Operating Segments and Geographic Information (Tables)

3 Months Ended

Oct. 02, 2021

Segment Reporting [Abstract]

Schedule of information on reportable segments

Information on reportable segments utilized by our CODM is as follows (in millions):

	Three Months Ended
	October 2, 2021		September 26, 2020
Net revenue:
OpComms	$	406.0	$	428.5
Lasers	42.4		23.9
Net revenue	$	448.4	$	452.4
Gross profit:
OpComms	$	225.9	$	224.8
Lasers	20.8		10.4
Total segment gross profit	246.7		235.2
Unallocated corporate items:
Stock-based compensation	(4.6)		(3.7)
Amortization of acquired intangibles	(15.8)		(15.0)
Inventory and fixed asset write down due to product line exits	—		(0.3)
Other (charges) gains (1)	5.9		(10.5)
Gross profit	$	232.2	$	205.7

(1) “Other (charges) gains” of unallocated corporate items for the three months ended October 2, 2021 primarily relate to $5.9 million gain as a result of selling equipment that was no longer needed after we transferred certain product lines to new production facilities in fiscal 2021. “Other (charges) gains” of unallocated corporate items for the three months ended September 26, 2020 primarily include costs of $2.1 million of transferring certain product lines to new production facilities and excess and obsolete inventory charges of $5.9 million driven by U.S. trade restrictions and the related decline in demand from Huawei.

Schedule of revenue by geographic region

The following table presents net revenue by the three geographic regions we operate in and net revenue from countries that represented 10% or more of our total net revenue (in millions, except percentage data):

	Three Months Ended
	October 2, 2021				September 26, 2020
	Amount		% of Total		Amount		% of Total
Net revenue:
Americas:
United States	$	28.1	6.3	%	$	20.3	4.5	%
Mexico	33.0		7.4		39.8		8.8
Other Americas	2.0		0.4		2.8		0.6
Total Americas	$	63.1	14.1	%	$	62.9	13.9	%
Asia-Pacific:
Hong Kong	$	142.3	31.7	%	$	144.4	31.9	%
Philippines	9.1		2.0		62.8		13.9
South Korea	105.1		23.4		56.0		12.4
Other Asia-Pacific	103.0		23.0		91.6		20.2
Total Asia-Pacific	$	359.5	80.1	%	$	354.8	78.4	%
EMEA	$	25.8	5.8	%	$	34.7	7.7	%
Total net revenue	$	448.4			$	452.4

During the three months ended October 2, 2021, net revenue from South Korea increased by $49.1 million and net revenue from Philippines decreased by $53.7 million from the three months ended September 26, 2020 due to changes in our customers’ chosen module integrator for specific new products.

During the three months ended October 2, 2021, our net revenue from a single customer, which represented 10% or greater of total net revenue was concentrated with one customer, who accounted for 41% of our total net revenue. During the three months ended September 26, 2020, our net revenue from a single customer, which represented 10% or greater of total net revenue was concentrated with one customer, who accounted for 35% of our total net revenue.

Our accounts receivable was concentrated with three customers as of October 2, 2021, which individually represented 22%, 19%, and 10% of gross accounts receivable, respectively, compared with two customers as of July 3, 2021, who represented 17% and 14% of gross accounts receivable, respectively.

Schedule of long-lived assets by geographic region

Long-lived assets, namely property, plant and equipment, net, were identified based on the physical location of the assets in the corresponding geographic areas as of the periods indicated (in millions):

	October 2, 2021		July 3, 2021
Property, plant and equipment, net
United States	$	110.9	$	116.7
Thailand	97.8		103.9
China	39.3		41.3
Japan	36.2		36.4
Other countries	69.0		62.8
Total property, plant and equipment, net	$	353.2	$	361.1