REVENUE (Tables)

6 Months Ended

Jun. 30, 2018

REVENUE [Abstract]

Disaggregation of Revenue

The following table provides information about disaggregated revenue by product group and sales channel, and includes a reconciliation of the disaggregated revenue to our reportable segments:

	Three Months Ended June 30, 2018
	North
	America		Asia		Europe		Consolidated
By Product Group:
Connectivity solutions	$	34,834	$	4,820	$	9,274	$	48,928
Magnetic solutions		10,158		32,844		2,546		45,548
Power solutions and protection		26,248		8,250		11,736		46,234
	$	71,240	$	45,914	$	23,556	$	140,710
By Sales Channel:
Direct to customer	$	44,055	$	39,402	$	15,990	$	99,447
Through distribution		27,185		6,512		7,566		41,263
	$	71,240	$	45,914	$	23,556	$	140,710

	Six Months Ended June 30, 2018
	North
	America		Asia		Europe		Consolidated
By Product Group:
Connectivity solutions	$	65,878	$	8,241	$	17,727	$	91,846
Magnetic solutions		18,209		60,669		4,898		83,776
Power solutions and protection		46,609		15,625		21,105		83,339
	$	130,696	$	84,535	$	43,730	$	258,961
By Sales Channel:
Direct to customer	$	81,951	$	72,330	$	30,183	$	184,464
Through distribution		48,745		12,205		13,547		74,497
	$	130,696	$	84,535	$	43,730	$	258,961

Cumulative Effect of Changes Made to Consolidated Balance Sheet

The cumulative effect of the changes made to our consolidated January 1, 2018 balance sheet for the adoption of ASC 606 were as follows:

	Balance at		Adjustments			Balance at
	December 31,		Due to			January 1,
	2017		ASC 606			2018
Balance Sheet
Unbilled receivables	$	-	$	14,536		$	14,536
Inventory		107,719		(11,044	)		96,675
Other current liabilities		6,204		43			6,247
Retained earnings		147,807		3,449			151,256

Impact of Adoption of Balance Sheet and Consolidated Statement of Operations

In accordance with the new revenue standard requirements, the disclosure of the impact of adoption on our balance sheet as of June 30, 2018 and consolidated statement of operations for the three and six months ended June 30, 2018 was as follows:

	As of June 30, 2018
			Balances		Effect of
	As		Without Adoption		Change
	Reported		of ASC 606		Higher/(Lower)
Balance Sheet
Assets
Unbilled receivables	$	15,587	$	-	$	15,587
Inventories		106,448		117,780		(11,332	)
Liabilities
Other current liabilities		5,077		4,918		159
Equity
Retained earnings		154,985		150,889		4,096

	Three Months Ended June 30, 2018						Six Months Ended June 30, 2018
			Balances		Effect of				Balances		Effect of
	As		Without Adoption		Change		As		Without Adoption		Change
	Reported		of ASC 606		Higher/(Lower)		Reported		of ASC 606		Higher/(Lower)
Statement of Operations
Net sales	$	140,710	$	138,777	$	1,933	$	258,961	$	257,911	$	1,050
Cost of sales		111,696		110,321		1,375		208,814		208,526		288
Operating income		10,667		10,109		558		11,104		10,342		762
Provision for income taxes		2,399		2,343		56		2,724		2,608		116
Net earnings	$	6,634	$	6,132	$	502	$	5,332	$	4,686	$	646

Contract Assets and Contract Liabilities

The balances of the Company's contract assets and contract liabilities at June 30, 2018 are as follows:

	June 30,		January 1,
	2018		2018
Contract assets - current (unbilled receivable)	$	15,587	$	14,536
Contract liabilities - current (deferred revenue)	$	1,609	$	855

Deferred Revenue

A tabular presentation of the activity within the deferred revenue account for the six months ended June 30, 2018 is presented below:

	Six Months Ended
	June 30, 2018
Balance, January 1	$	855
New advance payments received		3,928
Recognized as revenue during period		(3,174	)
Balance, June 30	$	1,609