Significant Customers

12 Months Ended

Dec. 31, 2015

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 years ended December 31, 2015, 2014 and 2012, the Company had two customers that accounted for a significant portion of its revenues: Avnet Europe Comm VA (“Avnet”), the Company’s primary distributor of its IIoT products in Europe, and Enel Distribuzione Spa ("Enel"), an Italian utility company. For the years ended December 31, 2015, 2014 and 2013 the percentage of the Company’s revenues attributable to sales made to these customers was as follows:



	Year ended December 31,
	2015	2014	2013
Avnet	24.5%	26.2%	26.6%
Enel	12.7%	7.7%	16.1%
Total	37.2%	33.9%	42.7%

Avnet is an indirect subsidiary of Avnet, Inc., a New York corporation, which is a distributor of electronic parts, enterprise computing and storage products, and embedded subsystems. Our agreement with Avnet has been renewed periodically and is now set to expire in May 2016.

We do not expect additional shipments to Enel in 2016 apart from those currently scheduled for the quarter ending March 31, 2016. As such, we expect our revenues from Enel will decrease significantly in 2016 as compared to 2015.