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Note 2 - Revenue Recognition | 3 Months Ended
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Jun. 30, 2020
Notes to Financial Statements |
Revenue from Contract with Customer [Text Block] | Note 2. Revenue Recognition We design, manufacture, market, sell, and maintain quality control instruments and software, consumables, and services driven primarily by the regulatory requirements of niche markets. Our consumables, such as biological indicator test strips are typically used on a standalone basis; however, some, that are used in protein synthesis and calibration solutions, are also critical to the ongoing use of our instruments. Hardware and software sales, such as medical meters, protein synthesizers, wireless sensor systems, and data loggers are generally driven by our acquisition of new customers, growth of existing customers, or customers' replacement of existing equipment. Hardware sales may be offered with perpetual or annual software licenses, which in some cases are required for the hardware to function. Our newly acquired division, Biopharmaceutical Development, designs, manufactures, markets, and sells instruments, such as protein synthesizers that are used to process immunoassay samples and related software designed to enhance productivity; consumable chemical solutions designed for use in testing; and on-demand and long-term service contracts to support customers use of the equipment. The division generates revenue from the same general categories as those we have identified for the rest of our business and recognizes revenue consistently with our policies. We evaluate our revenues internally by product line, timing of revenue generation, and the nature of goods and services provided. Typically, discrete revenue is recognized at the shipping point or upon completion of the service, while contracted revenue is recognized over a period of time reflective of the performance obligation period in the applicable contract. Consumables are typically used on a one-time basis requiring frequent replacement in our customer's operating cycle. Substantially all of our revenues and related receivables are generated from contracts with customers that are 12 months or less in duration. The following tables present disaggregated revenues for the three months ended June 30, 2020 and three months ended June 30, 2019 respectively:
|  | Three Months Ended June 30, 2020 |
|  | Sterilization and Disinfection Control |  |  | Instruments |  |  | Biopharmaceutical Development |  |  | Continuous Monitoring |  |  | Corporate and Other |  |  | Total |
Discrete Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumables |  | $ | 11,484 |  |  | $ | 808 |  |  | $ | 1,939 |  |  | $ | 30 |  |  | $ | - |  |  | $ | 14,261 |
Hardware and Software |  |  | 129 |  |  |  | 5,020 |  |  |  | 2,556 |  |  |  | 1,955 |  |  |  | - |  |  |  | 9,660 |
Services |  |  | 250 |  |  |  | 1,852 |  |  |  | 782 |  |  |  | 531 |  |  |  | - |  |  |  | 3,415 |
Contracted Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Services |  |  | 1,204 |  |  |  | - |  |  |  | 672 |  |  |  | 729 |  |  |  | - |  |  |  | 2,605 |
Total Revenues |  | $ | 13,067 |  |  | $ | 7,680 |  |  | $ | 5,949 |  |  | $ | 3,245 |  |  | $ | - |  |  | $ | 29,941 |
|  | Three Months Ended June 30, 2019 |
|  | Sterilization and Disinfection Control |  |  | Instruments |  |  | Biopharmaceutical Development |  |  | Continuous Monitoring |  |  | Corporate and Other |  |  | Total |
Discrete Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumables |  | $ | 10,417 |  |  | $ | 1,020 |  |  | $ | - |  |  | $ | 11 |  |  | $ | 1,309 |  |  | $ | 12,757 |
Hardware and Software |  |  | 186 |  |  |  | 6,478 |  |  |  | - |  |  |  | 1,991 |  |  |  | 8 |  |  |  | 8,663 |
Services |  |  | 300 |  |  |  | 2,046 |  |  |  | - |  |  |  | 540 |  |  |  | - |  |  |  | 2,886 |
Contracted Revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Services |  |  | 1,207 |  |  |  | - |  |  |  | - |  |  |  | 775 |  |  |  | - |  |  |  | 1,982 |
Total Revenues |  | $ | 12,110 |  |  | $ | 9,544 |  |  | $ | - |  |  | $ | 3,317 |  |  | $ | 1,317 |  |  | $ | 26,288 |
Revenues from external customers are attributed to individual countries based upon locations to which the product is shipped or exported, as follows:
|  | Three Months Ended June 30, |
|  | 2020 |  |  | 2019 |
United States |  | $ | 16,372 |  |  | $ | 15,191 |
Foreign |  |  | 13,569 |  |  |  | 11,097 |
Total revenues |  | $ | 29,941 |  |  | $ | 26,288 |
No foreign country exceeds 10% of total revenues. Contract Balances Our contracts have varying payment terms and conditions. Some customers prepay for services, resulting in unearned revenues or customer deposits, called contract liabilities, which are included within other accrued expenses and unearned revenues in the accompanying Condensed Consolidated Balance Sheets. Contract assets would exist when sales are recorded (i.e. the control of the goods or services has been transferred to the customer), but customer payment is contingent on a future event besides the passage of time (such as satisfaction of additional performance obligations). We do not have any contract assets. Unbilled receivables, which are not classified as contract assets, represent arrangements in which sales have been recorded prior to billing and right to payment is unconditional. A summary of contract liabilities is as follows:
Contract liabilities balance as of March 31, 2020 |  | $ | 7,217 |
Prior year liabilities recognized in revenues during the three months ended June 30, 2020 |  |  | (1,907 | )
Contract liabilities added during the three months ended June 30, 2020, net of revenues recognized |  |  | 879 |
Contract liabilities balance as of June 30, 2020 |  | $ | 6,189 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(2) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 12 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045 + Details
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