XML 33 R21.htm IDEA: XBRL DOCUMENT v3.23.1
Disaggregation of Sales, Geographic Sales and Product Sales
3 Months Ended
Mar. 31, 2023
Segment Reporting [Abstract]  
Disaggregation of Sales, Geographic Sales and Product Sales

Note 14 — Disaggregation of Sales, Geographic Sales and Product Sales

In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data. The following breaks down sales into the following categories (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31, 2023

 

 

April 1, 2022

 

Non-consignment sales

 

$

67,163

 

 

$

57,569

 

Consignment sales

 

 

6,365

 

 

 

5,631

 

Total net sales

 

$

73,528

 

 

$

63,200

 

 

The Company markets and sells its products in over 75 countries and conducts its manufacturing in the United States. Other than China and Japan, the Company does not conduct business in any country in which its sales exceed 10% of worldwide consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31, 2023

 

 

April 1, 2022

 

Domestic

 

$

4,551

 

 

$

2,630

 

Foreign:

 

 

 

 

 

 

China

 

 

35,090

 

 

 

28,239

 

Japan

 

 

10,936

 

 

 

11,633

 

Other(1)

 

 

22,951

 

 

 

20,698

 

Total foreign sales

 

 

68,977

 

 

 

60,570

 

Total net sales

 

$

73,528

 

 

$

63,200

 

 

(1)
No other location individually exceeds 10% of the total sales.

100% of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes operating decisions and allocates resources based upon the consolidated operating results, and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery and intraocular lenses (“IOLs”) used in cataract surgery. The composition of the Company’s net sales by product line was as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

March 31, 2023

 

 

April 1, 2022

 

ICLs

 

$

70,625

 

 

$

58,675

 

Other product sales:

 

 

 

 

 

 

Cataract IOLs

 

 

1,476

 

 

 

2,902

 

Other surgical products(1)

 

 

1,427

 

 

 

1,623

 

Total other product sales

 

 

2,903

 

 

 

4,525

 

Total net sales

 

$

73,528

 

 

$

63,200

 

 

(1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances.

 

One customer, the Company’s distributor in China, accounted for 48% and 45% of net sales for the three months ended March 31, 2023 and April 1, 2022, respectively. As of March 31, 2023 and December 30, 2022, respectively, one customer, the Company’s distributor in China, accounted for 55% and 59% of consolidated trade receivables.