Revenue Disaggregated by Product Line and Geographic Area |
The following table presents the Company’s revenue disaggregated by product line and geographic area:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
Market |
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
Refining |
|
$ |
8,416 |
|
|
$ |
7,289 |
|
|
$ |
16,658 |
|
|
$ |
14,156 |
|
Chemical/Petrochemical |
|
|
5,422 |
|
|
|
4,365 |
|
|
|
10,205 |
|
|
|
10,406 |
|
Defense |
|
|
30,897 |
|
|
|
25,118 |
|
|
|
59,991 |
|
|
|
47,935 |
|
Space |
|
|
3,416 |
|
|
|
2,775 |
|
|
|
7,363 |
|
|
|
7,597 |
|
Other |
|
|
5,412 |
|
|
|
5,529 |
|
|
|
9,297 |
|
|
|
12,551 |
|
Net sales |
|
$ |
53,563 |
|
|
$ |
45,076 |
|
|
$ |
103,514 |
|
|
$ |
92,645 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Geographic Region |
|
|
|
|
|
|
|
|
|
|
|
|
Asia |
|
$ |
4,274 |
|
|
$ |
2,980 |
|
|
$ |
9,576 |
|
|
$ |
8,882 |
|
Canada |
|
|
1,665 |
|
|
|
1,092 |
|
|
|
2,661 |
|
|
|
1,991 |
|
Middle East |
|
|
794 |
|
|
|
669 |
|
|
|
1,777 |
|
|
|
1,718 |
|
South America |
|
|
314 |
|
|
|
172 |
|
|
|
369 |
|
|
|
199 |
|
U.S. |
|
|
45,460 |
|
|
|
38,604 |
|
|
|
86,390 |
|
|
|
76,745 |
|
All other |
|
|
1,056 |
|
|
|
1,559 |
|
|
|
2,741 |
|
|
|
3,110 |
|
Net sales |
|
$ |
53,563 |
|
|
$ |
45,076 |
|
|
$ |
103,514 |
|
|
$ |
92,645 |
|
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
September 30, |
|
|
September 30, |
|
|
|
2024 |
|
|
2023 |
|
|
2024 |
|
|
2023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue recognized over time |
|
|
79 |
% |
|
|
75 |
% |
|
|
80 |
% |
|
|
78 |
% |
Revenue recognized at shipment |
|
|
21 |
% |
|
|
25 |
% |
|
|
20 |
% |
|
|
22 |
% |
|
Schedule of Net Contract Assets (Liabilities) |
Net contract assets (liabilities) consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2024 |
|
|
March 31, 2024 |
|
|
Change |
|
|
|
Change due to revenue recognized |
|
|
Change due to invoicing customers/ additional deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unbilled revenue - contract assets |
|
$ |
40,730 |
|
|
$ |
28,015 |
|
|
$ |
12,715 |
|
|
|
$ |
52,216 |
|
|
$ |
(39,501 |
) |
Customer deposits - contract liabilities |
|
|
(86,483 |
) |
|
|
(71,987 |
) |
|
|
(14,496 |
) |
|
|
|
34,439 |
|
|
|
(48,935 |
) |
Net contract (liabilities) assets |
|
$ |
(45,753 |
) |
|
$ |
(43,972 |
) |
|
$ |
(1,781 |
) |
|
|
|
|
|
|
|
|