Quarterly report pursuant to Section 13 or 15(d)

Concentration of Credit Risk

v3.10.0.1
Concentration of Credit Risk
9 Months Ended
Sep. 30, 2018
Risks And Uncertainties [Abstract]  
Concentration of Credit Risk

Note 14. Concentration of Credit Risk

(a)

Concentration of Sales and Accounts Receivable

The following represents customers that accounted for 10% or more of total revenue during the three and nine months ended September 30, 2018 and 2017 and customers that accounted for 10% or more of total trade accounts receivable at September 30, 2018 and 2017.

 

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Percentage of net revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer A

 

38%

 

 

24%

 

 

35%

 

 

22%

 

Customer B

 

 

9

 

 

 

14

 

 

 

8

 

 

 

14

 

Customer C

 

 

7

 

 

 

11

 

 

 

7

 

 

 

11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30,

 

 

 

 

 

 

 

 

 

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

Percentage of gross trade accounts receivable

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer A

 

24%

 

 

22%

 

 

 

 

 

 

 

 

 

Customer B

 

 

16

 

 

 

2

 

 

 

 

 

 

 

 

 

Customer C

 

 

13

 

 

 

5

 

 

 

 

 

 

 

 

 

Customer D

 

 

10

 

 

 

16

 

 

 

 

 

 

 

 

 

 

(b)

Revenue by Geography

Net revenue by geographic area are as follows. Revenue is attributed by geographic location based on the bill-to location of the Company’s customers.

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

Percentage of net revenue

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

China

 

79%

 

 

71%

 

 

73%

 

 

68%

 

 

Other Asia

 

 

5

 

 

 

4

 

 

 

6

 

 

 

13

 

 

North America

 

 

13

 

 

 

19

 

 

 

16

 

 

 

14

 

 

Europe

 

 

3

 

 

 

6

 

 

 

5

 

 

 

5

 

 

 

Although the Company ships the majority of antennas to its customers in China (primarily Original Design Manufacturers and distributors), the end-users of the Company’s products are much more geographically diverse.

(c)

Concentration of Purchases

During the three and nine months ended September 30, 2018, primarily all of the Company’s products were manufactured by two vendors in China and by the Company’s facilities in Arizona.  During the three and nine months ended September 30, 2017, all of the Company’s products were manufactured by two vendors in China and by the Company’s facilities in Wisconsin and Arizona.