Quarterly report pursuant to Section 13 or 15(d)

Accrued Liabilities

v3.20.2
Accrued Liabilities
6 Months Ended
Jun. 30, 2020
Payables And Accruals [Abstract]  
Accrued Liabilities

NOTE 8—ACCRUED LIABILITIES

Accrued liabilities are comprised of the following (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Payroll and benefits

 

$

1,656

 

 

$

1,726

 

Warranty accrual, current portion

 

 

660

 

 

 

865

 

Lease liability

 

 

218

 

 

 

323

 

Accrued professional services

 

 

415

 

 

 

330

 

Taxes

 

 

19

 

 

 

242

 

Accrued insurance premium

 

 

 

 

 

546

 

Other

 

 

581

 

 

 

712

 

Total accrued liabilities

 

$

3,549

 

 

$

4,744

 

 

Changes in the initial product warranty accrual and the expenses incurred under the Company’s initial and extended warranties for the three and six months ended June 30, 2020 and 2019 are included within accrued liabilities and other liabilities in the Consolidated Balance Sheets and were as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months

 

 

 

June 30,

 

 

June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Balance, beginning of period

 

$

1,158

 

 

$

1,384

 

 

$

1,110

 

 

$

1,308

 

Provision for estimated warranty cost

 

 

(261

)

 

 

383

 

 

 

(18

)

 

 

622

 

Warranty expenditures

 

 

(43

)

 

 

(268

)

 

 

(238

)

 

 

(431

)

Balance, end of period

 

 

854

 

 

 

1,499

 

 

 

854

 

 

 

1,499

 

Less warranty accrual, long-term

 

 

194

 

 

 

735

 

 

 

194

 

 

 

735

 

Total warranty accrual, current portion

 

$

660

 

 

$

764

 

 

$

660

 

 

$

764

 

 

The Company’s Waterlase laser systems sold worldwide are covered by a warranty against defects in material and workmanship for a period of up to 16 months domestically and up to 28 months internationally, from the date of sale by the Company or a distributor to the end-user. The Company’s Diode systems sold worldwide are covered by a warranty against defects in material and workmanship for a period of up to 28 months from the date of sale by the Company or a distributor to the end-user.