Geographic and Product Data

3 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 9 - Geographic and Product Data

The Company markets and sells its products in over 60 countries and conducts its manufacturing in the United States. Other than Japan, China, the United States, and Korea, the Company does not conduct business in any country in which its sales exceed 10% of consolidated net sales. Sales are generally attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers is set forth below (in thousands):

 

	Three Months Ended
	March 31, 2017		April 1, 2016
Japan	$	3,799	$	4,240
China		4,463		3,078
United States		1,958		2,516
Korea		1,426		2,023
Other		8,704		7,412
Total	$	20,350	$	19,269

100% of the Company’s net sales are generated from the ophthalmic surgical product segment and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery and intraocular lenses (“IOLs”) used in cataract surgery. The composition of the Company’s net sales by product line is as follows (in thousands):

 

	Three Months Ended
	March 31, 2017		April 1, 2016
ICLs	$	15,271	$	13,180
IOLs		4,606		5,067
Other Surgical Products		473		1,022
Total	$	20,350	$	19,269

The Company sells its products internationally, which subjects the Company to several financial risks, including fluctuating foreign currency exchange rates (to the extent the Company’s transactions are not in U.S. dollars), regulation of fund transfers by foreign governments, United States and foreign export and import duties and tariffs, and political instability.

Two customers, our distributors in Korea and China, accounted for 7% and 22% of net sales for the three months ended March 31, 2017 and 11% and 16% of net sales for the three months ended April 1, 2016, respectively. One customer, our distributor in China, accounted for more than 24% and 21% of consolidated trade receivables as of March 31, 2017 and April 1, 2016, respectively.