16.

REVENUE:

The Company adopted ASC Topic

606,

“Revenue from Contracts with Customers,” (“Topic

606”

) on

January

2018

using the modified retrospective method applied to those contracts that were

not

completed as of that date. The cumulative effect of adopting Topic

606

was a

$0.9

million decrease to Retained earnings as of

January

2018

due to a change in the timing of revenue recognition on certain costs under the new revenue standard, as well as, to a lesser extent, a change in the costs included in the provisions for losses on uncompleted contracts. Under the modified retrospective method, periods prior to

January

2018

were

not

adjusted and continue to be reported in accordance with accounting standards in effect for those periods.

Net sales from continuing operations by geographic region, based on the location of the customer, were as follows (in thousands):

	Year Ended December 31,
	2019		2018		2017
Net sales from continuing operations by geographic region:
United States	$	252,797	$	161,415	$	122,179
Canada		26,520		10,734		10,601
Total	$	279,317	$	172,149	$	132,780

One

customer accounted for

23%

of total Net sales from continuing operations for the year ended

December

31,

2019.

customer accounted for

10%

or more of total Net sales from continuing operations for the years ended

December

31,

2018

2017.

Revisions in contract estimates resulted in a decrease in revenue of

$1.2

million,

$0.2

million, and

$0.2

million for the years ended

December

31,

2019,

2018,

and

2017,

respectively.

Contract Assets and Liabilities

The difference between the opening and closing balances of the Company’s Contract assets and Contract liabilities primarily results from the timing difference between the Company’s performance and billings, and during the year ended

December

31,

2018,

an increase due to the acquisition of Ameron of

$12.0

million of Contract assets and

$0.1

million of Contract liabilities. The changes in the Contract assets and Contract liabilities balances during the years ended

December

31,

2019,

2018,

and

2017

were

not

materially affected by any other factors.

The Company recognized revenue that was included in the contract liabilities balance at the beginning of each period of

$3.7

million,

$2.6

million, and

$1.9

million during the years ended

December

31,

2019,

2018,

and

2017,

respectively.

Backlog

Backlog represents the balance of remaining performance obligations under signed contracts. As of

December

31,

2019,

backlog was approximately

$199

million. The Company expects to recognize approximately

74%

of the remaining performance obligations in

2020

25%

2021

and the balance thereafter.