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Reportable Segments
 6 Months Ended
Jun. 26, 2020
Segment Reporting [Abstract]  
Reportable Segments

15. REPORTABLE SEGMENTS

 

The Company operates and reports results for two operating segments: SPS and SSB. These segments are organized primarily by the nature of the products and service they provide. The Company’s Chief Executive Officer (chief operating decision maker) views and evaluates operations based on the results of each of the reportable segments. The following table describes each segment:

 

Segment

 

Product or Services

 

Markets Served

 

Geographic Areas

SPS

 

Assembly

Weldments

Machining

Fabrication

 

Semiconductor

 

United States

Asia

Europe

SSB

 

Cleaning

Analytics

 

Semiconductor

 

United States

Asia

Europe

 

The Company uses segment profit or loss as the primary measure of profitability to evaluate operating performance and to allocate capital resources. Segment profit or loss is defined as income or loss from continuing operations before other income and income taxes included in the accompanying condensed consolidated statements of operations.

 

Any intercompany sales and associated profit (and any other intercompany items) are eliminated from segment results. There were no significant intercompany eliminations for the periods presented.

Segment Data

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 26,

 

 

June 28,

 

 

June 26,

 

 

June 28,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SPS

 

$

277.9

 

 

$

210.4

 

 

$

537.3

 

 

$

410.6

 

SSB

 

 

66.9

 

 

 

55.0

 

 

 

128.4

 

 

 

114.9

 

Total segment revenues

 

$

344.8

 

 

$

265.4

 

 

$

665.7

 

 

$

525.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross profit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SPS

 

$

48.6

 

 

$

29.3

 

 

$

93.3

 

 

$

55.0

 

SSB

 

 

25.3

 

 

 

18.9

 

 

 

46.3

 

 

 

38.0

 

Total segment gross profit

 

$

73.9

 

 

$

48.2

 

 

$

139.6

 

 

$

93.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating profit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SPS

 

$

24.3

 

 

$

6.4

 

 

$

44.6

 

 

$

10.7

 

SSB

 

 

6.5

 

 

 

2.6

 

 

 

8.8

 

 

 

6.5

 

Consolidated income from operations

 

$

30.8

 

 

$

9.0

 

 

$

53.4

 

 

$

17.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 26,

 

 

December 27,

 

 

 

 

 

 

 

 

 

 

 

2020

 

 

2019

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

SPS

 

 

 

 

 

 

 

 

 

$

899.7

 

 

$

828.0

 

SSB

 

 

 

 

 

 

 

 

 

 

215.1

 

 

 

191.3

 

Total segment assets

 

 

 

 

 

 

 

 

 

$

1,114.8

 

 

$

1,019.3

 

 

 

As of June 26, 2020, approximately $83.4 million and $8.1 million of the Company’s net long-lived assets were located in Asia and Europe, respectively, and the remaining balances were located in the United States. At December 27, 2019, approximately $81.4 million and $3.3 million of the Company’s net long-lived assets were located in Asia and Europe, respectively, and the remaining balances were located in the United States.