Subsequent Events

12 Months Ended

Dec. 31, 2019

Subsequent Events [Abstract]

Subsequent Events

NOTE 12. SUBSEQUENT EVENTS

The Company expects China trade, and hence its operations, to be affected by the recent outbreak of Novel Coronavirus (COVID-19) that began in China and was declared by the World Health Organization as a global health emergency. As precautionary measures, the government in China extended the Lunar New Year Holiday into February 2020 and has implemented travel restrictions and closures of certain central China ports and government offices. Additionally, factories have experienced extended closures and certain airlines are cancelling flights to and from China. As a result, certain of the Company’s central China offices have experienced closures and limited operations and shipments are being rerouted or delayed by customers and service providers, who are taking their own precautionary measures. Also, available airfreight capacity could be reduced affecting the ability to efficiently route customers’ freight. Any such conditions of operations, for an extended period of time would result in a reduction in shipments that could negatively affect the Company’s results of operations in 2020. In addition to traditional supply chain movements, the Company also believes this may have a further impact to global supply chains through potential shortages of raw materials, parts and supplies. For the years ended December 31, 2019, 2018 and 2017, the People’s Republic of China, including Hong Kong, represented 26%, 29% and 31%, respectively, of the Company’s total revenues and 27%, 30% and 30%, respectively, of the Company’s total operating income.