XML 16 R6.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS
9 Months Ended
Sep. 30, 2011
CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS 
CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

NOTE 2.  CONCENTRATION OF CREDIT RISK AND MAJOR CUSTOMERS

 

Financial instruments that potentially subject us to concentrations of credit risk consist principally of cash and accounts receivable.  With regard to cash, we maintain our excess cash balances in checking accounts at one high-credit quality financial institution.  These accounts may at times exceed federally insured limits.  We grant credit to customers in the normal course of business and do not require collateral on our accounts receivable.

 

One customer accounted for 10% or more of our net sales for the three and nine months ended September 30, 2011 and 2010.  G.E.’s Medical Division accounted for 18% and 16% of net sales for the three and nine months ended September 30, 2011, respectively.  G.E.’s Medical Division accounted for 17% and 18% of net sales for the three and nine months ended September 30, 2010.  GE’s Transportation Division accounted for 9% and 8% of net sales for the three and nine months ended September 30, 2011, respectively.  GE’s Transportation Division accounted for 6% and 8% of net sales for the three and nine months ended September 30, 2010, respectively.  GE’s Medical and Transportation Divisions combined accounted for 28% and 24% of net sales for the three and nine month periods ended September 30, 2011, respectively.  GE’s Medical and Transportation Divisions combined accounted for 23% and 27% of net sales for the three and nine month periods ended September 30, 2010.  Accounts receivable from G.E.’s Medical and Transportation Divisions represented 18% and 14% of total accounts receivable at September 30, 2011 and December 31, 2010, respectively.

 

Export sales represented 6% of consolidated net sales for the three and nine months ended September 30, 2011.  Export sales represented 6% and 5% of consolidated net sales for the three and nine months ended September 30, 2010, respectively.