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REVENUE (Tables)
 9 Months Ended
Sep. 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 September 30, 2018
 
  
North
          
  
America
  
Asia
  
Europe
  
Consolidated
 
             
By Product Group:
            
Connectivity solutions
 
$
34,919
  
$
5,293
  
$
8,314
  
$
48,526
 
Magnetic solutions
  
10,586
   
40,100
   
2,286
   
52,972
 
Power solutions and protection
  
25,149
   
8,135
   
11,707
   
44,991
 
  
$
70,654
  
$
53,528
  
$
22,307
  
$
146,489
 
                 
By Sales Channel:
                
Direct to customer
 
$
46,802
  
$
46,965
  
$
15,184
  
$
108,951
 
Through distribution
  
23,852
   
6,563
   
7,123
   
37,538
 
  
$
70,654
  
$
53,528
  
$
22,307
  
$
146,489
 

  
Nine Months Ended September 30, 2018
 
  
North
          
  
America
  
Asia
  
Europe
  
Consolidated
 
             
By Product Group:
            
Connectivity solutions
 
$
100,797
  
$
13,533
  
$
26,043
  
$
140,373
 
Magnetic solutions
  
28,795
   
100,769
   
7,184
   
136,748
 
Power solutions and protection
  
71,759
   
23,760
   
32,811
   
128,330
 
  
$
201,351
  
$
138,062
  
$
66,038
  
$
405,451
 
                 
By Sales Channel:
                
Direct to customer
 
$
128,754
  
$
119,294
  
$
45,368
  
$
293,416
 
Through distribution
  
72,597
   
18,768
   
20,670
   
112,035
 
  
$
201,351
  
$
138,062
  
$
66,038
  
$
405,451
 
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 September 30, 2018 and consolidated statement of operations for the three and nine months ended September 30, 2018 was as follows:

  
As of September 30, 2018
 
     
Balances
  
Effect of
 
  
As
  
Without Adoption
  
Change
 
  
Reported
  
of ASC 606
  
Higher/(Lower)
 
          
Balance Sheet
         
Assets
         
Unbilled receivables
 
$
16,553
  
$
-
  
$
16,553
 
Inventories
  
114,434
   
126,737
   
(12,303
)
             
Liabilities
            
Other current liabilities
  
3,836
   
3,715
   
121
 
             
Equity
            
Retained earnings
  
165,518
   
161,389
   
4,129
 
             



  
Three Months Ended September 30, 2018
  
Nine Months Ended September 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
 
$
146,489
  
$
145,523
  
$
966
  
$
405,451
  
$
403,434
  
$
2,017
 
Cost of sales
  
117,282
   
116,312
   
970
   
326,096
   
324,837
   
1,259
 
Operating income
  
10,499
   
10,503
   
(4
)
  
21,603
   
20,845
   
758
 
(Benefit from) provision for income taxes
  
(2,201
)
  
(2,163
)
  
(38
)
  
523
   
445
   
78
 
Net earnings
  
11,352
   
11,318
   
34
   
16,684
   
16,004
   
680
 
Contract Assets and Contract Liabilities
The balances of the Company's contract assets and contract liabilities at September 30, 2018 are as follows:

 
 
September 30,
  
January 1,
 
 
 
2018
  
2018
 
 
      
Contract assets - current (unbilled receivable)
 
$
16,553
  
$
14,536
 
Contract liabilities - current (deferred revenue)
 
$
776
  
$
855
 
Deferred Revenue
A tabular presentation of the activity within the deferred revenue account for the nine months ended September 30, 2018 is presented below:

 
 
Nine Months Ended
 
 
 
September 30, 2018
 
Balance, January 1
 
$
855
 
New advance payments received
  
6,180
 
Recognized as revenue during period
  
(6,251
)
Currency translation
  
(8
)
Balance, September 30
 
$
776