Segment Information

12 Months Ended

Dec. 27, 2024

Segment Reporting [Abstract]

Segment Information

Note 10 – Segment Information

We operate as a single business operating segment, which includes all activities related to the design, engineering, and manufacturing of critical fluid delivery subsystems and components for semiconductor capital equipment. Accordingly, we report as one reportable segment. The determination of a single business operating segment is consistent with the consolidated financial information regularly provided to our chief operating decision maker (“CODM”). The consolidated financial information provided to our CODM does not contain significant disaggregated expenses outside of what is already disclosed in our statements of operations and notes thereto included in these consolidated financial statements. Our CODM is our Chief Executive Officer, and the CODM reviews and evaluates consolidated net income for purposes of assessing performance, making operating decisions, allocating resources, and planning and forecasting for future periods.

Foreign operations are conducted primarily through our wholly owned subsidiaries in Singapore and Malaysia, and to a lesser degree, Scotland, Korea, and Mexico. Our principal markets include North America, Asia, and to a lesser degree, Europe.

The following table sets forth sales by geographic area, which represents sales to unaffiliated customers based upon the location to which the products were shipped:

	Year Ended
	December 27, 2024		December 29, 2023		December 30, 2022
Singapore	$	353,219	$	318,790	$	460,569
United States of America	268,946		281,298		572,129
Europe	98,855		116,316		109,547
Other	128,020		94,716		137,824
Total net sales	$	849,040	$	811,120	$	1,280,069

The following table sets forth our major customers with 10% or more of sales, which comprised 73%, 82%, and 79% of net sales in 2024, 2023, and 2022, respectively:

	Year Ended
	December 27, 2024		December 29, 2023		December 30, 2022
Lam Research	$	319,099	$	286,836	$	616,391
Applied Materials	$	300,263	$	295,082	$	396,261
ASML (1)	—		$	85,589	—

(1)ASML did not represent 10% or more of sales in 2024 and 2022.

Foreign long-lived assets, exclusive of deferred tax assets, were $62.5 million and $48.2 million at December 27, 2024 and December 29, 2023, respectively.