Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.19.2
Concentrations
6 Months Ended
Jun. 30, 2019
Risks And Uncertainties [Abstract]  
Concentrations

NOTE 13—CONCENTRATIONS

Revenue from the Company’s products for the three and six months ended June 30, 2019 and 2018 are as follows (dollars in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Laser systems

 

$

4,917

 

 

 

56.9

%

 

$

7,920

 

 

 

65.2

%

 

$

10,880

 

 

 

57.4

%

 

$

13,623

 

 

 

61.4

%

Imaging systems

 

 

63

 

 

 

0.7

%

 

 

371

 

 

 

3.1

%

 

 

615

 

 

 

3.2

%

 

 

954

 

 

 

4.3

%

Consumables and other

 

 

2,084

 

 

 

24.1

%

 

 

2,303

 

 

 

18.9

%

 

 

4,196

 

 

 

22.1

%

 

 

4,337

 

 

 

19.6

%

Services

 

 

1,578

 

 

 

18.3

%

 

 

1,557

 

 

 

12.8

%

 

 

3,273

 

 

 

17.3

%

 

 

3,254

 

 

 

14.7

%

License fees and royalties

 

 

3

 

 

 

%

 

 

3

 

 

 

%

 

 

7

 

 

 

%

 

 

6

 

 

 

%

Net revenue

 

$

8,645

 

 

 

100.0

%

 

$

12,154

 

 

 

100.0

%

 

$

18,971

 

 

 

100.0

%

 

$

22,174

 

 

 

100.0

%

 

No individual customer represented more than 10% of the Company’s total net revenue for the three and six months ended June 30, 2019 or 2018.

The Company maintains its cash and cash equivalent accounts with established commercial banks. Such cash deposits periodically exceed the Federal Deposit Insurance Corporation insured limit.

One individual customer represented more than 10% of the Company’s accounts receivable at June 30, 2019 and December 31, 2018.

The Company currently purchases certain key components of its products from single suppliers. Although there are a limited number of manufacturers of these key components, management believes that other suppliers could provide similar key components on comparable terms. A change in suppliers, however, could cause delays in manufacturing and a possible loss of sales, which could adversely affect the Company’s business, results of operations and financial condition.