• Filing Date: 2019-11-15
  • Form Type: 10-Q/A
  • Description: Quarterly report (Amendment)
v3.19.3
BUSINESS SEGMENTS
9 Months Ended
Sep. 30, 2019
Segment Reporting [Abstract]  
BUSINESS SEGMENTS

FASB ASC Topic 280, Segment Reporting, requires that an enterprise report selected information about reportable segments in its financial reports issued to its stockholders. Beginning with the first quarter of 2019, the Company changed its operating and reportable segments from one segment to two segments: the Technology Segment and the Professional Services Segment. The two segments reflect the Company’s separate focus on technology products and services versus professional services.

 

The Company provides general corporate services to its segments; however, these services are not considered when making operating decisions and assessing segment performance. These services are reported under “Corporate Services” below and these include costs associated with executive management, financing activities and public company compliance.

 

Summarized financial information concerning the Company’s reportable segments is presented below (dollars in thousands):

 

    Technology     Professional Services     Corporate Services     Consolidated  
                         
Three Months Ended September 30, 2019                        
Revenues   $ 1,536     $ 3,447     $ -     $ 4,983  
Gross profit     1,146       1,605       -       2,751  
Income (loss) from operations     (722 )     365       (1,724 )     (2,081 )
Loss from operations held for sale     -       (21 )     -       (21 )
                                 
Three Months Ended September 30, 2018                                
Revenues   $ 892     $ 5,015     $ -     $ 5,907  
Gross profit     487       2,454       -       2,941  
Income (loss) from operations     (83 )     446       (678 )     (315 )
Income from operations held for sale     -       77       -       77  
                                 
Nine Months Ended September 30, 2019                                
Revenues   $ 3,962     $ 10,922     $ -     $ 14,884  
Gross profit     2,810       5,054       -       7,864  
Loss from operations*     (1,312 )     (1,606 )     (3,971 )     (6,889 )
Loss from operations held for sale     -       (177 )     -       (177 )
* Including intangible assets impairment     -       1,549       -       1,549  
                                 
Nine Months Ended September 30, 2018                                
Revenues   $ 2,639     $ 12,632     $ -     $ 15,271  
Gross profit     1,538       6,199       -       7,737  
Loss from operations     (332 )     (48 )     (3,058 )     (3,438 )
Income from operations held for sale     -       148       -       148