| Revenue Disaggregated by Product Line and Geographic Area |
The following tables present the Company's net sales disaggregated by market and geographic area:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31, |
|
Market |
|
2026 |
|
|
2025 |
|
|
2024 |
|
Defense |
|
$ |
147,445 |
|
|
$ |
121,925 |
|
|
$ |
99,493 |
|
Energy & Process |
|
|
83,343 |
|
|
|
73,287 |
|
|
|
72,758 |
|
Space |
|
|
14,505 |
|
|
|
14,684 |
|
|
|
13,282 |
|
Net sales |
|
$ |
245,293 |
|
|
$ |
209,896 |
|
|
$ |
185,533 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31, |
|
Geographic Area |
|
2026 |
|
|
2025 |
|
|
2024 |
|
Asia |
|
$ |
12,630 |
|
|
$ |
16,884 |
|
|
$ |
15,144 |
|
Canada |
|
|
11,217 |
|
|
|
7,586 |
|
|
|
4,229 |
|
Middle East |
|
|
7,003 |
|
|
|
7,088 |
|
|
|
2,568 |
|
South America |
|
|
1,251 |
|
|
|
1,165 |
|
|
|
733 |
|
U.S. |
|
|
209,628 |
|
|
|
169,943 |
|
|
|
155,908 |
|
All other |
|
|
3,564 |
|
|
|
7,230 |
|
|
|
6,951 |
|
Net sales |
|
$ |
245,293 |
|
|
$ |
209,896 |
|
|
$ |
185,533 |
|
The following table presents the Company's revenue percentages disaggregated by revenue recognized over time or upon shipment:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
|
|
|
|
|
|
|
|
|
|
Revenue recognized over time |
|
|
82 |
% |
|
|
80 |
% |
|
|
77 |
% |
Revenue recognized at shipment |
|
|
18 |
% |
|
|
20 |
% |
|
|
23 |
% |
|
| Schedule of Net Contract Assets (Liabilities) |
Net contract assets (liabilities) consisted of the following:
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|
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
March 31, 2025 |
|
|
Change |
|
|
Change due to amounts acquired |
|
|
Change due to revenue recognized |
|
|
Change due to invoicing customers/
additional deposits |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Unbilled revenue (contract assets) |
|
$ |
59,868 |
|
|
$ |
38,494 |
|
|
$ |
21,374 |
|
|
$ |
29 |
|
|
$ |
120,829 |
|
|
$ |
(99,484 |
) |
Customer deposits (contract liabilities) |
|
|
(102,421 |
) |
|
|
(84,062 |
) |
|
|
(18,359 |
) |
|
|
(1,840 |
) |
|
|
68,923 |
|
|
|
(85,442 |
) |
Net contract (liabilities) assets |
|
$ |
(42,553 |
) |
|
$ |
(45,568 |
) |
|
$ |
3,015 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
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|