Note 3 - Revenue

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

3. REVENUE

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

	Three Months Ended September 30, 2020								Nine Months Ended September 30, 2020
	Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated
By Product Group:
North America	$	28,933	$	31,770	$	8,111	$	68,814	$	86,244	$	83,522	$	22,315	$	192,081
Europe		7,458		8,714		1,972		18,144		23,576		26,993		4,890		55,459
Asia		2,144		7,309		28,081		37,534		6,723		18,567		76,812		102,102
	$	38,535	$	47,793	$	38,164	$	124,492	$	116,543	$	129,082	$	104,017	$	349,642
By Sales Channel:
Direct to customer	$	24,806	$	29,648	$	29,927	$	84,381	$	73,459	$	78,119	$	85,290	$	236,868
Through distribution		13,729		18,145		8,237		40,111		43,084		50,963		18,727		112,774
	$	38,535	$	47,793	$	38,164	$	124,492	$	116,543	$	129,082	$	104,017	$	349,642

	Three Months Ended September 30, 2019								Nine Months Ended September 30, 2019
	Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated
By Product Group:
North America	$	33,929	$	23,608	$	8,241	$	65,778	$	97,273	$	73,495	$	26,662	$	197,430
Europe		8,092		8,813		1,842		18,747		25,069		32,121		6,109		63,299
Asia		2,510		7,868		29,576		39,954		9,012		21,709		85,834		116,555
	$	44,531	$	40,289	$	39,659	$	124,479	$	131,354	$	127,325	$	118,605	$	377,284
By Sales Channel:
Direct to customer	$	28,661	$	28,025	$	34,658	$	91,344	$	86,398	$	85,954	$	101,655	$	274,007
Through distribution		15,870		12,264		5,001		33,135		44,956		41,371		16,950		103,277
	$	44,531	$	40,289	$	39,659	$	124,479	$	131,354	$	127,325	$	118,605	$	377,284

The balances of the Company’s contract assets and contract liabilities at  September 30, 2020 and December 31, 2019 are as follows:

	September 30,		December 31,
	2020		2019
Contract assets - current (unbilled receivable)	$	19,383	$	16,318
Contract liabilities - current (deferred revenue)	$	2,957	$	653

The change in balance of our unbilled receivables from December 31, 2019 to September 30, 2020 primarily relates to a timing difference between the Company’s performance (i.e. when our product is shipped to a customer-controlled hub) and the point at which the Company can invoice the customer per the terms of the customer contract (i.e. when the customer pulls our product from the customer-controlled hub).

The aggregate amount of transaction price allocated to remaining performance obligations that have not been satisfied as of September 30, 2020 related to contracts that exceed one year in duration amounted to $12.8 million, with expected contract expiration dates that range from 2021 - 2025. It is expected that 16% of this aggregate amount will be recognized in 2021, 80% will be recognized in 2022 and the remainder will be recognized in years beyond 2022.