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Note 12 - Segment Reporting
 9 Months Ended
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%