Revenues

3 Months Ended

Apr. 01, 2023

Revenue from Contract with Customer [Abstract]

Revenues

Revenues

Revenue Recognition

The following table disaggregates net revenue by geographic region from contracts with customers based on net revenues generated by subsidiaries within that geographic location (in thousands):

	Fiscal quarter ended    April 1, 2023								Fiscal quarter ended    April 2, 2022
	Sensors		Weighing Solutions		Measurement Systems		Total		Sensors		Weighing Solutions		Measurement Systems		Total
United States	$	12,674	$	14,879	$	10,661	$	38,214	$	13,006	$	14,078	$	10,465	$	37,549
United Kingdom	815		4,109		96		5,020		877		4,334		298		5,509
Other Europe	10,007		9,717		3,170		22,894		7,792		10,531		1,882		20,205
Israel	3,963		76		—		4,039		7,331		190		—		7,521
Asia	9,267		3,078		2,053		14,398		8,744		3,635		1,010		13,389
Canada	—		—		4,299		4,299		—		—		3,492		3,492
Total	$	36,726	$	31,859	$	20,279	$	88,864	$	37,750	$	32,768	$	17,147	$	87,665

The following table disaggregates net revenue from contracts with customers by market sector (in thousands).

	Fiscal quarter ended
	April 1, 2023		April 2, 2022
Test & Measurement	$	18,664	$	17,973
Avionics, Military & Space	11,707		8,162
Transportation	12,472		13,954
Other Markets	19,305		21,150
Industrial Weighing	11,026		13,209
General Industrial	4,798		5,866
Steel	10,892		7,351
Total	$	88,864	$	87,665

Contract Assets & Liabilities

Contract assets are established when revenues are recognized prior to a contractual payment due from the customer. When a payment becomes due based on the contract terms, the Company will reduce the contract asset and record a receivable. Contract liabilities are deferred revenues that are recorded when cash payments are received or due in advance of our performance obligations. Our payment terms vary by the type and location of the products offered. The term between invoicing and when payment is due is not significant.

The outstanding contract assets and liability accounts were as follows (in thousands):

	Contract Asset		Contract Liability
	Unbilled Revenue		Accrued Customer Advances
Balance at December 31, 2022	$	3,990	$	7,983
Balance at April 1, 2023	4,223		8,618
Increase	$	233	$	635

The amount of revenue recognized during the three fiscal months ended April 1, 2023 that was included in the contract liability balance at December 31, 2022 was $3.3 million