Quarterly report pursuant to Section 13 or 15(d)

Concentrations

v3.10.0.1
Concentrations
9 Months Ended
Sep. 30, 2018
Risks And Uncertainties [Abstract]  
Concentrations

NOTE 12—CONCENTRATIONS

Revenue from the Company’s products for the three and nine months ended September 30, 2018 and 2017 are as follows (dollars in thousands):

 

 

Three Months Ended

 

 

 

 

 

Nine Months Ended

 

 

September 30,

 

 

 

 

 

September 30,

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Laser systems

$

7,055

 

 

64.5

%

 

$

6,335

 

 

58.6

%

 

$

20,678

 

 

62.5

%

 

$

21,026

 

 

61.3

%

Imaging systems

 

382

 

 

3.5

%

 

 

1,103

 

 

10.2

%

 

 

1,336

 

 

4.0

%

 

 

2,683

 

 

7.8

%

Consumables and other

 

1,902

 

 

17.4

%

 

 

1,751

 

 

16.2

%

 

 

6,239

 

 

18.9

%

 

 

5,494

 

 

16.0

%

Services

 

1,594

 

 

14.6

%

 

 

1,585

 

 

14.7

%

 

 

4,848

 

 

14.6

%

 

 

4,993

 

 

14.6

%

License fees and royalties

 

3

 

 

0.0

%

 

 

32

 

 

0.3

%

 

 

9

 

 

0.0

%

 

 

96

 

 

0.3

%

Total revenue

$

10,936

 

 

100.0

%

 

$

10,806

 

 

100.0

%

 

$

33,110

 

 

100.0

%

 

$

34,292

 

 

100.0

%

 

No individual customer represented more than 10% of the Company’s revenue for the three and nine months ended September 30, 2018 or 2017.

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.

No individual customer represented more than 10% of the Company’s accounts receivable at September 30, 2018 or December 31, 2017.

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.