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Concentrations of Risk
 12 Months Ended
Dec. 28, 2024
Risks and Uncertainties [Abstract]  
Concentrations of Risk

7. Concentrations of Risk

 

Ongoing credit evaluations of customers’ financial condition are performed and collateral, such as letters of credit, are generally not required. Customer’s accounts receivable balance as a percentage of total accounts receivable was as follows:

 

   Percent of Gross Accounts Receivable 
Customer  December 28, 2024   December 30, 2023 
Collins Aerospace   7%   28%
DRS Network & Imaging Systems, LLC   69%   27%

 

The Company had product sales to defense customers for 2024, 2023 and 2022 of 82%, 56% 52% of total revenues.

 

The Company had revenue from funded research and development contracts for 2024, 2023, and 2022 of 12%, 33% and 30% of total revenues.

 

Sales to significant customers for fiscal years 2024, 2023 and 2022, as a percentage of total revenues, is as follows:

 

   Sales as a Percent of Total Revenue 
   Fiscal Year 
   2024   2023   2022 
Customer               
DRS Network & Imaging Systems, LLC   65%   33%   40%
Collins Aerospace   11%   27%   28%

 

Note: The caption “Defense Customers in Total” excludes research and development contracts.

 

 

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)