Receivables and Net Sales

12 Months Ended

Dec. 31, 2012

Receivables and Net Sales

Receivables and Net Sales

(3) Receivables and Net Sales

Receivables consist of the following:

	December 31
	2012			2011
Accounts receivable—trade	$	18,330,793		$	15,997,576
Less allowance for doubtful receivables	(494,891		)	(378,859		)
	$	17,835,902		$	15,618,717

Receivables are written off against these reserves in the period they are determined to be uncollectible, and payments subsequently received on previously written-off receivables are recorded as a reversal of the bad debt provision.  The Company performs credit evaluations on its customers and obtains credit insurance on a large percentage of its accounts, but does not generally require collateral.  The Company recorded a provision for doubtful accounts of $112,917 and $55,209 for the years ended December 31, 2012, and 2011, respectively.

Sales to the top customer in the Company’s Component Products segment comprised 5.7% of that segment’s total sales and 3.8% of the Company’s total sales for the year ended December 31, 2012. Sales to the top customer in the Company’s Packaging segment comprised 8.8% of that segment’s total sales and 2.9% of the Company’s total sales for the year ended December 31, 2012.