Revenue Recognition (Tables)
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12 Months Ended |
Dec. 31, 2018 |
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| Revenue Recognition |
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| Schedule of adoption of ASC 606 impacted the Company’s previously reported results |
The adoption of ASC 606 impacted the Company’s previously reported results as follows (in thousands, except per share data):
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Year Ended
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Year Ended
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December 31,
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December 31,
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2017
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2016
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As previously reported
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ASC 606 adjustment
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As
adjusted
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As previously reported
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ASC 606 adjustment
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As
adjusted
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Revenue
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$
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244,725
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$
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(550)
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$
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244,175
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$
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208,802
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$
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(672)
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$
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208,130
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Income tax benefit
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(1,542)
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(26)
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(1,568)
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(8,784)
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(16)
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(8,800)
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Net income
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15,979
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(524)
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15,455
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12,954
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(656)
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12,298
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Basic earnings per share
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$
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0.64
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$
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(0.02)
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$
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0.62
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$
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0.55
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$
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(0.02)
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$
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0.53
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Diluted earnings per share
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$
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0.60
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$
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(0.02)
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$
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0.58
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$
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0.53
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$
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(0.03)
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$
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0.50
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December 31, 2017
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As previously reported
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ASC 606 adjustment
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As
adjusted
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Other assets
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$
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1,576
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$
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42
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$
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1,618
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Current portion of deferred revenue
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2,311
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2,227
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4,538
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Other long-term liabilities
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882
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3,060
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3,942
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Stockholders’ equity
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174,773
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(5,245)
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169,528
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| Schedule of revenue from United States, Canada and all other international dealers and distributors combined |
The following table sets forth revenue from the United States, Canada and all other international dealers and distributors combined (in thousands, except percentages):
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Years Ended
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December 31,
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2018
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2017
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2016
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Revenue-United States
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$
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187,852
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$
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169,547
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$
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147,713
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Revenue-Canada
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22,700
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20,765
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16,694
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Revenue-all other international sources
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61,906
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53,863
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43,723
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Total revenue
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$
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272,458
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$
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244,175
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$
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208,130
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International revenue (excluding Canada) as a percent of total revenue
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23
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%
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22
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%
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21
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%
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| Summary of changes in the allowance for doubtful accounts |
The following table presents the changes in the allowance for doubtful accounts (in thousands):
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Years Ended
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December 31,
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2018
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2017
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2016
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Balance at beginning of period
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$
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1,147
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$
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981
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$
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824
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Provision
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839
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815
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345
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Write-offs
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(457)
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(649)
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(188)
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Balance at end of period
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$
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1,529
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$
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1,147
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$
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981
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| Schedule of changes in deferred revenue |
The following table presents the changes in deferred revenue (in thousands):
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Years Ended
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December 31,
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2018
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2017
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2016
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Balance at the beginning of the period
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$
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7,681
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$
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6,390
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$
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5,164
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Deferred revenue
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8,640
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6,320
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4,979
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Recognition of deferred revenue
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(7,622)
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(5,029)
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(3,753)
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Balance at the end of the period
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$
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8,699
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$
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7,681
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$
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6,390
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