Quarterly report pursuant to Section 13 or 15(d)

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

v3.21.2
ACCOUNTS PAYABLE AND ACCRUED EXPENSES
 6 Months Ended
Jun. 30, 2021
Payables and Accruals [Abstract]  
ACCOUNTS PAYABLE AND ACCRUED EXPENSES

NOTE 12 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES

 

Accounts payable and accrued expenses consist of the following:

 

    1     2  
    December 31, 2020     June 30, 2021  
          (Unaudited)  
Accounts payable   $ 9,877     $ 13,331  
Accrued warranty     705       880  
Accrued compensation     5,581       5,492  
Government authorities     3,047       3,035  
Other current liabilities     1,015       825  
                 
 Accounts payable and accrued expenses   $ 20,225     $ 23,563  

 

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, 2020 and June 30, 2021.

 

The following table summarizes warranty activity for the six-month periods ended June 30, 2020 and 2021:

 

    Six Months Ended June 30,  
    2020     2021  
             
Accrued warranty reserve, beginning of year   $ 775     $ 807  
Accrual for product warranties issued     368       680  
Product replacements and other warranty expenditures     (355 )     (220 )
Expiration of warranties     (18 )     (216 )
                 
Accrued warranty reserve, end of period (a)   $ 770     $ 1,051  

 

(a) Includes non-current accrued warranty included in other long-term liabilities at December 31, 2020 and June 30, 2021 of $102 and $171, respectively.