XML 21 R11.htm IDEA: XBRL DOCUMENT v3.23.2
Note 3 - Revenue
 6 Months Ended
Jun. 30, 2023
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

NOTE 3 – REVENUE

 

Disaggregation of Revenue

 

The following tables disaggregate total net sales by end market and geographic location:

 

   

End market

  
   

Three Months Ended
June 30,

    

Six Months Ended
June 30,

  
   

2023

    

2022

    

2023

    

2022

  

Industrial

   $ 22,786     $ 18,664     $ 43,731     $ 36,518  

Fire

     36,935       27,904       73,074       56,326  

Agriculture

     5,027       5,195       9,776       10,207  

Construction

     11,921       10,073       22,949       19,238  

Municipal

     19,549       16,950       36,973       31,257  

Petroleum

     3,719       2,631       7,739       6,173  

OEM

     9,480       9,300       18,490       18,031  

Repair parts

     18,722       14,809       35,912       29,943  

Total net sales excluding Fill-Rite

     128,139       105,526       248,644       207,693  

Fill-Rite

     42,885       13,541       82,846       13,541  

Total net sales

   $ 171,024     $ 119,067     $ 331,490     $ 221,234  

 

 

    Geographic Location  
    Three Months Ended
June 30,		    

Six Months Ended
June 30,

  
    2023     2022    

2023

    

2022

  

United States

   $ 128,289     $ 85,375     $ 248,039     $ 157,766  

Foreign countries

     42,735       33,692       83,451       63,468  

Total net sales

   $ 171,024     $ 119,067     $ 331,490     $ 221,234  

 

International sales represented approximately 25% and 28% of total net sales for the second quarter of 2023 and 2022, respectively, and were made to customers in many different countries around the world.

 

On June 30, 2023, the Company had $249.8 million of remaining performance obligations, also referred to as backlog. The Company expects to recognize as revenue substantially all of its remaining performance obligations within one year.

 

The Company’s contract assets and liabilities as of June 30, 2023 and December 31, 2022 were as follows:

 

   

June 30,
2023

    

December 31,
2022

  

Contract assets

   $ -     $ -  

Contract liabilities

   $ 9,097     $ 6,740  

 

Revenue recognized for the six months ended June 30, 2023 and 2022 that was included in the contract liabilities balance at the beginning of the period was $3.7 million and $8.2 million, respectively.