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Revenue Recognition | 3 Months Ended
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May 02, 2020
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, airborne printers and networking systems 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 |
(In thousands) |  | May 2, 2020 |  |  | May 4, 2019 |
United States |  | $ | 19,789 |  |  | $ | 21,992 |
Europe |  |  | 7,450 |  |  |  | 7,875 |
Canada |  |  | 1,428 |  |  |  | 1,516 |
Asia |  |  | 1,009 |  |  |  | 3,450 |
Central and South America |  |  | 954 |  |  |  | 888 |
Other |  |  | 289 |  |  |  | 460 |
Total Revenue |  | $ | 30,919 |  |  | $ | 36,181 |
Major product types:
|  | Three Months Ended |
(In thousands) |  | May 2, 2020 |  |  | May 4, 2019 |
Hardware |  | $ | 8,914 |  |  | $ | 12,918 |
Supplies |  |  | 19,118 |  |  |  | 19,727 |
Service and Other |  |  | 2,887 |  |  |  | 3,536 |
Total Revenue |  | $ | 30,919 |  |  | $ | 36,181 |
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. Contract liabilities were $375,000 and $466,000 at May 2, 2020 and January 31, 2020, respectively, and are recorded as deferred revenue in the condensed consolidated balance sheet. We recognized $225,000 of revenue during the three - month period ended May 2, 2020, related to the deferred revenue balance at January 31, 2020. 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 remaining benefit term, which we currently estimate to be approximately 6 years. The balance of these contract assets at January 31, 2020 was $944,000. We amortized $15,000 of direct costs for the three months ended May 2, 2020 and the balance of deferred incremental direct costs net of accumulated amortization at May 2, 2020 was $929,000, of which $59,000 is reported in other current assets and $870,000 is reported in other assets in the accompanying condensed consolidated balance sheet.

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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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