Geographical, Customer Concentration and Products Data

12 Months Ended

Dec. 31, 2011

Geographical, Customer Concentration and Products Data [Abstract]

Geographical, Customer Concentration and Products Data

15. Geographical, Customer Concentration and Products Data

The Company is primarily engaged in one business, the sale and rental of lockers. This includes coin, key-only and electronically controlled checking lockers and related locks and sale of plastic centralized mail and parcel distribution lockers. Net sales by product group for the years ended December 31 are as follows:

	2011		2010		2009
Lockers	$	9,522,020	$	8,961,181	$	6,882,317
Mailboxes		2,284,582		2,374,682		3,923,610
Contract manufacturing		430,586		451,898		1,547,063
Concession revenues		1,149,149		311,251		162,443
	$	13,386,336	$	12,099,012	$	12,515,433

The Company sells to customers in the United States, Canada and other foreign locations. Sales are attributed based on the country they are shipped to. Net sales to external customers for the years ended December 31 are as follows:

	2011		2010		2009
United States customers	$	10,646,590	$	9,266,197	$	10,318,478
Canadian and other foreign customers		2,739,746		2,832,815		2,196,955
	$	13,386,336	$	12,099,012	$	12,515,433

The Company did not have any customers that accounted for more than 10% of consolidated sales in 2011 or 2010. The Company had one customer that accounted for 12.5% of consolidated sales in 2009.

At December 31, 2011 and 2010, the Company had unsecured trade receivables from governmental agencies of approximately $26,000 and $46,000, respectively. At December 31, 2011 and 2010, the Company had trade receivables from customers considered to be distributors of approximately $334,000 and $273,000, respectively.

At December 31, 2011, the Company had four customers that accounted for 43.2% of accounts receivable. At December 31, 2010, the Company had two customers that accounted for 43.7% of accounts receivable. Other concentrations of credit risk with respect to trade accounts receivable are limited due to the large number of entities comprising the Company’s customer base and their dispersion across many industries.