Quarterly report pursuant to Section 13 or 15(d)

BUSINESS SEGMENTS (Tables)

v3.21.1
BUSINESS SEGMENTS (Tables)
3 Months Ended
Mar. 31, 2021
BUSINESS SEGMENTS  
Summary of selected financial information for each segment

    

2021

    

2020

Revenues

 

Asset Management Solutions

 

Aircraft

$

10,452

$

14,238

Engine

 

18,800

 

16,593

 

29,252

 

30,831

Tech Ops

 

 

MRO Services

 

27,053

 

23,322

Product Sales

 

2,130

 

2,982

 

29,183

 

26,304

$

58,435

$

57,135

2021

2020

Gross Profit

 

 

Asset Management Solutions

 

 

Aircraft

$

4,463

$

3,662

Engine

 

9,124

 

8,105

 

13,587

 

11,767

Tech Ops

 

 

MRO Services

 

5,026

 

2,344

Product Sales

 

1,222

 

1,175

 

6,248

 

3,519

$

19,835

$

15,286

Summary of reconciles segment gross profit to net income

The following table reconciles segment gross profit to net income for the three months ended March 31, 2021 and 2020 (in thousands):

    

2021

    

2020

Segment gross profit

$

19,835

$

15,286

Selling, general and administrative expenses

 

(13,310)

 

(13,201)

Payroll support program proceeds

 

6,363

 

Transaction costs

 

 

(231)

Interest expense, net

 

(258)

 

(536)

Other income, net

 

94

 

57

Change in fair value of warrant liability

(224)

Income tax expense

 

(2,482)

 

(316)

Net income

$

10,018

$

1,059

Summary of intersegment revenues

    

2021

    

2020

Asset Management Solutions

$

1,447

$

269

Tech Ops

 

2,158

 

920

Total intersegment revenues

$

3,605

$

1,189