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REVENUE (Tables)
9 Months Ended
Dec. 31, 2019
Schedule of Disaggregation of Revenue

The following table presents net sales on a disaggregated basis by market and contract type:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Sales by market

    

Defense

    

Energy

    

Industrial

    

Totals

Three months ended December 31, 2019

 

$

3,200,671

 

$

373,357

 

$

93,248

 

$

3,667,276

Three months ended December 31, 2018

 

$

4,196,944

 

$

33,790

 

$

39,662

 

$

4,270,396

Nine months ended December 31, 2019

 

$

9,725,635

 

$

450,914

 

$

899,071

 

$

11,075,620

Nine months ended December 31, 2018

 

$

11,507,854

 

$

267,794

 

$

214,756

 

$

11,990,404

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Sales by contract type

    

Over-time

    

Point-in-time

    

 

    

Totals

Three months ended December 31, 2019

 

$

3,439,367

 

$

227,909

 

 

 

 

$

3,667,276

Three months ended December 31, 2018

 

$

4,086,713

 

$

183,683

 

 

 

 

$

4,270,396

Nine months ended December 31, 2019

 

$

9,104,395

 

$

1,971,225

 

 

 

 

$

11,075,620

Nine months ended December 31, 2018

 

$

11,314,599

 

$

675,805

 

 

 

 

$

11,990,404

 

Schedule of Contract Assets

At December 31, 2019 contract assets consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: Progress

 

 

Contract assets

    

Unbilled

    

payments

    

Total

December 31, 2019

 

$

8,870,887

 

$

5,069,959

 

$

3,800,928

March 31, 2019

 

$

9,324,361

 

$

4,933,529

 

$

4,390,832

 

Sales [Member]  
Schedules of Concentration of Risk, by Risk Factor

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Three months ended

 

Nine months ended

 

Nine months ended

 

 

 

December 31, 2019

 

December 31, 2018

 

December 31, 2019

 

December 31, 2018

 

Customer

    

Amount

    

Percent

    

Amount

    

Percent

    

Amount

    

Percent

    

Amount

    

Percent

 

A

 

$

1,215,737

 

33

%  

$

1,124,294

 

26

%  

$

2,320,485

 

21

%  

$

2,117,342

 

18

%

B

 

$

727,084

 

20

%  

$

1,008,264

 

24

%  

$

1,825,213

 

16

%  

$

2,609,284

 

22

%

C

 

$

404,062

 

11

%  

$

*

 

*

%  

$

1,790,311

 

16

%  

$

*

 

*

%

D

 

$

*

 

*

%  

$

*

 

*

%  

$

1,148,242

 

10

%  

$

*

 

*

%

E

 

$

*

 

*

%  

$

1,183,208

 

28

%  

$

1,136,146

 

10

%  

$

4,293,047

 

36

%