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Note 12 - Segment Reporting | 9 Months Ended
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Sep. 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 15.4% and 16.8% for the three- and nine-month periods ended September 30, 2023, respectively. Revenues shipped to customers outside of the United States comprised approximately 18.0% and 16.0% for the three- and nine-month periods ended September, 2022, respectively. One customer comprised 30.3% and 24.7% of the Company’s consolidated revenues for the three- and nine-month periods ended September 30, 2023, respectively. One customer comprised 25.1% and 20.5% of the Company’s consolidated revenues for the three- and nine-month periods ended September 30, 2022, respectively. At September 30, 2023, two customers represented approximately 17.9% and 10.5%, respectively, of gross accounts receivable. At December 31, 2022, one customer represented approximately 10.5% of gross accounts receivable. Approximately 16.5% and 17.0% of all long-lived assets are located outside of the United States at September 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 nine-month periods ended September 30, 2023 and 2022 are as follows (in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Market |  | Net Sales |  |  | % |  |  | Net Sales |  |  | % |  |  | Net Sales |  |  | % |  |  | Net Sales |  |  | % |
Medical |  | $ | 87,127 |  |  |  | 86.5 | % |  | $ | 81,591 |  |  |  | 84.2 | % |  | $ | 257,092 |  |  |  | 86.1 | % |  | $ | 208,464 |  |  |  | 79.4 | %
Aerospace & Defense |  |  | 4,377 |  |  |  | 4.3 | % |  |  | 3,590 |  |  |  | 3.7 | % |  |  | 12,828 |  |  |  | 4.3 | % |  |  | 11,097 |  |  |  | 4.2 | %
Automotive |  |  | 4,378 |  |  |  | 4.3 | % |  |  | 4,681 |  |  |  | 4.8 | % |  |  | 12,821 |  |  |  | 4.3 | % |  |  | 13,383 |  |  |  | 5.1 | %
Industrial / Other |  |  | 4,902 |  |  |  | 4.9 | % |  |  | 7,108 |  |  |  | 7.3 | % |  |  | 15,834 |  |  |  | 5.3 | % |  |  | 29,611 |  |  |  | 11.3 | %
Net Sales |  | $ | 100,784 |  |  |  | 100.0 | % |  | $ | 96,970 |  |  |  | 100.0 | % |  | $ | 298,575 |  |  |  | 100.0 | % |  | $ | 262,555 |  |  |  | 100.0 | %

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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