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SEGMENT INFORMATION
3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION SEGMENT INFORMATION
We have three operating segments which are also our reportable segments and reporting units: Electronic Test (which includes our semiconductor test equipment, flying probe and in-circuit testers and the operations of Alfamation™ which we acquired on March 12, 2024 - see “Note (3) Acquisition”), Environmental Technologies (which includes our thermal test, process and storage products) and Process Technologies (which includes our induction heating and video imaging products). We operate our business worldwide and sell our products both domestically and internationally. All of our segments sell to semiconductor manufacturers, third-party test and assembly houses and ATE manufacturers and to a variety of markets outside of the semi market, including the auto/EV, defense/aerospace, industrial, life sciences, safety/security and other markets.
Our management team, including our CEO who is also our Chief Operating Decision Maker as defined under U.S. GAAP, evaluates the performance of our operating segments primarily on income from divisional operations which represents earnings before income tax expense and excludes interest expense, other income (expense), corporate expenses, restructuring costs and acquired intangible amortization.
Three Months Ended March 31, 2025
(in thousands)Electronic
 Test
Environmental
Technologies
Process
Technologies
Corporate &
Other
Consolidated
Revenue$13,259 $6,268 $7,110 $— $26,637 
Cost of revenue7,313 4,163 4,105 — 15,581 
Other divisional costs5,265 2,360 2,798 — 10,423 
Division operating income (loss)681 (255)207  633 
Acquired intangible amortization813 813 
Restructuring costs313 313 
Corporate expenses
2,388 2,388 
Operating (loss) income681 (255)207 (3,514)(2,881)
Interest expense
(152)(152)
Other income244 244 
(Loss) earnings before income tax (benefit) expense$681 $(255)$207 $(3,422)$(2,789)
Supplemental Disclosures:
Depreciation154 65 62 35 316 
Stock-based compensation54 (32)52 349 423 
Capital expenditures134 82 229 
Total assets73,322 21,666 51,467 1,572 148,027 

Three Months Ended March 31, 2024
(in thousands)Electronic
 Test
Environmental
Technologies
Process
Technologies
Corporate &
Other
Consolidated
Revenue$11,116 $6,828 $11,880 $— $29,824 
Cost of revenue5,546 4,533 6,669 — 16,748 
Other divisional costs3,757 2,280 3,250 — 9,287 
Division operating income (loss)1,813 15 1,961  3,789 
Acquired intangible amortization595 595 
Corporate expenses
2,702 2,702 
Operating income (loss)1,813 15 1,961 (3,297)492 
Interest expense
(140)(140)
Other income435 435 
Earnings (loss) before income tax expense (benefit)$1,813 $15 $1,961 $(3,002)$787 
Supplemental Disclosures:
Depreciation$88 $64 $100 $21 $273 
Stock-based compensation53 38 (18)276 349 
Capital expenditures36 229 70 340 
Total assets$75,508 $16,624 $57,815 $9,580 $159,527 
The following table provides information about our geographic areas of operation. Revenue is based on the location to which the goods are shipped.
Three Months Ended March 31,
(in thousands)20252024
Revenue:
U.S.$12,666 $10,477 
Foreign13,971 19,347 
$26,637 $29,824 
(in thousands)March 31,
2025
December 31,
2024
Property and equipment:
U.S.$2,211 $2,280 
Foreign2,217 2,177 
$4,428 $4,457