Significant Customers

3 Months Ended

Mar. 31, 2014

5. Significant Customers:

The Company markets its products and services throughout the world to original equipment manufacturers (OEMs) and systems integrators in the building, industrial, transportation, utility/home, and other automation markets. During the three months ended March 31, 2014 and 2013, the Company had five customers that accounted for a significant portion of its revenues: Avnet Europe Comm VA (“Avnet”), the Company’s primary distributors of its IIoT products in Europe, Duke Energy Corporation (“Duke”), a U.S. utility company; Enel Distribuzione Spa ("Enel"), an Italian utility company; and Ubitronix System Solutions GmBh ("Ubitronix") and Telvent Energia y Medioambiente SA (“Telvent”), value added resellers of the Company’s Grid products. For the three months ended March 31, 2014 and 2013, the percentage of the Company’s revenues attributable to sales made to these customers was as follows:



		Three Months Ended
	Segment	March 31,
		2014		2013
Avnet	IIoT	16.9	%	12.7	%
Enel	IIoT	8.7	%	7.5	%
Ubitronix	Grid	8.3	%	12.7	%
Duke	Grid	6.9	%	9.3	%
Telvent	Grid	4.5	%	22.0	%
Total		45.3	%	64.2	%

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

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