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Revenue (Tables)
 12 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Cumulative Effects Made to the Balance Sheet for ASC 606 Adoption
The cumulative effects of the changes made to the Consolidated Balance Sheet as of January 1, 2018 for the adoption of ASC 606 were as follows:
(in thousands)
 
As Reported
 
Adjustments due to ASC 606
 
As Restated
 
 
December 31, 2017
 
 
January 1, 2018
Assets
 
 
 
 
 
 
Inventories, net
 
$
86,724

 
(5,159
)
 
81,565

Prepaid expenses and other current assets
 
14,359

 
6,166

 
20,525

 
 
 
 
 
 
 
Liabilities and Stockholders' Equity
 
 
 
 
 
 
Other accrued liabilities*
 
$
34,332

 
(706
)
 
33,626

Accumulated deficit
 
(82,147
)
 
1,713

 
(80,434
)
*
The Company recorded adjustments to reflect a portion of the accrued product warranty liability within Other accrued liabilities to Other noncurrent liabilities at December 31, 2017 to conform the presentation to the current period. See Note 1. Summary of Significant Accounting Policies and Other Information for additional discussion of the adjustment. The adjustment had no impact on the adoption of ASC 606.
Impact on Consolidated Financial Statements
The following table summarizes the effects of the adoption of ASC 606 on selected line items within the Consolidated Statement of Operations for the year ended December 31, 2018:
(in thousands)
As Reported ASC 606
 
Impact of ASC 606
 
ASC 605
Net sales
$
496,038

 
$
(1,995
)
 
$
498,033

Cost of sales
437,269

 
(573
)
 
437,842

Gross profit
58,769

 
(1,422
)
 
60,191

Operating loss
(36,705
)
 
(1,422
)
 
(35,283
)
Loss before income taxes
(54,557
)
 
(1,422
)
 
(53,135
)
Net loss
(54,726
)
 
(1,422
)
 
(53,304
)
Net loss available to common stockholders
(54,726
)
 
(1,422
)
 
(53,304
)
Net loss per common share:
 
 
 
 
 
Basic
(2.94
)
 
(0.08
)
 
(2.86
)
Diluted
(2.94
)
 
(0.08
)
 
(2.86
)
The following table summarizes the effects of the adoption of ASC 606 on selected line items within the Consolidated Balance Sheet as of December 31, 2018:
(in thousands)
 
As Reported ASC 606
 
Impact of ASC 606
 
ASC 605
Assets
 
 
 
 
 
 
Inventories, net
 
$
105,614

 
$
(4,586
)
 
$
110,200

Prepaid expenses and other current assets
 
22,917

 
2,926

 
19,991

Liabilities and Stockholders' Equity
 
 
 
 
 
 
Other accrued liabilities
 
$
45,700

 
$
(1,952
)
 
$
47,652

Accumulated deficit
 
(135,160
)
 
292

 
(135,452
)
Revenue from External Customers by Geographic Areas
The following table summarizes net sales by end market:
 
 
For the Quarter Ended (Unaudited)
 
For the Year Ended
(in thousands)
 
March 31,
June 30,
September 30,
December 31,
 
December 31,
End Market
 
2018
2018
2018
2018
 
2018
Industrial
 
$
45,719

$
48,051

$
52,367

$
55,059

 
$
201,196

Energy
 
38,567

52,014

48,481

46,623

 
185,685

Transportation
 
10,127

27,008

35,470

36,552

 
109,157

Total
 
$
94,413

$
127,073

$
136,318

$
138,234

 
$
496,038


The following table summarizes net sales by geographic area:
 
 
For the Quarter Ended (Unaudited)
 
For the Year Ended
(in thousands)
 
March 31,
June 30,
September 30,
December 31,
 
December 31,
Geographic Area
 
2018
2018
2018
2018
 
2018
North America
 
$
79,947

$
111,444

$
120,955

$
123,722

 
$
436,068

Pacific Rim
 
10,339

11,516

10,913

9,303

 
42,071

Europe
 
3,315

3,621

3,012

3,795

 
13,743

Other
 
812

492

1,438

1,414

 
4,156

Total
 
$
94,413

$
127,073

$
136,318

$
138,234

 
$
496,038
Schedule of Contract Balances
(in thousands)
 
December 31, 2018
 
January 1, 2018
Short-term contract assets (included in Prepaid expenses and other current assets)
 
$
2,926

 
$
6,166

Short-term contract liabilities (included in Other accrued liabilities)
 
(4,897
)
 
(1,299
)
Long-term contract liabilities (included in Other noncurrent liabilities)
 
(14,611
)
 
(2,767
)
Net contract assets (liabilities)
 
$
(16,582
)
 
$
2,100