Quarterly report pursuant to Section 13 or 15(d)

Segment Analysis (Tables)

v3.20.1
Segment Analysis (Tables)
3 Months Ended
Jan. 31, 2020
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information

    Marine Technology Business (Products)     Marine Engineering Business (Services)     Overhead     Total  
                         
Three Months Ended January 31, 2020                                
                                 
Revenues from External Customers   $ 3,632,812     $ 3,048,167     $ -     $ 6,680,979  
                                 
Cost of Revenues     655,677       1,750,862       -       2,406,539  
                                 
Gross Profit     2,977,135       1,297,305       -       4,274,440  
                                 
Research & Development     556,729       206,438       165,098       928,265  
Selling, General & Administrative     867,998       636,296       387,384       1,891,678  
                                 
Total Operating Expenses     1,424,727       842,734       552,482       2,819,943  
                                 
Income (Loss) from Operations     1,552,408       454,571       (552,482 )     1,454,497  
                                 
Other Income (Expense)                                
                                 
Other Income     12,824       -       -       12,824  
Interest Expense     (3,232 )     (3,682 )     (12,700 )     (19,614 )
                                 
Total Other Income (Expense)     9,592       (3,682 )     (12,700 )     (6,790 )
                                 
Net Income (Loss) before Income Taxes     1,562,000       450,889       (565,182 )     1,447,707  
                                 
Income Tax Benefit (Expense)                                
Current Tax Benefit (Expense)     25,833       4,045       (53,225 )     (23,347 )
Deferred Tax Benefit (Expense)     (78,139 )     (12,235 )     12,787       (77,587 )
                                 
Total Income Tax Expense     (52,306 )     (8,190 )     (40,438 )     (100,934 )
                                 
Net Income (Loss)   $ 1,509,694     $ 442,699     $ (605,620 )   $ 1,346,773  
                                 
Supplemental Disclosures                                
                                 
Total Assets   $ 20,821,310     $ 14,520,371     $ 1,141,789     $ 36,483,470  
                                 
Total Liabilities   $ 1,835,184     $ 1,315,378     $ 1,273,611     $ 4,424,173  
                                 
Revenues from Intercompany Sales - eliminated from sales above   $ 302,822     $ 100,529     $ 675,000     $ 1,078,351  
                                 
Depreciation and Amortization   $ 182,993     $ 43,680     $ 5,291     $ 231,964  
                                 
Purchases of Long-lived Assets   $ 599,601     $ 9,593     $ 33,965     $ 643,159  

 

    Marine Technology Business (Products)     Marine Engineering Business (Services)     Overhead     Total  
                         
Three Months Ended January 31, 2019                                
                                 
Revenues from External Customers   $ 2,829,536     $ 2,928,972     $ -     $ 5,758,508  
                                 
Cost of Revenues     717,306       1,508,130       -       2,225,436  
                                 
Gross Profit     2,112,230       1,420,842       -       3,533,072  
                                 
Research & Development     471,425       32,549       67,352       571,326  
Selling, General & Administrative     754,660       594,046       270,569       1,619,275  
                                 
Total Operating Expenses     1,226,085       626,595       337,921       2,190,601  
                                 
Income (Loss) from Operations     886,145       794,247       (337,921 )     1,342,471  
                                 
Other Income (Expense)                                
                                 
Other Income     32,841       -       -       32,841  
Interest Expense     (2,474 )     (4,581 )     (18,006 )     (25,061 )
                                 
Total Other Income (Expense)     30,367       (4,581 )     (18,006 )     7,780  
                                 
Net Income (Loss) before Income Taxes     916,512       789,666       (355,927 )     1,350,251  
                                 
Current Tax Benefit     7,293       44,924       25,750       77,967  
Deferred tax Expense     (6,924 )     (115,867 )     (66,414 )     (189,205 )
                                 
Income benefit (expense)     369       (70,943 )     (40,664 )     (111,238 )
                                 
Net Income (Loss)   $ 916,881     $ 718,723     $ (396,591 )   $ 1,239,013  
                                 
Supplemental Disclosures                                
                                 
Total Assets   $ 16,709,072     $ 12,272,308     $ 2,075,952     $ 31,057,332  
                                 
Total Liabilities   $ 2,163,421     $ 1,328,238     $ 1,536,410     $ 5,028,069  
                                 
Revenues from Intercompany Sales - eliminated from sales above   $ 546,863     $ 55,206     $ 675,000     $ 1,277,069  
                                 
Depreciation and Amortization   $ 124,608     $ 66,290     $ 3,820     $ 194,718  
                                 
Purchases of Long-lived Assets   $ 916,023     $ 3,112     $ -     $ 919,135  

Schedule of Disaggregate of Revenue from Contracts for Sale with Customers by Geographic Location

    For the Three Months Ended January 31, 2020  
    Marine     Marine        
    Technology     Engineering     Grand  
    Business     Business     Total  
Disaggregation of Total Net Sales                  
                   
Americas                        
Equipment Sales   $ 334,388     $ -     $ 334,388  
Equipment Rentals     45,069       -       45,069  
Software Sales     7,250       -       7,250  
Engineering Parts     -       1,646,374       1,646,374  
Services     154,625       489,531       644,156  
Europe                        
Equipment Sales     338,147       -       338,147  
Equipment Rentals     52,644       -       52,644  
Software Sales     102,526       -       102,526  
Engineering Parts     -       906,855       906,855  
Services     125,700       5,407       131,107  
Australia/Asia                        
Equipment Sales     2,028,310       -       2,028,310  
Equipment Rentals     225,932       -       225,932  
Software Sales     119,999       -       119,999  
Services     47,119       -       47,119  
Middle East & Africa                        
Equipment Sales     22,074       -       22,074  
Equipment Rentals     -       -       -  
Software Sales     -       -       -  
Services     29,029       -       29,029  
                         
Total net sales   $ 3,632,812     $ 3,048,167     $ 6,680,979  

 

    For the Three Months Ended January 31, 2020  
    Marine     Marine        
    Technology     Engineering     Grand  
    Business     Business     Total  
Total Net Sales by Geographic Area                        
Americas   $ 541,332     $ 2,135,905     $ 2,677,237  
Europe     619,017       912,262       1,531,279  
Australia/Asia     2,421,360       -       2,421,360  
Middle East & Africa     51,103       -       51,103  
                         
Total net sales   $ 3,632,812     $ 3,048,167     $ 6,680,979  

  

    For the Three Months Ended January 31, 2020  
    Marine     Marine        
    Technology     Engineering     Grand  
    Business     Business     Total  
Total Net Sales by Product Line                        
Equipment Sales   $ 2,722,919     $ -     $ 2,722,919  
Equipment Rentals     323,645       -       323,645  
Software Sales     229,775       -       229,775  
Engineering Parts     -       2,553,229       2,553,229  
Services     356,473       494,938       851,411  
                         
Total Net Sales   $ 3,632,812     $ 3,048,167     $ 6,680,979  

 

    For the Three Months Ended January 31, 2019  
    Marine     Marine        
    Technology     Engineering     Grand  
    Business     Business     Total  
Disaggregation of Total Net Sales                  
                   
Americas                        
Equipment Sales   $ 47,550     $ 3,009     $ 50,559  
Equipment Rentals     53,483       -       53,483  
Software Sales     -       -       -  
Engineering Parts     -       2,190,192       2,190,192  
Services     83,527       316,152       399,679  
Europe                        
Equipment Sales     323,709       97,677       421,386  
Equipment Rentals     160,389       -       160,389  
Software Sales     89,575       -       89,575  
Engineering Parts     -       321,942       321,942  
Services     140,552       -       140,552  
Australia/Asia                        
Equipment Sales     1,192,319       -       1,192,319  
Equipment Rentals     257,918       -       257,918  
Software Sales     143,589       -       143,589  
Services     223,375       -       223,375  
Middle East & Africa                        
Equipment Sales     10,473       -       10,473  
Equipment Rentals     36,130       -       36,130  
Software Sales     20,987       -       20,987  
Services     45,960       -       45,960  
                         
Total Net Sales   $ 2,829,536     $ 2,928,972     $ 5,758,508  

 

    For the Three Months Ended January 31, 2019  
    Marine     Marine        
    Technology     Engineering     Grand  
    Business     Business     Total  
Total Net Sales by Geographic Area                        
Americas   $ 184,560     $ 2,509,353     $ 2,693,913  
Europe     714,225       419,619       1,133,844  
Australia/Asia     1,817,201       -       1,817,201  
Middle East & Africa     113,550       -       113,550  
                         
Total Net Sales   $ 2,829,536     $ 2,928,972     $ 5,758,508  

 

    For the Three Months Ended January 31, 2019  
    Marine     Marine        
    Technology     Engineering     Grand  
    Business     Business     Total  
Total Net Sales by Product Line                        
Equipment Sales   $ 1,574,051     $ 100,686     $ 1,674,737  
Equipment Rentals     507,920       -       507,920  
Software Sales     254,151       -       254,151  
Engineering Parts     -       2,512,134       2,512,134  
Services     493,414       316,152       809,566  
                         
Total Net Sales   $ 2,829,536     $ 2,928,972     $ 5,758,508