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Supplier and Customer Concentrations | 12 Months Ended
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Jun. 30, 2020
Risks and Uncertainties [Abstract] |
Supplier and Customer Concentrations | The Company utilizes a number of glass compositions in manufacturing its molded glass aspheres and lens array products. These glasses or equivalents are available from a large number of suppliers, including CDGM Glass Company Ltd., Ohara Corporation, and Sumita Optical Glass, Inc. Base optical materials, used in certain of the Company’s specialty products, are manufactured and supplied by a number of optical and glass manufacturers. The Company also utilizes major infrared material suppliers located around the globe for a broad spectrum of infrared crystal and glass. The Company believes that a satisfactory supply of such production materials will continue to be available, at reasonable prices or, in some cases, at increased prices, although there can be no assurance in this regard. In fiscal 2020, the Company had sales to three customers that comprised an aggregate of approximately 31% of its annual revenue, and 30% of its accounts receivable. Sales to these customers as a percentage of our fiscal 2020 revenue include one customer at 15%, another customer at 10%, and the third customer at 6%. One of these customers comprised 18% of accounts receivable, and the other two customers were each less than 10% of accounts receivable as of June 30, 2020. In fiscal 2019, the Company had sales to three customers that comprised an aggregate of approximately 32% of its annual revenue, and 39% of its accounts receivable. Sales to these customers as a percentage of our fiscal 2019 revenue include one customer at 17%, another customer at 8%, and the third customer at 7%. One of these customers comprised 20% of accounts receivable, a second customer comprised 11% of accounts receivable and the other customer was less than 10% of accounts receivable as of June 30, 2019. In both fiscal 2020 and 2019, these top three customers include a distributor, which actually represents sales to numerous customers. The loss of any of these customers, or a significant reduction in sales to any such customer, would adversely affect the Company’s revenues. In fiscal 2020, 66% of the Company’s net revenue was derived from sales outside of the U.S., with 96% of foreign sales derived from customers in Europe and Asia. In fiscal 2019, 62% of the Company’s net revenue was derived from sales outside of the U.S., with 94% of foreign sales derived from customers in Europe and Asia.

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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