Quarterly report pursuant to Section 13 or 15(d)

Foreign Currency Translation

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Foreign Currency Translation
6 Months Ended
Jun. 30, 2018
Foreign Currency Translation  
Foreign Currency Translation

3.            Foreign Currency Translation:

 

Assets and liabilities of the Company’s foreign subsidiaries have been translated using the end of the reporting period exchange rates, and related revenues and expenses have been translated at average rates of exchange in effect during the period. Foreign currency transaction gains and losses are recorded as income or expenses as amounts are settled. The net sales from our foreign operations for the first six months of 2018 were $9.9 million as compared to $9.5 million in the first six months of 2017. The net sales from our foreign operations for the second quarter of 2018 were $4.5 million as compared to $4.7 million in the second quarter of 2017.