GROSS REVENUES: Total revenues for the fiscal year 2019 were $1,408,548 reflecting an increase of 1.0% from $1,395,030 in gross revenues for fiscal year 2018. During the year ended December 31, 2019, one customer’s sales accounted for more than 10% of the total sales revenues. The increase in total revenues is the result of increased Engineering Services during 2019. Domestic Sales for the fiscal year were $1,179,146 compared to $1,298,447 in 2018. Sales to Foreign Customers for the fiscal year were $229,402 compared to $96,583 in 2018. Product sales decreased to $1,367,171 in 2019, as compared to 2018 sales of $1,374,810, reflecting a decrease of 0.6%.
Interest revenues during 2019 increased to $22,198 from 2018 level of $18,097 due to the increased interest rates for the certificates of deposit held by the Company.
As of December 31, 2019, the Company had sales backlog of $34,801. The Company’s customers generally place orders on an "as needed basis". Shipment of the Company’s products is generally completed within 1 to 15 working days after receipt of customer orders, with the exception of ongoing, scheduled projects, and custom designed equipment for specific customer applications.