 31, 2025 |
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
6,195,551 |
|
|
$ |
1,086,664 |
|
|
$ |
- |
|
|
$ |
7,282,215 |
|
Less: intercompany sales |
|
|
(36,580 |
) |
|
|
— |
|
|
|
— |
|
|
|
(36,580 |
) |
Total sales to external customers |
|
|
6,158,971 |
|
|
|
1,086,664 |
|
|
|
— |
|
|
|
7,245,635 |
|
Cost of goods sold |
|
|
5,140,867 |
|
|
|
447,027 |
|
|
|
— |
|
|
|
5,587,894 |
|
Segment gross profit |
|
|
1,018,104 |
|
|
|
639,637 |
|
|
|
— |
|
|
|
1,657,741 |
|
Selling and engineering expenses |
|
|
84,196 |
|
|
|
— |
|
|
|
189,733 |
|
|
|
273,930 |
|
Administrative expenses |
|
|
485,437 |
|
|
|
7,789 |
|
|
|
820,411 |
|
|
|
1,313,637 |
|
Operating income (loss) |
|
|
448,470 |
|
|
|
631,848 |
|
|
|
(1,010,144 |
) |
|
|
70,174 |
|
Other income |
|
|
— |
|
|
|
339,520 |
|
|
|
11,687 |
|
|
|
351,207 |
|
Income before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
421,381 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
289,799 |
|
|
|
27,429 |
|
|
|
— |
|
|
|
317,228 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
|
42,683 |
|
|
|
— |
|
|
|
- |
|
|
|
42,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
|
4,154,075 |
|
|
|
708,961 |
|
|
|
- |
|
|
|
4,863,036 |
|
Inventories, net |
|
|
5,510,050 |
|
|
|
1,538,011 |
|
|
|
- |
|
|
|
7,048,061 |
|
Property, plant and equipment, net |
|
|
9,236,351 |
|
|
|
1,224,258 |
|
|
|
- |
|
|
|
10,460,609 |
|
Other assets |
|
|
- |
|
|
|
- |
|
|
|
1,699,351 |
|
|
|
1,699,351 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
24,071,057 |
|
(1) Includes a one-time gain of $339,520 from the sale of the Albia manufacturing facility in February 2025.
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|
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|
|
|
|
Fastener |
|
|
Assembly
Equipment |
|
|
Other |
|
|
Consolidated |
|
Three Months Ended March 31, 2024 |
|
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
6,733,294 |
|
|
$ |
1,129,327 |
|
|
$ |
- |
|
|
$ |
7,862,621 |
|
Less: intercompany sales |
|
|
(9,440 |
) |
|
|
- |
|
|
|
- |
|
|
|
(9,440 |
) |
Total sales to external customers |
|
|
6,723,854 |
|
|
|
1,129,327 |
|
|
|
- |
|
|
|
7,853,181 |
|
Cost of goods sold |
|
|
6,318,280 |
|
|
|
790,339 |
|
|
|
- |
|
|
|
7,108,619 |
|
Segment gross profit |
|
|
405,574 |
|
|
|
338,988 |
|
|
|
- |
|
|
|
744,562 |
|
Selling and engineering expenses |
|
|
97,999 |
|
|
|
- |
|
|
|
180,095 |
|
|
|
278,094 |
|
Administrative expenses |
|
|
696,699 |
|
|
|
16,367 |
|
|
|
656,705 |
|
|
|
1,369,771 |
|
Operating (loss) income |
|
|
(389,124 |
) |
|
|
322,621 |
|
|
|
(836,800 |
) |
|
|
(903,303 |
) |
Other income |
|
|
- |
|
|
|
- |
|
|
|
28,469 |
|
|
|
28,469 |
|
Loss before income taxes |
|
|
|
|
|
|
|
|
|
|
$ |
(874,834 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
|
293,381 |
|
|
|
29,484 |
|
|
|
540 |
|
|
$ |
323,405 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures |
|
|
54,222 |
|
|
|
38,863 |
|
|
|
- |
|
|
$ |
93,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Assets: |
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|
|
|
|
|
|
|
|
|
|
|
Accounts receivable, net |
|
|
4,871,135 |
|
|
|
592,582 |
|
|
|
- |
|
|
|
5,463,717 |
|
Inventories, net |
|
|
5,227,398 |
|
|
|
1,519,277 |
|
|
|
- |
|
|
|
6,746,675 |
|
Property, plant and equipment, net |
|
|
9,159,982 |
|
|
|
1,195,183 |
|
|
|
1,020,133 |
|
|
|
11,375,298 |
|
Other assets |
|
|
- |
|
|
|
- |
|
|
|
4,207,043 |
|
|
|
4,207,043 |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
27,792,733 |
|
|
| Schedule of Revenue by Segment Information |
The following table presents revenue by segment, further disaggregated by end-market:
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|
|
|
|
|
|
|
|
|
|
Fastener |
|
|
Assembly
Equipment |
|
|
Consolidated |
|
Three Months Ended March 31, 2025: |
|
|
|
|
|
|
|
|
|
Automotive |
|
$ |
3,798,658 |
|
|
$ |
42,111 |
|
|
$ |
3,840,769 |
|
Non-automotive |
|
|
2,360,313 |
|
|
|
1,044,553 |
|
|
|
3,404,866 |
|
Total net sales |
|
$ |
6,158,971 |
|
|
$ |
1,086,664 |
|
|
$ |
7,245,635 |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2024: |
|
|
|
|
|
|
|
|
|
Automotive |
|
$ |
4,629,190 |
|
|
$ |
48,665 |
|
|
$ |
4,677,955 |
|
Non-automotive |
|
|
2,094,564 |
|
|
|
1,080,662 |
|
|
|
3,175,226 |
|
Total net sales |
|
$ |
6,723,854 |
|
|
$ |
1,129,327 |
|
|
$ |
7,853,181 |
|
The following table presents revenue by segment, further disaggregated by location:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fastener |
|
|
Assembly
Equipment |
|
|
Consolidated |
|
Three Months Ended March 31, 2025: |
|
|
|
|
|
|
|
|
|
United States |
|
$ |
4,775,167 |
|
|
$ |
915,692 |
|
|
$ |
5,690,859 |
|
Foreign |
|
|
1,383,804 |
|
|
|
170,972 |
|
|
|
1,554,776 |
|
Total net sales |
|
$ |
6,158,971 |
|
|
$ |
1,086,664 |
|
|
$ |
7,245,635 |
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, 2024: |
|
|
|
|
|
|
|
|
|
United States |
|
$ |
5,435,993 |
|
|
$ |
1,109,221 |
|
|
$ |
6,545,214 |
|
Foreign |
|
|
1,287,861 |
|
|
|
20,106 |
|
|
|
1,307,967 |
|
Total net sales |
|
$ |
6,723,854 |
|
|
$ |
1,129,327 |
|
|
$ |
7,853,181 |
|
|