Sales to Major Customers
|9 Months Ended|
Sep. 29, 2018
|Risks and Uncertainties [Abstract]|
|Sales to Major Customers||Sales to Major Customers
The Company has a significant concentration of business with three major customers, each in excess of 10% of consolidated sales. The loss of either of these customers would significantly, negatively impact our sales and earnings.
Sales to these three customers represented 15%, 15%, and 12% of consolidated sales for the nine months ended and 13%, 14%, and 15% for the three months ended September 29, 2018. Sales to these customers were in the Aerospace and Test Systems segments. Accounts receivable from these customers at September 29, 2018 was approximately $74.1 million. Sales to these three customers represented 20%, 17%, and 4% of consolidated sales for the three and nine months ended September 30, 2017.
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef