This excerpt taken from the SPAN 10-K filed Jan 3, 2005.
Revenue is recognized by the Company when goods are shipped and title passes to the customer. There are no customer acceptance provisions, and the right to return exists only in cases of damaged product, non-compliance with customer specifications or warranty claims.
1. SIGNIFICANT ACCOUNTING POLICIES (continued)
The Company has applied the accounting and disclosure requirements of Securities and Exchange Commission Staff Accounting Bulletin (SAB) No. 101.