| Segment information |
Segment information for the three and six months ended September 30, 2019, and 2018, is set forth below:
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Three months ended September 30, 2019 |
(in thousands) |
|
IBW |
|
ISM |
|
CNS |
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Total |
Revenue |
|
$ |
2,618 |
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$ |
2,646 |
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$ |
2,305 |
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$ |
7,569 |
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Cost of revenue |
|
2,205 |
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|
1,604 |
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|
2,181 |
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|
5,990 |
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Gross profit |
|
413 |
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|
1,042 |
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|
124 |
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|
1,579 |
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Gross margin |
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15.8 |
% |
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39.4 |
% |
|
5.4 |
% |
|
20.9 |
% |
Research and development |
|
403 |
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|
619 |
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|
427 |
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|
1,449 |
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Segment profit |
|
$ |
10 |
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$ |
423 |
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$ |
(303 |
) |
|
130 |
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Operating expenses: |
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Sales and marketing |
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2,259 |
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General and administrative |
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1,249 |
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Intangible amortization |
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308 |
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Operating profit (loss) |
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(3,686 |
) |
Other income, net |
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125 |
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Income tax benefit (expense) |
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— |
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Net income (loss) from continuing operations |
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$ |
(3,561 |
) |
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Three months ended September 30, 2018 |
(in thousands) |
|
IBW |
|
ISM |
|
CNS |
|
Total |
Revenue |
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$ |
3,646 |
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$ |
2,646 |
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$ |
3,814 |
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$ |
10,106 |
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Cost of revenue |
|
1,954 |
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|
1,224 |
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|
2,735 |
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|
5,913 |
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Gross profit |
|
1,692 |
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|
1,422 |
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|
1,079 |
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|
4,193 |
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Gross margin |
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46.4 |
% |
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53.7 |
% |
|
28.3 |
% |
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41.5 |
% |
Research and development |
|
867 |
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|
558 |
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|
418 |
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|
1,843 |
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Segment profit |
|
$ |
825 |
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$ |
864 |
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$ |
661 |
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|
2,350 |
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Operating expenses: |
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Sales and marketing |
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1,876 |
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General and administrative |
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1,400 |
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Intangible amortization |
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|
832 |
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Operating profit (loss) |
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(1,758 |
) |
Other income, net |
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165 |
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Income tax benefit (expense) |
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(10 |
) |
Net income (loss) from continuing operations |
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$ |
(1,603 |
) |
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Six months ended September 30, 2019 |
(in thousands) |
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IBW |
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ISM |
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CNS |
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Total |
Revenue |
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$ |
5,541 |
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$ |
5,741 |
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$ |
5,289 |
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$ |
16,571 |
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Cost of revenue |
|
4,156 |
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|
3,120 |
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|
4,470 |
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|
11,746 |
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Gross profit |
|
1,385 |
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|
2,621 |
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|
819 |
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|
4,825 |
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Gross margin |
|
25.0 |
% |
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45.7 |
% |
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15.5 |
% |
|
29.1 |
% |
Research and development |
|
802 |
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|
1,320 |
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|
883 |
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|
3,005 |
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Segment profit |
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$ |
583 |
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$ |
1,301 |
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$ |
(64 |
) |
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1,820 |
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Operating expenses: |
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Sales and marketing |
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4,591 |
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General and administrative |
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2,613 |
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Intangible amortization |
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|
616 |
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Operating profit (loss) |
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(6,000 |
) |
Other income, net |
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|
289 |
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Income tax benefit (expense) |
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(7 |
) |
Net income (loss) |
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$ |
(5,718 |
) |
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Six months ended September 30, 2018 |
(in thousands) |
|
IBW |
|
ISM |
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CNS |
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Total |
Revenue |
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$ |
7,203 |
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$ |
8,390 |
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$ |
7,550 |
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$ |
23,143 |
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Cost of revenue |
|
3,849 |
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|
4,020 |
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|
5,146 |
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|
13,015 |
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Gross profit |
|
3,354 |
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|
4,370 |
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|
2,404 |
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|
10,128 |
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Gross margin |
|
46.6 |
% |
|
52.1 |
% |
|
31.8 |
% |
|
43.8 |
% |
Research and development |
|
1,389 |
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|
1,127 |
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|
759 |
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3,275 |
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Segment profit (loss) |
|
$ |
1,965 |
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$ |
3,243 |
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$ |
1,645 |
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|
6,853 |
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Operating expenses: |
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Sales and marketing |
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4,013 |
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General and administrative |
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2,934 |
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Intangible amortization |
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1,822 |
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Operating profit (loss) |
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(1,916 |
) |
Other income, net |
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|
284 |
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Income tax benefit (expense) |
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(10 |
) |
Net income (loss) |
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$ |
(1,642 |
) |
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