Accounts receivable, net

12 Months Ended

Jul. 31, 2015

6. Accounts receivable, net

Customers

Our accounts receivable arise primarily from products sold and services provided in the U.S., Europe and Asia. The balance in accounts receivable represents the amount due from our domestic and foreign OEM customers, distributors and end users. The majority of our accounts receivable have standard payment terms that require payment within 30 days. We perform ongoing credit evaluations of our customers’ financial condition and continuously monitor collections and payments from our customers and maintain a provision for estimated credit losses based upon specific customer collection issues that have been identified. Amounts determined to be uncollectible are charged or written off against the reserve. To date, our historical write-offs of accounts receivable have been minimal.

Our ten largest customers as a group accounted for 64%, 66%, and 68% of our net product and engineering revenue for fiscal years 2015, 2014, and 2013, respectively. Set forth in the table below, are customers who individually accounted for 10% or more of our net revenue.


	For the Year ended July 31,
	2015			2014			2013
Koninklijke Philips Electronics N.V., or Philips		14	%		16	%		15	%
L-3 Communications Corporation, or L-3		13	%		11	%		12	%
Toshiba Corporation, or Toshiba		11	%		12	%		10	%
Siemens AG		11	%		11	%		*

Note(*):

Total net revenue was less than 10% in this fiscal year.

Philips’, Toshiba’s, and Siemens’ revenues were primarily in the Medical Imaging segment and L-3’s revenue was in the Security and Detection segment.

The following table summarizes the net accounts receivable due from our customers with net accounts receivable balances greater than or equal to 10% of our total net accounts receivable balance:


	As of July 31, 2015			As of July 31, 2014
L-3		17	%		16	%
Philips		16	%		16	%
Toshiba		*			11	%

Note(*):

Total net accounts receivable was less than 10% in this fiscal year.