Revenue and Accounts Receivable, Net (Tables)
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9 Months Ended |
Sep. 30, 2024 |
| Receivables [Abstract] |
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| Pattern of Revenue Recognition |
The pattern of revenue recognition was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (In thousands) | 2024 | | 2023 | | 2024 | | 2023 | | Goods and services transferred at a point in time | $ | 85,186 | | | $ | 83,855 | | | $ | 235,572 | | | $ | 249,908 | | | Goods and services transferred over time | 16,887 | | 23,240 | | 48,853 | | 72,955 | | | Net sales | $ | 102,073 | | | $ | 107,095 | | | $ | 284,425 | | | $ | 322,863 | |
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| Revenue from External Customers by Geographic Areas |
Our net sales to external customers by geographic area were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | (In thousands) | 2024 | | 2023 | | 2024 | | 2023 | | United States | $ | 25,833 | | | $ | 31,737 | | | $ | 71,455 | | | $ | 97,892 | | | Asia (excluding PRC) | 20,785 | | 20,107 | | | 57,893 | | 66,508 | | | Europe | 22,583 | | 22,529 | | 60,837 | | 68,598 | | PRC | 17,747 | | 19,049 | | 49,560 | | 49,082 | | Latin America | 9,164 | | 8,227 | | 26,888 | | 24,408 | | Other | 5,961 | | 5,446 | | 17,792 | | 16,375 | | Total net sales | $ | 102,073 | | | $ | 107,095 | | | $ | 284,425 | | | $ | 322,863 | |
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| Net Sales to Significant Customers |
Net sales to the following customers totaled more than 10% of our net sales: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | 2024 | | 2023 | | | $ (thousands) | | % of Net Sales | | $ (thousands) | | % of Net Sales | | | Daikin Industries Ltd. | $ | 12,620 | | | 12.4 | % | | $ | 15,194 | | | 14.2 | % | | | Sony Corporation | $ | 10,841 | | | 10.6 | % | | $ | 11,825 | | | 11.0 | % | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, | | 2024 | | 2023 | | | $ (thousands) | | % of Net Sales | | $ (thousands) | | % of Net Sales | | | Daikin Industries Ltd. | $ | 37,658 | | | 13.2 | % | | $ | 48,401 | | | 15.0 | % | | | Comcast Corporation | (1) | | (1) | | $ | 34,436 | | | 10.7 | % | | | | | | | | | | |
(1) Sales associated with this customer did not total more than 10% of our net sales for the indicated period.
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| Accounts Receivable, Net and Changes in the Allowance for Doubtful Accounts |
Accounts receivable, net were as follows: | | | | | | | | | | | | | (In thousands) | September 30, 2024 | | December 31, 2023 | | Trade receivables, gross | $ | 102,127 | | | $ | 106,182 | | | Allowance for credit losses | (841) | | | (815) | | | Allowance for sales returns | (343) | | | (532) | | | Trade receivables, net | 100,943 | | | 104,835 | | Other (1) | 5,686 | | | 7,761 | | | Accounts receivable, net | $ | 106,629 | | | $ | 112,596 | |
(1)Other accounts receivable is primarily comprised of value added tax receivables, interest receivable and supplier rebate receivables. Changes in the allowance for credit losses were as follows: | | | | | | | | | | | | | (In thousands) | Nine Months Ended September 30, | | 2024 | | 2023 | | Balance at beginning of period | $ | 815 | | | $ | 957 | | | Additions (reductions) to costs and expenses | 17 | | | 69 | | | | | | | Write-offs/Foreign exchange effects | 9 | | | (207) | | | Balance at end of period | $ | 841 | | | $ | 819 | |
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| Contract with Customer, Contract Asset, Contract Liability, and Receivable |
Changes in the carrying amount of contract liabilities were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2024 | | 2023 | | 2024 | | 2023 | | Balance at beginning of period | $ | 4,717 | | | $ | 2,931 | | | $ | 3,501 | | | $ | 1,931 | | | | | | | | | | | Payments received | 981 | | | 862 | | | 4,444 | | | 4,314 | | | Revenue recognized | (1,697) | | | (1,001) | | | (3,922) | | | (3,453) | | | Foreign exchange effects | 31 | | | — | | | 9 | | | — | | | Balance at end of period | $ | 4,032 | | | $ | 2,792 | | | $ | 4,032 | | | $ | 2,792 | |
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