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Note 12 - Segment Reporting
 6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

(12)

Segment Reporting

 

The Company consists of a single operating and reportable segment.

 

Revenues shipped to customers outside of the United States comprised approximately 18.5 % and 17.6 % for the three- and six-month periods ended June 30, 2023, respectively. Revenues shipped to customers outside of the United States comprised approximately 16.9% and 14.8% for the three- and six-month periods ended June 30, 2022, respectively.

 

One customer comprised 24.7% and 22.7% of the Company’s consolidated revenues for the three- and six-month periods ended June 30, 2023, respectively. One customer comprised 20.2% and 17.8% of the Company’s consolidated revenues for the three-and-six month periods ended June 30, 2022, respectively.

 

At June 30, 2023, two customers represented approximately 23.8% of gross accounts receivable. At December 31, 2022, one customer represented approximately 10% of gross accounts receivable.

 

Approximately 18.6% and 17.0% of all long-lived assets are located outside of the United States at June 30, 2023 and December 31, 2022, respectively.

 

The Company’s products are primarily sold to customers within the Medical, Aerospace & Defense, Automotive, and Industrial/Other markets. Net sales by market for the three- and six-month periods ended June 30, 2023 and 2022 are as follows (in thousands):

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2023

  

2022

  

2023

  

2022

 

Market

 

Net Sales

  

%

  

Net Sales

  

%

  

Net Sales

  

%

  

Net Sales

  

%

 
                                 

Medical

 $86,150   86.1% $74,290   78.7% $169,965   85.9% $126,873   76.6%

Aerospace & Defense

  4,234   4.2%  3,751   4.0%  8,451   4.3%  7,507   4.5%

Automotive

  4,096   4.1%  4,351   4.6%  8,443   4.3%  8,702   5.3%

Industrial / Other

  5,557   5.6%  11,951   12.7%  10,931   5.5%  22,503   13.6%

Net Sales

 $100,037   100.0% $94,343   100.0% $197,790   100.0% $165,585   100.0%