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Note 3 - Revenue
 6 Months Ended
Jun. 30, 2020
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

3.

REVENUE

 

The following table provides information about disaggregated revenue by geographic region and sales channel, and includes a reconciliation of the disaggregated revenue to our reportable segments:

 

  

Three Months Ended June 30, 2020

  

Six Months Ended June 30, 2020

 
  Cinch Connectivity Solutions  Power Solutions and Protection  Magnetic Solutions  Consolidated  Cinch Connectivity Solutions  Power Solutions and Protection  Magnetic Solutions  Consolidated 
                                 

By Product Group:

                                

North America

 $27,608  $29,029  $7,097  $63,734  $57,310  $51,752  $14,204  $123,266 

Europe

  8,356   8,965   1,717   19,038   16,118   18,279   2,918   37,315 

Asia

  2,944   7,118   28,338   38,400   4,579   11,258   48,731   64,568 
  $38,908  $45,112  $37,152  $121,172  $78,007  $81,289  $65,853  $225,149 
                                 

By Sales Channel:

                                

Direct to customer

 $23,600  $26,894  $31,021  $81,515  $48,652  $48,471  $55,363  $152,486 
Through distribution  15,308   18,218   6,131   39,657   29,355   32,818   10,490   72,663 
  $38,908  $45,112  $37,152  $121,172  $78,007  $81,289  $65,853  $225,149 

 

 

  

Three Months Ended June 30, 2019

  

Six Months Ended June 30, 2019

 
  Cinch Connectivity Solutions  Power Solutions and Protection  Magnetic Solutions  Consolidated  Cinch Connectivity Solutions  Power Solutions and Protection  Magnetic Solutions  Consolidated 
                                 

By Product Group:

                                

North America

 $31,297  $26,131  $9,638  $67,066  $63,418  $49,652  $18,583  $131,653 

Europe

  8,212   10,768   2,046   21,026   16,977   23,307   4,267   44,551 

Asia

  3,027   7,129   29,168   39,324   6,502   13,841   56,258   76,601 
  $42,536  $44,028  $40,852  $127,416  $86,897  $86,800  $79,108  $252,805 
                                 

By Sales Channel:

                                

Direct to customer

 $28,207  $28,594  $34,641  $91,442  $57,812  $57,694  $67,158  $182,664 

Through distribution

  14,329   15,434   6,211   35,974   29,085   29,106   11,950   70,141 
  $42,536  $44,028  $40,852  $127,416  $86,897  $86,800  $79,108  $252,805 

 


The balances of the Company’s contract assets and contract liabilities at  June 30, 2020 and December 31, 2019 are as follows:

 

  

June 30,

  

December 31,

 
  

2020

  

2019

 
         

Contract assets - current (unbilled receivable)

 $15,334  $16,318 

Contract liabilities - current (deferred revenue)

 $1,148  $653 

 

 

The change in balance of our unbilled receivables from December 31, 2019 to June 30, 2020 primarily relates to a timing difference between the Company’s performance (i.e. when our product is shipped to a customer-controlled hub) and the point at which the Company can invoice the customer per the terms of the customer contract (i.e. when the customer pulls our product from the customer-controlled hub).

 

The aggregate amount of transaction price allocated to remaining performance obligations that have not been satisfied as of June 30, 2020 related to contracts that exceed one year in duration amounted to $15.2 million, with expected contract expiration dates that range from 2021 - 2025. It is expected that 27% of this aggregate amount will be recognized in 2021, 70% will be recognized in 2022 and the remainder will be recognized in years beyond 2022.