Sales to Major Customers
|6 Months Ended|
Jun. 29, 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 six months ended and 13% and 14% for the three months ended June 29, 2019. Sales to these customers were primarily in the Aerospace segment. Accounts receivable from these customers at June 29, 2019 was approximately $44.6 million. Sales to these two customers represented 15% and 16% of consolidated sales for the six months ended and 14% and 12% for the three months ended June 30, 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