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, 2022
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:

 

    December 31, 2021    

March 31, 2022

 
              (Unaudited)  
Accounts payable   $ 17,748     $ 17,852  
Accrued warranty     1,146       1,317  
Accrued compensation     6,644       6,293  
Government authorities     2,080       2,511  
Other current liabilities     1,397       804  
                 
Accounts payable and accrued expenses   $ 29,015     $ 28,777  

 

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, 2021 and March 31, 2022.

 

The following table summarizes warranty activity for the three-month periods ended March 31, 2021 and 2022:

 

    2021     2022  
    Three Months Ended March 31,  
    2021     2022  
             
Accrued warranty reserve, beginning of year   $ 807     $ 1,333  
Accrual for product warranties issued     396       342  
Product replacements and other warranty expenditures     (127 )     (167 )
Expiration of warranties     (75 )     (5 )
                 
Accrued warranty reserve, end of period (a)   $ 1,001     $ 1,503  

 

(a) Includes non-current accrued warranty included in other long-term liabilities at December 31, 2021 and March 31, 2022 of $187 and $186, respectively.