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Significant Customers and Concentration of Credit Risk
3 Months Ended
Apr. 03, 2023
Risks And Uncertainties [Abstract]  
Significant Customers and Concentration of Credit Risk

(12) Significant Customers and Concentration of Credit Risk

In the normal course of business, the Company extends credit to its customers. Some customers to whom the Company extends credit are located outside the United States. The Company performs on-going credit evaluations of customers, does not require collateral, and considers the credit risk profile of the entity from which the receivable is due in further evaluating collection risk. There were no customers that accounted for 10% or more of accounts receivable as of April 3, 2023. As of January 2, 2023, there was one customer that accounted for 11% of the Company’s accounts receivable.

The Company’s customers include both OEMs and EMS companies. The Company’s OEM customers often direct a significant portion of their purchases through EMS companies. While the Company’s customers include both OEM and EMS providers, the Company measures customer concentration based on OEM companies, as they are the ultimate end customers.

For the quarters ended April 3, 2023 and April 4, 2022, one customer accounted for approximately 12% and 10% of the Company’s net sales, respectively.