XML 31 R21.htm IDEA: XBRL DOCUMENT v3.19.2

REVENUE (Tables)

3 Months Ended

Jun. 30, 2019

Disaggregation of Revenue

The Company’s contract portfolio is comprised of fixed-price contracts and provide for product type sales only. The following table presents net sales on a disaggregated basis by market and contract type:

Net Sales by market		Defense				Energy				Industrial				Totals
Three months ended June 30, 2019		$	3,409,291			$	261,666			$	663,311			$	4,334,268
Three months ended June 30, 2018		$	3,809,087			$	261,430			$	28,306			$	4,098,823

Net Sales by contract type		Over-time				Point-in-time								Totals
Three months ended June 30, 2019		$	3,052,938			$	1,281,330							$	4,334,268
Three months ended June 30, 2018		$	3,838,927			$	259,896							$	4,098,823

Contract with Customer, Asset and Liability

At June 30, 2019 contract assets consisted of the following:

Contract assets		Unbilled				Progress payments				Total
June 30, 2019		$	8,771,341			$	(5,897,730	)		$	2,873,611
March 31, 2019		$	9,324,361			$	(4,933,529	)		$	4,390,832

Net Sales [Member]

Schedules of Concentration of Risk, by Risk Factor

		June 30, 2019								June 30, 2018
Customer		Amount				Percent				Amount				Percent
A		$	1,255,055				29	%		$	1,593,440				39	%
B		$	*				*	%		$	1,015,148				25	%
C		$	1,050,577				24	%		$	*				*	%
D		$	618,019				14	%		$	*				*	%
E		$	549,192				13	%		$	*				*	%

*Less than 10% of total 

X

- Definition

Tabular disclosure of contract balances and changes in contract balances.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130551-203045

+ Details

Name:	us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130545-203045

+ Details

Name:	us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13537-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=109250915&loc=d3e13531-108611

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6404-108592

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6327-108592

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6351-108592

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 275
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e6442-108592

+ Details

Name:	us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: