Revenue

6 Months Ended

Mar. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The Company produces forged components for (i) turbine engines that power commercial, business and regional aircraft as well as military aircraft and other military applications; (ii) airframe applications for a variety of aircraft; (iii) industrial gas and steam turbine engines for power generation units; and (iv) other commercial applications.

The following table represents a breakout of total revenue by customer type:

	Three Months Ended March 31,				Six Months Ended March 31,
	2021		2020		2021		2020
Commercial revenue	$	9,247	$	12,497	$	20,000	$	22,688
Military revenue	15,619		18,040		29,944		34,056
Total	$	24,866	$	30,537	$	49,944	$	56,744

The following table represents revenue by the various components:

	Three Months Ended March 31,				Six Months Ended March 31,
Net Sales	2021		2020		2021		2020
Aerospace components for:
Fixed wing aircraft	$	10,176	$	14,065	$	19,966	$	25,400
Rotorcraft	7,872		6,813		15,603		13,661
Energy components for power generation units	5,102		3,417		11,565		6,074
Commercial product and other revenue	1,716		6,242		2,810		11,609
Total	$	24,866	$	30,537	$	49,944	$	56,744

The following table represents revenue by geographic region based on the Company's selling operation locations:

	Three Months Ended March 31,				Six Months Ended March 31,
Net Sales	2021		2020		2021		2020
North America	$	20,019	$	27,495	$	39,784	$	51,271
Europe	4,847		3,042		10,160		5,473
Total	$	24,866	$	30,537	$	49,944	$	56,744

In addition to the disaggregated revenue information provided above, approximately 61% and 63% of total net sales as of March 31, 2021 and 2020, respectively, was recognized on an over-time basis because of the continuous transfer of control to the customer, with the remainder recognized at a point in time. 

Contract Balances

The following table contains a roll forward of contract assets and contract liabilities for the period ended March 31, 2021:

Contract assets - Beginning balance, October 1, 2020	$	11,997
Additional revenue recognized over-time	30,428
Less amounts billed to the customers	(28,860)
Contract assets - Ending balance, March 31, 2021	$	13,565

Contract liabilities (included within Accrued liabilities) - Beginning balance, October 1, 2020	$	(636)
Payments received in advance of performance obligations	(186)
Performance obligations satisfied	754
Contract liabilities (included within Accrued liabilities) - Ending balance, March 31, 2021	$	(68)

There were no impairment losses recorded on contract assets as of March 31, 2021 and September 30, 2020.

Remaining performance obligations

As of March 31, 2021, the Company has $82,305 of remaining performance obligations, the majority of which are anticipated to be completed within the next twelve months.