Wayside Technology Group, Inc. - FORM 10-Q - XML - IDEA: XBRL DOCUMENT - November 3, 2011

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v2.3.0.15
Segment Reporting
9 Months Ended
Sep. 30, 2011
Segment Reporting 
Segment Reporting

14.           ASC Topic 280, “Segment Reporting,” requires that public companies report profits and losses and certain other information on their “reportable operating segments” in their annual and interim financial statements. The internal organization used by the public company’s Chief Operating Decision Maker (CODM) to assess performance and allocate resources determines the basis for reportable operating segments. The Company’s CODM is the Chief Executive Officer.

 

The Company is organized into two reportable operating segments — the “TechXtend” segment (formerly the Programmer’s Paradise” segment), which sells technical software, hardware and services directly to end-users (such as individual programmers, corporations, government agencies, and educational institutions) and the “Lifeboat” segment, which distributes technical software to corporate resellers, value added resellers (VARs), consultants and systems integrators.

 

As permitted by ASC Topic 280, the Company has utilized the aggregation criteria in combining its operations in Canada with the domestic segments as the Canadian operations provide the same products and services to similar clients and are considered together when the Company’s CODM decides how to allocate resources.

 

Segment income is based on segment revenue less the applicable segment’s cost of revenues as well as segment direct costs (including such items as payroll costs and payroll related costs, such as profit sharing, incentive awards and insurance) and excluding general and administrative expenses not attributed to an individual segment business unit. The Company only identifies accounts receivable and inventory by segment as shown below as “Selected Assets”; it does not allocate its other assets, including capital expenditures by segment.

 

The following segment reporting information of the Company is provided (in thousands):

 

 

 

Nine months ended

 

Three months ended

 

 

 

September 30

 

September 30,

 

 

 

2011

 

2010

 

2011

 

2010

 

Revenue:

 

 

 

 

 

 

 

 

 

TechXtend

 

$

38,330

 

$

38,456

 

$

14,623

 

$

14,583

 

Lifeboat

 

137,621

 

103,338

 

49,118

 

38,411

 

 

 

175,951

 

141,794

 

63,741

 

52,994

 

Gross Profit:

 

 

 

 

 

 

 

 

 

TechXtend

 

$

4,366

 

$

4,359

 

$

1,652

 

$

1,703

 

Lifeboat

 

11,817

 

9,428

 

4,105

 

3,431

 

 

 

16,183

 

13,787

 

5,757

 

5,134

 

Direct Costs:

 

 

 

 

 

 

 

 

 

TechXtend

 

$

2,192

 

$

2,137

 

$

732

 

$

742

 

Lifeboat

 

3,403

 

2,720

 

1,135

 

914

 

 

 

5,595

 

4,857

 

1,867

 

1,656

 

Segment Income:

 

 

 

 

 

 

 

 

 

TechXtend

 

$

2,174

 

$

2,222

 

$

920

 

$

961

 

Lifeboat

 

8,414

 

6,708

 

2,970

 

2,517

 

Segment Income

 

10,588

 

8,930

 

3,890

 

3,478

 

 

 

 

 

 

 

 

 

 

 

Corporate general and administrative expenses

 

$

5,040

 

$

4,514

 

$

1,598

 

$

1,525

 

Interest income

 

264

 

316

 

92

 

104

 

Foreign currency translation gain

 

1

 

3

 

—

 

—

 

Income before taxes

 

$

5,813

 

$

4,735

 

$

2,384

 

$

2,057

 

 

 

 

 

 

 

 

 

 

 

Selected Assets By Segment:

 

 

 

 

 

 

 

 

 

TechXtend

 

$

23,311

 

 

 

 

 

 

 

Lifeboat

 

24,474

 

 

 

 

 

 

 

Corporate assets

 

15,821

 

 

 

 

 

 

 

Segment Selected Assets

 

$

63,606

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