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Note 2 - Revenue
 6 Months Ended
Jun. 30, 2024
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

NOTE 2 – 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,

  
   

2024

    

2023

    

2024

    

2023

  

Industrial

   $ 34,570     $ 35,762     $ 68,130     $ 69,077  

Fire

     28,959       36,935       61,249       73,074  

Agriculture

     21,381       22,980       41,787       44,057  

Construction

     21,907       22,436       43,389       43,273  

Municipal

     26,206       19,549       46,419       36,973  

Petroleum

     5,451       5,160       11,353       10,634  

OEM

     11,684       9,480       19,842       18,490  

Repair parts

     19,355       18,722       36,612       35,912  

Total net sales

   $ 169,513     $ 171,024     $ 328,781     $ 331,490  

 

   

Geographic Location

  
    Three Months Ended
June 30,		    

Six Months Ended
June 30,

  
   

2024

    

2023

    

2024

    

2023

  

United States

   $ 127,021     $ 128,289     $ 241,596     $ 248,039  

Foreign countries

     42,492       42,735       87,185       83,451  

Total net sales

   $ 169,513     $ 171,024     $ 328,781     $ 331,490  

 

The Company attributes revenues to individual countries based on the customer location to which finished products are shipped. International sales represented approximately 25% of total net sales for the second quarter of 2024 and 2023.

 

On June 30, 2024, the Company had $224.4 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, 2024 and December 31, 2023 were as follows:

 

   

June 30,
2024

    

December 31,
2023

  

Contract assets

   $ -     $ -  

Contract liabilities

   $ 10,784     $ 12,521  

 

Revenue recognized for the six months ended June 30, 2024 and 2023 that was included in the contract liabilities balance at the beginning of the period was $7.6 million and $3.7 million, respectively.