Quarterly report pursuant to Section 13 or 15(d)

NOTE 4: SEGMENT INFORMATION (Tables)

v3.7.0.1
NOTE 4: SEGMENT INFORMATION (Tables)
3 Months Ended
Mar. 31, 2017
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment [Table Text Block]
The following is information about reported segment revenues, income (losses) from continuing operations, and total assets as of March 31, 2017 and 2016:

   
Training and
Simulation
Division
   
Power Systems
Division
   
Corporate
Expenses
   
Total
Company
 
Three months ended March 31, 2017
                       
Revenues from outside customers
 
$
10,351,189
   
$
11,996,256
   
$
   
$
22,347,445
 
Depreciation, amortization and impairment expenses(1)
   
(270,663
)
   
(845,711
)
   
(1,088
)
   
(1,117,462
)
Direct expenses(2)
   
(9,377,698
)
   
(11,091,332
)
 
$
(975,464
)
   
(21,444,494
)
Segment operating income (loss)
 
$
702,828
   
$
59,213
   
$
(976,552
)
 
$
(214,511
)
Financial expense
   
(12,668
)
   
(150,147
)
   
(171,042
)
   
(333,857
)
Income tax expense (benefit)
   
(35,000
)
   
43,696
     
(228,636
)
   
(219,940
)
Income (loss) from continuing operations
 
$
655,160
   
$
(47,238
)
 
$
(1,376,230
)
 
$
(768,308
)
Segment assets(3)(4)
 
$
43,049,400
   
$
60,776,389
   
$
6,186,003
   
$
110,011,792
 
Additions to long-lived assets
 
$
155,234
   
$
528,941
   
$
   
$
684,175
 

Three months ended March 31, 2016
                               
Revenues from outside customers
 
$
13,300,842
   
$
12,105,639
   
$
   
$
25,406,481
 
Depreciation, amortization and impairment expenses(1)
   
(272,660
)
   
(900,891
)
   
(1,487
)
   
(1,175,038
)
Direct expenses(2)
   
(10,927,734
)
   
(11,101,609
)
 
$
(2,033,120
)
   
(24,062,463
)
Segment operating income (loss)
 
$
2,100,448
   
$
103,139
   
$
(2,034,607
)
 
$
168,980
 
Financial expense
   
(11,061
)
   
(29,054
)
   
(297,543
)
   
(337,658
)
Income tax expense
   
(62,800
)
   
     
(150,653
)
   
(213,453
)
Income (loss) from continuing operations
 
$
2,026,587
   
$
74,085
   
$
(2,482,803
)
 
$
(382,131
)
Segment assets(3)(4)
 
$
51,101,611
   
$
60,327,299
   
$
2,470,729
   
$
113,899,639
 
Additions to long-lived assets
 
$
150,411
   
$
283,466
   
$
   
$
433,877
 
(1)
Includes depreciation of property and equipment and amortization expenses of intangible assets.
(2)
Including, inter alia, sales and marketing, general and administrative.
(3)
Out of those amounts, goodwill in the Company’s Training and Simulation and Power Systems Divisions totaled $24,435,640 and $21,402,711, respectively, as of March 31, 2017 and $24,435,640 and $21,178,653, respectively, as of March 31, 2016.
(4)
Cash balances previously reporting in the Training and Simulation Division in 2016 are now reported in Corporate in 2017.