XML 52 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Warranty
3 Months Ended
Mar. 31, 2013
Warranty  
Warranty

 

 

Note 9 — Warranty

 

The Company provides a warranty for most of its products.  Warranties are for periods ranging from ninety days to one year, and cover parts and labor for non-maintenance repairs, at our locations. Operator abuse, improper use, alteration, damage resulting from accident, or failure to follow manufacturer’s directions are excluded from warranty coverage.

 

Warranty expense is accrued at the time of sale based on historical claims experience.  Warranty reserves are also accrued for special rework campaigns for known major product modifications.  The Company also offers extended warranty service contracts for select products when the factory warranty period expires.

 

Warranty provisions and claims for the three-month periods ended March 31, 2013 and 2012 were as follows:

 

 

 

Three Months Ended
March 31,

 

 

 

2013

 

2012

 

Beginning balance

 

$

240,621

 

$

205,506

 

Warranty provisions

 

122,889

 

35,826

 

Warranty claims

 

(118,241

)

(61,007

)

Ending balance

 

$

245,269

 

$

180,325