v3.25.1
Segment Information
 3 Months Ended
Apr. 30, 2025
Segment Reporting [Abstract]  
Segment Information

Note 17 – Segment Information

Our operations consist of the design, development, manufacture and sale of specialty printers and data acquisition and analysis systems, including both hardware and software and related consumable supplies. We organize and manage our business as a portfolio of products and services designed around a common theme of data acquisition and information output.

We have two reporting segments consistent with our revenue product groups: Product ID and Aerospace . Effective February 1, 2025, we changed the name of our Test & Measurement segment to “Aerospace” to better reflect the end markets we serve in that segment. The segment name change did not result in any change to the composition of our reportable segments and, therefore, did not

result in any changes to our historical segment results or the way our chief operating decision maker (“CODM”) allocates resources or makes decisions.

Our Product ID segment produces an array of high-technology digital color and monochrome label printers, commercial presses, direct to package/overprint printers, mail and sheet/flatpack printers and flexible packaging printers as well as supplies for a variety of industries worldwide. Our Aerospace segment produces our line of aerospace flight deck and cabin printers, as well as specialty airborne certified networking equipment and related supplies and services. The Aerospace segment also includes data acquisition systems used worldwide for a variety of recording, monitoring and troubleshooting applications for many industries including aerospace, defense, rail, energy, industrial and general manufacturing.

Our CODM has been identified as the President and Chief Executive Officer. The CODM regularly receives and uses discrete financial information about each reporting segment which is used for performance assessments and resource allocation decisions. The CODM evaluates the performance of and allocates resources to the reporting segments based on segment profit or loss, which represents the segments’ income (loss) before income taxes and excludes corporate expenses. The accounting policies of the reporting segments are the same as those described in the summary of significant accounting policies included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2025.

The CODM does not evaluate reportable segment asset or liability information, and as such, assets are reported on a consolidated basis only.

Business is conducted in the United States and through foreign branch offices and subsidiaries in Canada, Europe, China, Southeast Asia and Mexico. Manufacturing activities are primarily conducted in the United States. Revenue and service activities outside the United States are conducted through wholly owned entities and, to a lesser extent, through authorized distributors and agents. Transfer prices are intended to produce gross profit margins as would be associated with an arms-length transaction.

 

Summarized below are the Revenue and Segment Operating Profit for each reporting segment:

 

 

Three Months
Ended

 

($ in thousands)

 

April 30,
2025

 

 

April 27,
2024

 

Revenue:

 

 

 

 

 

 

  Product ID

 

$

26,289

 

 

$

23,185

 

  Aerospace

 

 

11,419

 

 

 

9,776

 

     Total Revenue

 

$

37,708

 

 

$

32,961

 

 

 

 

 

 

 

 

Cost of Revenue:

 

 

 

 

 

 

  Product ID

 

$

17,561

 

 

$

14,859

 

  Aerospace

 

 

7,495

 

 

 

6,130

 

     Total Cost of Revenue

 

$

25,056

 

 

$

20,989

 

 

 

 

 

 

 

 

Operating Expenses:

 

 

 

 

 

 

  Product ID (1)

 

$

5,937

 

 

$

5,335

 

  Aerospace(1)

 

 

1,160

 

 

 

1,924

 

     Total Operating Expenses

 

$

7,097

 

 

$

7,259

 

 

 

 

 

 

 

 

 Segment Operating Income:

 

 

 

 

 

 

  Product ID

 

$

2,791

 

 

$

2,991

 

  Aerospace

 

 

2,764

 

 

 

1,722

 

     Total Segment Operating Income

 

$

5,555

 

 

$

4,713

 

 

 

 

 

 

 

 

   Corporate Expense (2)

 

 

(4,984

)

 

 

(3,367

)

Operating Income

 

$

571

 

 

$

1,346

 

Interest Expense

 

 

(897

)

 

 

(482

)

Other Income (Expense) (3)

 

 

25

 

 

 

(117

)

Income (Loss) Before Income Taxes

 

$

(301

)

 

$

747

 

Income Tax Provision (Benefit)

 

 

75

 

 

 

(434

)

Net Income (Loss)

 

$

(376

)

 

$

1,181

 

 

 

 

 

 

 

 

(1) Product ID and Aerospace segment operating expenses include Selling and Marketing and Research and Development.

(2) The amounts included in Corporate Expenses consist of executive and finance compensation, acquisition and integration costs, restructuring costs, professional fees as well as certain other non-recurring costs not allocated to the reporting segments.

(3) Includes gain/(loss) on foreign exchange and other miscellaneous income/(expense) not allocated to the reporting segments.

Revenue by product type for each reporting segment:

 

 

 

 

 

 

 

April 30,

 

 

April 27,

 

($ in thousands)

2025

 

 

2024

 

  Product ID :

 

 

 

 

 

     Hardware

$

4,776

 

 

$

3,802

 

     Supplies

 

19,877

 

 

 

17,581

 

     Other

 

1,636

 

 

 

1,802

 

        Total Product ID Revenue

 

26,289

 

 

 

23,185

 

  Aerospace:

 

 

 

 

 

     Hardware

 

6,519

 

 

 

5,073

 

     Supplies

 

1,204

 

 

 

1,053

 

     Other

 

3,696

 

 

 

3,650

 

       Total Aerospace Revenue

 

11,419

 

 

 

9,776

 

       Total Revenue

$

37,708

 

 

$

32,961

 

Other information by segment is presented below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation and Amortization

 

 

Capital Expenditures

 

 

 

April 30,

 

 

April 27,

 

 

April 30,

 

 

April 27,

 

(In thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Product ID

 

$

973

 

 

$

591

 

 

$

60

 

 

$

492

 

Aerospace

 

 

317

 

 

 

320

 

 

 

—

 

 

 

—

 

Total

 

$

1,290

 

 

$

911

 

 

$

60

 

 

$

492