Sales to Major Customers
|3 Months Ended|
Mar. 30, 2019
|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 13% of consolidated sales for the three months ended March 30, 2019. Sales to these customers were in the Aerospace and Test Systems segments. Accounts receivable from these customers at March 30, 2019 was approximately $43.4 million. Sales to these two customers represented 16% and 20% of consolidated sales for the three months ended March 31, 2018.
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