Note 2 - Impact of Recently Issued Accounting Pronouncements (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Standards Updated 2014-09 [Member]

Schedule of Adoption of New Revenue Standard Impacted the Consolidated Financial Statements

The adoption of the new revenue standard impacted the consolidated financial statements as follows:

Income Statement

	For the Three Months Ended March 31, 2018
	As Reported		Effect of Change Higher/(Lower)		Amount Without Adoption of ASC 606
Gross sales	$	139,130	$	37,280	$	101,850
Net revenue		141,097		37,280		103,817
Cost of goods sold		90,242		20,699		69,543
Gross profit		50,855		16,581		34,274
Operating profit		30,381		16,581		13,800
Provision for income taxes		5,786		3,171		2,615
Income from continuing operations		24,249		13,410		10,839
Net income		24,058		13,410		10,648
Diluted earnings per share from continuing operations		0.72		0.40		0.32

Balance Sheet

	March 31, 2018
	As Reported		Effect of Change Higher/(Lower)			Balances Without Adoption of ASC 606
Current Assets
Trade receivables	$	55,166	$	-		$	55,166
Contract assets		88,990		88,990			-
Inventory		104,544		(51,886	)		156,430
Current Liabilities
Contract liabilities, current		6,721		-			6,721
Taxes payable		8,162		7,819			343
Stockholders' Equity
Retained earnings		470,103		29,629			440,474