|12 Months Ended|
Dec. 31, 2016
|Risks and Uncertainties [Abstract]|
NOTE 12 – SIGNIFICANT CUSTOMERS
Our products are distributed through national chain, regional, specialty and local retail stores throughout the United States. We also provide contract manufacturing services to third parties. Revenues for Fiscal 2016, 2015 and 2014 were $21.0 million, $20.6 million and $22.1 million, respectively. Two retail customers and one third party contract manufacturing customer accounted for 13.6%, 12.1% and 10.5%, respectively, of our Fiscal 2016 revenues. Two retail customers accounted for approximately 15.8% and 11.3%, respectively, of our Fiscal 2015 revenues. Three retail customers accounted for approximately 18.9%, 16.9% and 11.3%, respectively, of our Fiscal 2014 revenues. The loss of sales to any one or more of these large retail or third party contract manufacturing customers could have a material adverse effect on our business operations and financial condition.
We are subject to account receivable credit concentrations from time-to-time as a consequence of the timing, payment pattern and ultimate purchase volumes or shipping schedules with our customers. These concentrations may impact our overall exposure to credit risk, either positively or negatively, in that our customers may be similarly affected by changes in economic, regulatory or other conditions that may impact the timing and collectability of amounts due to us. One customer represented 22% and two customers represented 25% of our total trade receivable balances at December 31, 2016 and 2015, respectively. Management believes that the provision for possible losses on uncollectible accounts receivable is adequate for our credit loss exposure. The allowance for doubtful accounts was zero for both December 31, 2016 and 2015.
The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
Reference 1: http://www.xbrl.org/2003/role/presentationRef