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Note 13 - Revenues
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Revenue from Contract with Customer [Text Block]

 

13.

Revenues

 

The following table represents a disaggregation of revenue from contracts with customers for the years ended December 31, 2020 and 2019:

 

  

Year Ended December 31,

 

(in thousands)

 

2020

  

2019

 

Instruments, equipment, software and accessories

 $97,473  $110,220 

Service, maintenance and warranty contracts

  4,627   5,956 

Total revenues

 $102,100  $116,176 

 

Deferred revenue

 

Changes in deferred revenue from service contracts and advance payments from customers for the years ended December 31, 2020 and 2019 were as follow:

 

  

Year Ended December 31, 2020

 
  

Service

  

Customer

     

(in thousands)

 

Contracts

  

Advances

  

Total

 

Balance, beginning of period

 $1,587  $2,362  $3,949 

Deferral of revenue

  3,329   1,302   4,631 

Recognition of deferred revenue

  (3,298

)

  (1,522

)

  (4,820

)

Effect of foreign currency translation

  11   -   11 

Balance, end of period

 $1,629  $2,142  $3,771 

 

  

Year Ended December 31, 2019

 
  

Service

  

Customer

     

(in thousands)

 

Contracts

  

Advances

  

Total

 

Balance, beginning of period

 $1,659  $2,161  $3,820 

Deferral of revenue

  2,152   1,095   3,247 

Recognition of deferred revenue

  (2,233

)

  (894

)

  (3,127

)

Effect of foreign currency translation

  9   -   9 

Balance, end of period

 $1,587  $2,362  $3,949 

 

Allowance for Doubtful Accounts

 

Allowance for doubtful accounts is based on the Company’s assessment of the collectability of customer accounts. A rollforward of allowance for doubtful accounts is as follows:

 

  

Year Ended December 31,

 

(in thousands)

 

2020

  

2019

 

Balance, beginning of period

 $325  $332 

Bad debt expense

  17   288 

Charge-offs and other recoveries

  (124

)

  (293

)

Effect of foreign currency translation

  9   (2

)

Balance, end of period

 $227  $325 

 

Concentrations

 

No customer accounted for more than 10% of the revenues for the years ended December 31, 2020, and 2019. At December 31, 2020 and 2019, no customer accounted for more than 10% of net accounts receivable.

 

Warranties

 

Warranties are estimated and accrued at the time revenues are recorded. A rollforward of the Company’s product warranty accrual is as follows:

 

  

Beginning

      

(Charges)\

  

Ending

 

(in thousands)

 

Balance

  

Additions

  

Credits

  

Balance

 

Year ended December 31, 2019

 $391   10   (149

)

 $252 

Year ended December 31, 2020

 $252   77   (143

)

 $186