Annual report pursuant to Section 13 and 15(d)

SEGMENT INFORMATION (Tables)

v3.10.0.1
SEGMENT INFORMATION (Tables)
12 Months Ended
Dec. 31, 2018
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following is information about reportable segment gains, losses and assets and are presented after the elimination of intra-segment revenues and expenses:
2018
Training and
Simulation
Division
 
Power Systems
Division
 
Corporate
 
Total Company
Revenues from outside customers
$
56,708,170

 
$
39,891,571

 
$

 
$
96,599,741

Depreciation and amortization expenses (1)
(801,480
)
 
(2,866,540
)
 

 
(3,668,020
)
Direct expenses (2)
(45,436,087
)
 
(39,968,413
)
 
(4,132,595
)
 
(89,537,095
)
Segment operating income (loss)
10,470,603

 
(2,943,382
)
 
(4,132,595
)
 
3,394,626

Total other expense
(250,112
)
 
(22,779
)
 
(688,139
)
 
(961,030
)
Income tax (expense) benefit
(292,599
)
 
211,080

 
(482,122
)
 
(563,641
)
Net income (loss)
$
9,927,892

 
$
(2,755,081
)
 
$
(5,302,856
)
 
$
1,869,955

Segment assets
$
54,964,358

 
$
59,763,603

 
$
3,235,684

 
$
117,963,645

Additions to long-lived assets
$
1,503,583

 
$
1,208,199

 
$

 
$
2,711,782

2017 (as restated)
Training and Simulation Division
 
Power Systems Division
 
Corporate
 
Total Company
Revenues from outside customers
$
50,254,324

 
$
48,468,354

 
$

 
$
98,722,678

Depreciation and amortization expenses (1)
(963,060
)
 
(3,073,365
)
 
(4,638
)
 
(4,041,063
)
Direct expenses (2)
(41,642,254
)
 
(46,608,518
)
 
(3,536,022
)
 
(91,786,794
)
Segment operating income (loss)
7,649,010

 
(1,213,529
)
 
(3,540,660
)
 
2,894,821

Total other expense
(125,168
)
 
(261,455
)
 
(698,192
)
 
(1,084,815
)
Income tax (expense) benefit
(41,391
)
 
(195,592
)
 
5,461,858

 
5,224,875

Net income (loss)
$
7,482,451

 
$
(1,670,576
)
 
$
1,223,006

 
$
7,034,881

Segment assets
$
52,075,040

 
$
61,216,020

 
$
3,107,116

 
$
116,398,176

Additions to long-lived assets
$
2,996,452

 
$
2,416,055

 
$

 
$
5,412,507

2016
Training and Simulation Division
 
Power Systems Division
 
Corporate
 
Total Company
Revenues from outside customers
$
46,358,794

 
$
46,616,958

 
$

 
$
92,975,752

Depreciation and amortization expenses (1)
(1,113,001
)
 
(3,531,851
)
 
(19,732
)
 
(4,664,584
)
Direct expenses (2)
(37,646,540
)
 
(43,730,381
)
 
(6,719,970
)
 
(88,096,891
)
Segment operating income (loss)
7,599,253

 
(645,274
)
 
(6,739,702
)
 
214,277

Total other expense
(31,967
)
 
(39,698
)
 
(838,766
)
 
(910,431
)
Income tax (expense) benefit
24,634

 
28,507

 
(836,561
)
 
(783,420
)
Net income (loss)
$
7,591,920

 
$
(656,465
)
 
$
(8,415,029
)
 
$
(1,479,574
)
Segment assets
$
43,740,316

 
$
58,955,828

 
$
6,444,053

 
$
109,140,197

Additions to long-lived assets
$
586,068

 
$
1,081,815

 
$

 
$
1,667,883

(1) 
Includes depreciation of property and equipment and amortization expenses of intangible assets. 
(2) 
Including, inter alia, sales and marketing, general and administrative, research and development and other income.
Schedule of Reconciliation of Revenue and Assets from Segments to Consolidated Table
The following discloses total revenues according to the locations of the Company’s end customers and long-lived assets as of and for the years ended December 31, 2018, 2017, and 2016:
 
2018
 
2017
 
2016
 
Total
revenues
 
Long-lived
Assets
 
Total
revenues
 
Long-lived
Assets
 
Total
revenues
 
Long-lived
assets
U.S.A.
$
76,295,942

 
$
49,437,609

 
$
71,543,220

 
$
50,361,031

 
$
72,645,752

 
$
49,883,172

Israel
9,188,632

 
10,080,452

 
17,631,139

 
10,258,698

 
13,944,078

 
8,308,931

Canada
2,017,304

 

 
1,147,679

 

 
2,435,134

 

Taiwan
435,759

 

 

 

 
690,080

 

Mexico
1,549,703

 

 
2,528,220

 

 
590,919

 

Japan

 

 
770,439

 

 
182,996

 

Germany
397,527

 

 
226,806

 

 
115,509

 

Italy
435,470

 

 
204,147

 

 

 

Jordan
490,882

 

 

 

 

 

Indonesia
295,072

 

 
384,928

 

 

 

Singapore
989,631

 

 
336,896

 

 

 

Thailand
597,355

 

 
91,375

 

 
1,725

 

Costa Rica
437,866

 

 

 

 

 

China
550,179

 

 
2,214,436

 

 

 

Other
2,918,419

 

 
1,643,393

 

 
2,369,559

 

 
$
96,599,741

 
$
59,518,061

 
$
98,722,678

 
$
60,619,729

 
$
92,975,752

 
$
58,192,103