Quarterly report pursuant to Section 13 or 15(d)

Revenue, Segment and Geographic Information

v3.21.1
Revenue, Segment and Geographic Information
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Revenue, Segment and Geographic Information

NOTE 12 – REVENUE, SEGMENT AND GEOGRAPHIC INFORMATION

The Company operates in two reportable segments: the design and manufacture of high-performance customized computers and flash arrays, which is inclusive of in-flight entertainment & connectivity, and value-added reseller with minimal customization. The Company evaluates financial performance on a company-wide basis.  As of June 1, 2020, CDI’s operations became fully integrated and combined with the operation of OSS’ core business operations located in Escondido, California.  It is the Company’s intention to dissolve CDI as a standalone entity upon resolution of certain outstanding items.

Segment detail for the three month periods ended March 31, 2021 and 2020 is as follows:

 

 

 

For the Three Months Ended March 31, 2021

 

 

For the Three Months Ended March 31, 2020

 

 

 

OSS

 

 

Bressner

 

 

Total

 

 

OSS

 

 

Bressner

 

 

Total

 

Revenues

 

$

8,601,971

 

 

$

4,713,781

 

 

$

13,315,752

 

 

$

8,440,224

 

 

$

4,919,413

 

 

$

13,359,637

 

Cost of revenues

 

 

(5,341,362

)

 

 

(3,541,606

)

 

 

(8,882,968

)

 

 

(6,120,909

)

 

 

(3,843,041

)

 

 

(9,963,950

)

Gross profit

 

 

3,260,609

 

 

 

1,172,175

 

 

 

4,432,784

 

 

 

2,319,315

 

 

 

1,076,372

 

 

 

3,395,687

 

Gross margin %

 

 

37.9

%

 

 

24.9

%

 

 

33.3

%

 

 

27.5

%

 

 

21.9

%

 

 

25.4

%

Total operating expenses

 

 

(3,251,785

)

 

 

(905,968

)

 

 

(4,157,753

)

 

 

(3,986,209

)

 

 

(920,632

)

 

 

(4,906,841

)

Income from operations

 

$

8,824

 

 

$

266,207

 

 

$

275,031

 

 

$

(1,666,894

)

 

$

155,740

 

 

$

(1,511,154

)

Revenue from customers with non-U.S. billing addresses represented approximately 66% and 50%, of the Company’s revenue during the three month periods ended March 31, 2021 and 2020, respectively.

 

As of March 31, 2021, substantially all the Company’s long-lived assets were located in the United States of America with the exception of assets of $215,961 located in Germany.