Quarterly report pursuant to Section 13 or 15(d)

Accounts Payable and Accrued Expenses

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Accounts Payable and Accrued Expenses
3 Months Ended
Mar. 31, 2020
Payables and Accruals [Abstract]  
Accounts Payable and Accrued Expenses

NOTE 13 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES

 

Accounts payable and accrued expenses consist of the following:

 

    December 31, 2019     March 31, 2020  
          (Unaudited)  
Accounts payable   $ 15,400     $ 13,180  
Accrued warranty     632       664  
Accrued compensation     5,517       4,957  
Contract liabilities     849       642  
Government authorities     2,172       3,358  
Other current liabilities     310       327  
                 
    $ 24,880     $ 23,128  

 

The Company’s products are warranted against defects in materials and workmanship for a period of one to three years from the date of acceptance of the product by the customer. The customers may purchase an extended warranty providing coverage up to a maximum of 60 months. A provision for estimated future warranty costs is recorded for expected or historical warranty matters related to equipment shipped and is included in accounts payable and accrued expenses in the Condensed Consolidated Balance Sheets as of December 31, 2019 and March 31, 2020.

 

The following table summarizes warranty activity for the three-month periods ended March 31, 2019 and 2020:

 

    Three Months Ended March 31,  
    2019     2020  
             
Accrued warranty reserve, beginning of period   $ 422     $ 742  
Accrual for product warranties issued     80       141  
Product replacements and other warranty expenditures     (54 )     (62 )
Expiration of warranties     (76 )     (34 )
                 
Accrued warranty reserve, end of period (a)   $ 372     $ 787  

 

(a) Includes accrued warranty and other liabilities at December 31, 2019 and March 31, 2020 of $110 and $123, respectively