Note 3 - Revenue

9 Months Ended

Sep. 30, 2021

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, 2021								Nine Months Ended September 30, 2021
	Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated		Cinch Connectivity Solutions		Power Solutions and Protection		Magnetic Solutions		Consolidated
By Geographic Region:
North America	$	30,144	$	42,064	$	11,338	$	83,546	$	92,868	$	109,708	$	28,009	$	230,585
Europe		7,916		9,679		2,635		20,230		22,220		29,306		6,126		57,652
Asia		2,284		8,538		32,368		43,190		6,358		20,298		81,458		108,114
	$	40,344	$	60,281	$	46,341	$	146,966	$	121,446	$	159,312	$	115,593	$	396,351
By Sales Channel:
Direct to customer	$	23,476	$	36,154	$	38,022	$	97,652	$	72,898	$	96,759	$	95,104	$	264,761
Through distribution		16,868		24,127		8,319		49,314		48,548		62,553		20,489		131,590
	$	40,344	$	60,281	$	46,341	$	146,966	$	121,446	$	159,312	$	115,593	$	396,351

	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 Geographic Region:
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

The balances of the Company’s contract assets and contract liabilities at  September 30, 2021 and December 31, 2020 are as follows:

	September 30,		December 31,
	2021		2020
Contract assets - current (unbilled receivables)	$	28,093	$	14,135
Contract liabilities - current (deferred revenue)	$	1,131	$	2,077

The change in balance of our unbilled receivables from December 31, 2020 to September 30, 2021 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, 2021 related to contracts that exceed one year in duration amounted to $28.5 million, with expected contract expiration dates that range from 2022 - 2025. It is expected that 59% of this aggregate amount will be recognized in 2022, 32% will be recognized in 2023 and the remainder will be recognized in years beyond 2023.