CUSTOMER CONCENTRATIONS AND FOREIGN SALES

9 Months Ended

Nov. 30, 2023

Risks and Uncertainties [Abstract]

CUSTOMER CONCENTRATIONS AND FOREIGN SALES

NOTE 8: CUSTOMER CONCENTRATIONS AND FOREIGN SALES

Export sales to customers located outside the United States and Canada were approximately as follows:

	Nine Months Ended November 30,				Three Months Ended November 30,
	2023		2022		2023		2022
Asia Pacific (APAC)	$	1,790,000	$	2,367,000	$	681,000	$	834,000
Europe, Middle East, Asia (EMEA)		3,057,000		2,557,000		1,476,000		731,000
Latin America		1,097,000		1,301,000		112,000		436,000
	$	5,944,000	$	6,225,000	$	2,269,000	$	2,001,000

In the first nine months of fiscal 2024 and fiscal 2023, sales to foreign customers accounted for approximately $5,944,000 and $6,225,000, or 40% and 55%, respectively, of total revenues.

During the third quarter of fiscal 2024 and fiscal 2023, sales to foreign customers accounted for approximately $2,269,000 and $2,001,000, or 40% and 56%, respectively, of total revenues.

The Company had no customers that accounted for more than 10% of sales during the first nine months of fiscal 2024. The Company had one customer which accounted for 13% of sales during the third quarter of fiscal 2024. One customer accounted for 25% of the outstanding accounts receivables at November 30, 2023.

The Company had two customers which accounted for 14% of sales during the first nine months of fiscal 2023. The Company had two customers which accounted for 21% of sales during the third quarter of fiscal 2023. Four customers accounted for 44% of the outstanding accounts receivable at February 28, 2023.