Note 11 - Segment and Geographic Information

3 Months Ended

Mar. 29, 2025

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

11.       Segment and Geographic Information

We applied the provisions of ASC 280, which sets forth a management approach to segment reporting and establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products, major customers and the geographies in which the entity holds material assets and reports revenue. An operating segment is defined as a component that engages in business activities whose operating results are reviewed by the CODM, which is our Chief Executive Officer, Luis A. Müller and for which discrete financial information is available. We have determined that our three identified operating segments are: TH, ST and IS. Our TH, ST and IS operating segments qualify for aggregation under ASC 280 due to similarities in their customers, their economic characteristics, and the nature of products and services provided. As a result, we report in one segment, Semiconductor Test & Inspection, which derives revenue from the design and manufacture of equipment and components used in the testing of semiconductors.

The CODM assesses performance of the Semiconductor Test & Inspection segment and decides how to allocate resources based on income (loss) before taxes. The table below summarizes selected financial information for our single reportable segment.

	Three Months Ended			Three Months Ended
	March 29,			March 30,
(in thousands)	2025			2024
Net sales	$	96,797		$	107,614
Cost and expenses:
Cost of sales		54,155			58,138
Research and development		21,933			21,502
Selling		13,124			14,475
General & administrative		12,201			17,040
Amortization of purchased intangible assets		9,852			9,795
Stock-based compensation		6,230			4,628
Other segment items (1)		5,268			(1,629	)
Loss before taxes	$	(25,966	)	$	(16,335	)

(1) Other segment items include restructuring charges as well as miscellaneous non-operating items.

For revenues by geography and information on customer concentration, see Note 1, “Summary of Significant Accounting Policies”.