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Revenue Recognition | 9 Months Ended
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Nov. 02, 2019
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | Note 3 – Revenue Recognition We derive revenue from the sale of (i) hardware, including digital color label printers and specialty OEM printing systems, portable data acquisition systems and airborne printers used in the flight deck and cabin of military, commercial and business aircraft, (ii) related supplies required in the operation of the hardware, (iii) repairs and maintenance of hardware and (iv) service agreements. Revenues disaggregated by primary geographic markets and major product types are as follows: Primary geographical markets:
|  | Three Months Ended |  |  | Nine Months Ended |
(In thousands) |  | November 2, 2019 |  |  | October 27, 2018 |  |  | November 2, 2019 |  |  | October 27, 2018 |
United States |  | $ | 21,831 |  |  | $ | 21,542 |  |  | $ | 64,471 |  |  | $ | 60,752 |
Europe |  |  | 7,059 |  |  |  | 7,573 |  |  |  | 22,408 |  |  |  | 23,292 |
Asia |  |  | 1,396 |  |  |  | 1,560 |  |  |  | 7,063 |  |  |  | 4,653 |
Canada |  |  | 1,441 |  |  |  | 1,860 |  |  |  | 4,346 |  |  |  | 5,836 |
Central and South America |  |  | 1,019 |  |  |  | 921 |  |  |  | 3,232 |  |  |  | 3,078 |
Other |  |  | 572 |  |  |  | 740 |  |  |  | 1,447 |  |  |  | 1,879 |
Total Revenue |  | $ | 33,318 |  |  | $ | 34,196 |  |  | $ | 102,967 |  |  | $ | 99,490 |
Major product types:
|  | Three Months Ended |  |  | Nine Months Ended |
(In thousands) |  | November 2, 2019 |  |  | October 27, 2018 |  |  | November 2, 2019 |  |  | October 27, 2018 |
Hardware |  | $ | 12,160 |  |  | $ | 13,096 |  |  | $ | 37,514 |  |  | $ | 37,989 |
Supplies |  |  | 17,655 |  |  |  | 18,107 |  |  |  | 55,463 |  |  |  | 52,690 |
Service and Other |  |  | 3,503 |  |  |  | 2,993 |  |  |  | 9,990 |  |  |  | 8,811 |
Total Revenue |  | $ | 33,318 |  |  | $ | 34,196 |  |  | $ | 1 02,967 |  |  | $ | 99,490 |
Contract Assets and Liabilities We normally do not have contract assets, which are primarily unbilled accounts receivable that are conditional on something other than the passage of time. Our contract liabilities, which represent billings in excess of revenue recognized, are related to advanced billings for purchased service agreements and extended warranties and were $387,000 and $373,000 at November 2, 2019 and January 31, 2019, respectively, and are recorded as deferred revenue in the condensed consolidated balance sheet. The Company recognized $279,000 of revenue during the nine month period ended November 2, 2019 , related to the deferred revenue balance at January 31, 2019. Contract Costs We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that certain costs related to obtaining sales contracts for our aerospace printer products meet the requirement to be capitalized. These costs are deferred and amortized based on the forecasted number of units sold over the estimated benefit term, which was estimated to be approximately 10 years. The balance of these contract assets at January 31, 2019 was $903,000. During the third quarter of the current year the Company recognized additional direct costs of $121,000. The Company amortized $82,000 of direct costs for the nine month s ended November 2, 2019 and the balance of deferred incremental direct costs net of accumulated amortization at November 2, 2019 was $942,000, of which $117,000 is reported in other current assets and $825,000 is reported in other assets in the accompanying condensed consolidated balance sheet. The remaining contract costs are expected to be amortized over the estimated remaining period of benefit, which we currently estimate to be approximately seven years.

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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 + Details
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