Note 14 - Segment Information

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

(14)  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 as discussed further in Note 3), 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 automotive, defense/aerospace, industrial, life sciences, 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 and acquired intangible amortization.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2024			2023			2024			2023
Revenue:
Electronic Test	$	15,481		$	11,547		$	42,756		$	32,911
Environmental Technologies		6,734			7,000			21,835			23,178
Process Technologies		8,057			12,394			29,496			39,329
Total revenue	$	30,272		$	30,941		$	94,087		$	95,418
Income from divisional operations:
Electronic Test	$	2,311		$	3,268		$	5,867		$	8,487
Environmental Technologies		426			523			1,434			2,479
Process Technologies		1,070			2,094			4,001			7,362
Total income from divisional operations		3,807			5,885			11,302			18,328
Corporate expenses		(2,376	)		(2,902	)		(7,551	)		(7,416	)
Acquired intangible amortization		(944	)		(515	)		(2,436	)		(1,582	)
Interest expense		(219	)		(168	)		(612	)		(526	)
Other income		301			423			949			678
Earnings before income tax expense	$	569		$	2,723		$	1,652		$	9,482

	September 30,		December 31,
	2024		2023
Identifiable assets:
Electronic Test	$	81,592	$	32,505
Environmental Technologies		21,335		16,772
Process Technologies		53,596		56,842
Corporate		1,844		28,710
	$	158,367	$	134,829

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 September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Revenue:
U.S.	$	10,866	$	10,272	$	35,766	$	31,274
Foreign		19,406		20,669		58,321		64,144
	$	30,272	$	30,941	$	94,087	$	95,418

	September 30,		December 31,
	2024		2023
Property and equipment:
U.S.	$	2,614	$	2,502
Foreign		1,959		688
	$	4,573	$	3,190