Sales to Major Customers
|6 Months Ended|
Jun. 27, 2020
|Risks and Uncertainties [Abstract]|
|Sales to Major Customers||Sales to Major Customers
The Company has a significant concentration of business with two 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 two customers represented 14% and 9% of consolidated sales for the six months ended and 11% and 8% for the three months ended June 27, 2020. Sales to these customers were primarily in the Aerospace segment. Accounts receivable from these customers at June 27, 2020 was approximately $19.6 million. Sales to these two customers represented 13% and 14% of consolidated sales for the six months ended and 14% and 13% for the three months ended June 29, 2019.
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