Note 17 - Segment Information

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

(17)  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), 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 industrial, automotive, life sciences, defense/aerospace, security and other markets.

Our management team, including our CEO who is also our CODM as defined under U.S. GAAP, evaluates the performance of our operating segments primarily on income from divisional operations which represents divisional revenue, less associated costs of revenue and other divisional costs, and excludes interest expense, other income (expense), corporate expenses and acquired intangible amortization. Other divisional costs represent engineering and product development costs, selling expenses, general and administrative expenses directly attributable to the division.
 

	Year Ended December 31, 2024
(in thousands)	Electronic Test		Environmental Technologies		Process Technologies		Corporate & Other			Consolidated
Revenue	$	63,878	$	28,898	$	37,914	$	-		$	130,690
Cost of revenue		35,843		17,780		21,643		-			75,266
Other divisional costs		19,303		9,002		11,299		-			39,604
Division operating income		8,732		2,116		4,972		-			15,820
Acquired intangible amortization								2,545			2,545
Corporate expenses								9,881			9,881
Operating income		8,732		2,116		4,972		(12,426	)		3,394
Interest expense		-		-		-		(846	)		(846	)
Other income		-		-		-		906			906
Earnings before income tax expense	$	8,732	$	2,116	$	4,972	$	(12,366	)	$	3,454
Supplemental Divisional Disclosures
Depreciation	$	596	$	301	$	387	$	115		$	1,399
Stock-based compensation		217		182		140		1,318			1,857
Capital expenditures		347		561		176		240			1,324
Total assets		75,671		21,163		50,921		4,533			152,288

	Year Ended December 31, 2023
(in thousands)	Electronic Test		Environmental Technologies		Process Technologies		Corporate & Other			Consolidated
Revenue	$	41,016	$	30,801	$	51,485	$	-		$	123,302
Cost of revenue		18,076		18,631		29,617		-			66,324
Other divisional costs		12,751		9,097		12,324		-			34,172
Division operating income		10,189		3,073		9,544		-			22,806
Acquired intangible amortization								2,094			2,094
Corporate expenses								10,273			10,273
Operating income		10,189		3,073		9,544		(12,367	)		10,439
Interest expense		-		-		-		(679	)		(679	)
Other income		-		-		-		1,288			1,288
Earnings before income tax expense	$	10,189	$	3,073	$	9,544	$	(11,758	)	$	11,048
Supplemental Divisional Disclosures
Depreciation	$	283	$	251	$	399	$	89		$	1,022
Stock-based compensation		150		85		209		1,603			2,047
Capital expenditures		599		495		170		27			1,291
Total assets		32,505		16,772		56,842		28,710			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.

	Years Ended December 31,
(in thousands)	2024		2023
Revenue:
U.S.	$	53,712	$	45,222
Foreign		76,978		78,080
	$	130,690	$	123,302

	December 31,
(in thousands)	2024		2023
Property and equipment:
U.S.	$	2,280	$	2,502
Foreign		2,177		688
	$	4,457	$	3,190