Note 12 - Segment Reporting

9 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

Note 12 – Segment Reporting

The Company’s reportable segments are based on the internal reporting used by the Company’s Chief Executive Officer, who is the chief operating decision maker (CODM), to assess operating performance and make decisions about the allocation of resources. The Corporate Unallocated and Japan category includes non-reportable segments, as well as research and development and general and administrative costs that the Company does not allocate directly to its operating segments.

Intercompany transactions primarily relate to intercontinental activity and have been eliminated and are excluded from the reported amounts. The difference between income from operations and pre-tax income relates to foreign currency-related gains and losses and interest income on cash balances and investments, which are not allocated to business segments. 

Revenue and income from operations by reportable segment for the three and nine months ended September 30, 2021 and 2020 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2021		2020		2021		2020
Revenue:
United States	$	100,127	$	85,608	$	286,524	$	262,507
Europe		22,155		18,897		68,259		56,413
Japan		3,060		2,999		9,733		10,267
Total revenue	$	125,342	$	107,504	$	364,516	$	329,187

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands)	2021			2020			2021			2020
Income from Operations:
United States	$	23,475		$	25,164		$	72,258		$	74,602
Europe		(2,223	)		3,764			1,469			10,389
Corporate Unallocated and Japan		(14,325	)		(11,259	)		(46,435	)		(36,146	)
Total Income from Operations	$	6,927		$	17,669		$	27,292		$	48,845

Total long-lived assets at  September 30, 2021 and December 31, 2020 were as follows:

	September 30,		December 31,
(in thousands)	2021		2020
Total long-lived assets:
United States	$	216,996	$	215,721
Europe		60,187		59,388
Japan		5,836		7,557
Total Long-lived Assets	$	283,019	$	282,666

Revenue by product line for the three and nine months ended September 30, 2021 and 2020 were as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2021		2020		2021		2020
Revenue:
Injection Molding	$	57,685	$	53,257	$	172,212	$	165,927
CNC Machining		43,658		33,115		121,953		99,760
3D Printing		18,589		16,294		53,994		46,478
Sheet Metal		4,854		3,988		14,790		14,306
Other Revenue		556		850		1,567		2,716
Total revenue	$	125,342	$	107,504	$	364,516	$	329,187