Operating Segment, Geographic Information and Significant Customers

9 Months Ended

Mar. 31, 2017

Segment Reporting [Abstract]

Operating Segment, Geographic Information and Significant Customers

Operating Segment, Geographic Information and Significant Customers

Operating segments are defined as components of an enterprise evaluated regularly by the Company's chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company is comprised of one operating and reportable segment. The Company utilized the management approach for determining its operating segment in accordance with FASB ASC 280, Segment Reporting.

The geographic distribution of the Company’s revenues as determined by order origination based on the country in which the Company's legal subsidiary is domiciled is summarized as follows:

	U.S.		Europe		Asia Pacific		Eliminations			Total
THREE MONTHS ENDED MARCH 31, 2017
Net revenues to unaffiliated customers	$	98,599	$	8,085	$	633	$	—		$	107,317
Inter-geographic revenues	1,745		21		—		(1,766		)	—
Net revenues	$	100,344	$	8,106	$	633	$	(1,766	)	$	107,317
THREE MONTHS ENDED MARCH 31, 2016
Net revenues to unaffiliated customers	$	62,675	$	1,742	$	1,481	$	—		$	65,898
Inter-geographic revenues	1,598		18		—		(1,616		)	—
Net revenues	$	64,273	$	1,760	$	1,481	$	(1,616	)	$	65,898
NINE MONTHS ENDED MARCH 31, 2017
Net revenues to unaffiliated customers	$	273,054	$	14,747	$	5,179	$	—		$	292,980
Inter-geographic revenues	6,925		36		—		(6,961		)	—
Net revenues	$	279,979	$	14,783	$	5,179	$	(6,961	)	$	292,980
NINE MONTHS ENDED MARCH 31, 2016
Net revenues to unaffiliated customers	$	178,249	$	2,852	$	3,623	$	—		$	184,724
Inter-geographic revenues	4,800		420		—		(5,220		)	—
Net revenues	$	183,049	$	3,272	$	3,623	$	(5,220	)	$	184,724

In recent years, the Company completed a series of acquisitions that changed its technological capabilities, applications and end markets. As these acquisitions and changes occurred, the Company increased the proportion of its revenue derived from the sale of components in different technological areas, and also increased the amount of revenue associated with combining technologies into more complex and diverse products including modules, sub-assemblies and integrated subsystems. The following tables present revenue consistent with the Company's strategy of expanding its technological capabilities and program content.

	Three Months Ended March 31,				Nine Months Ended March 31,
	2017		2016		2017		2016
Domestic (1)	$	87,765	$	52,054	$	244,343	$	149,826
International/Foreign Military Sales (2)	19,552		13,844		48,637		34,898
Total Net Revenue	$	107,317	$	65,898	$	292,980	$	184,724

(1) Domestic revenues consist of sales where the end user is within the U.S., as well as sales to prime defense contractor customers where the ultimate end user location is not defined. 

(2) International/Foreign Military Sales consist of sales to U.S. prime defense contractor customers where the end user is outside the U.S., foreign military sales through the U.S. government, and direct sales to non-U.S. based customers intended for end use outside of the U.S.

The following table below presents the Company's net revenue by end application for the periods presented:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2017		2016		2017		2016
Radar (1)	$	33,017	$	39,207	$	115,308	$	103,925
Electronic Warfare (2)	35,920		17,915		78,204		51,136
Other (3)	38,380		8,776		99,468		29,663
Total Net Revenue	$	107,317	$	65,898	$	292,980	$	184,724

(1) Radar includes end-use applications where radio frequency signals are utilized to detect, track, and identify objects.

(2) Electronic Warfare includes end-use applications comprising the offensive and defensive use of the electromagnetic spectrum.

(3) Other products include all end markets other than Radar and Electronic Warfare. Examples include but are not limited to various commercial and other end-use applications and technologies, as well as various component and other sales where the end use is not specified.

The following table below presents the Company's net revenue by product grouping for the periods presented:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2017		2016		2017		2016
Components (1)	$	26,920	$	5,179	$	74,126	$	16,838
Modules and Sub-assemblies (2)	43,330		34,061		115,744		90,680
Integrated Subsystems (3)	37,067		26,658		103,110		77,206
Total Net Revenue	$	107,317	$	65,898	$	292,980	$	184,724

(1) Components include technology elements typically performing a single, discrete technological function, which when physically combined with other components may be used to create a module or sub-assembly. Examples include but are not limited to power amplifiers and limiters, switches, oscillators, filters, equalizers, digital and analog converters, chips, MMICs (monolithic microwave integrated circuits), and memory and storage devices.

(2) Modules and Sub-assemblies include combinations of multiple functional technology elements and/or components that work together to perform multiple functions but are typically resident on or within a single board or housing. Modules and sub-assemblies may in turn be combined to form an integrated subsystem. Examples of modules and sub-assemblies include but are not limited to embedded processing modules, embedded processing boards, switch fabric boards, high speed input/output boards, digital receiver boards, graphics and video processing and Ethernet and IO (input-output) boards, multi-chip modules, integrated radio frequency and microwave multi-function assemblies, tuners, and transceivers.

(3) Integrated Subsystems include multiple modules and/or subassemblies combined with a backplane or similar functional element and software to enable a solution. These are typically but not always integrated within a chassis and with cooling, power and other elements to address various requirements and are also often combined with additional technologies for interaction with other parts of a complete system or platform. Integrated subsystems also include spare and replacement modules and sub-assemblies sold as part of the same program for use in or with integrated subsystems sold by the Company.

The geographic distribution of the Company’s long-lived assets is summarized as follows:

	U.S.		Europe		Asia Pacific		Eliminations		Total
March 31, 2017	$	45,890	$	1,448	$	18	$	—	$	47,356
June 30, 2016	$	28,187	$	127	$	23	$	—	$	28,337

Identifiable long-lived assets exclude goodwill and intangible assets.

Customers comprising 10% or more of the Company’s revenues for the periods shown below are as follows:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2017		2016		2017		2016
Raytheon Company	14	%	17	%	17	%	28	%
Lockheed Martin Corporation	27	%	26	%	22	%	23	%
Northrop Grumman Corporation	*		14	%	*		*
	41	%	57	%	39	%	51	%

While the Company typically has customers from which it derives 10% or more of its revenue, the sales to each of these customers are spread across multiple programs and platforms. Programs comprising 10% or more of the Company’s revenues for the periods shown below are as follows:

	Three Months Ended March 31,				Nine Months Ended March 31,
	2017		2016		2017		2016
SEWIP	18	%	12	%	*		12	%
Patriot	*		*		*		11	%
	18	%	12	%	—	%	23	%

* Indicates that the amount is less than 10% of the Company’s revenues for the respective period.