Segment and Geographic Information

12 Months Ended

Apr. 02, 2016

Segment Reporting [Abstract]

Product and Geographic Information

Segment and Geographic Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker, or decision making group, in deciding how to allocate resources and in assessing performance. Our chief operating decision maker is our Chief Executive Officer. During 2016, we operated in two segments, Component Processing and Micromachining. Included within Component Processing are interconnect products, semiconductor products and component test products. The interconnect, semiconductor and component test products are sold primarily to manufacturers of electronic components and are used to drill, cut, trim, ablate, test and mark features that improve the yield or functionality of the component. Micromachining products are sold primarily to manufacturers of end devices across multiple industries and are used primarily to drill, cut or mark features on a variety of materials, generally on the casing or external surface of the end device. In addition, micromachining products tend to serve markets that require fewer features, less stringent design requirements, and lower cost. The Company uses Generally Accepted Account Principles ("GAAP") accounting for segment reporting consistent with the accounting policies of the consolidated entity. Refer to footnote 2. Summary of Significant Accounting Policies for more information.

Segment disclosures are presented to the gross profit level as this is the primary performance measure for which the segment management are responsible. Corporate and other charges include amortization of acquired intangible assets, stock-based compensation, restructuring and other costs. Selling, general and administrative and other operating expenses are managed at the functional and corporate levels, and because allocation to the market segments would be arbitrary, have not been allocated to the market segments. See the consolidated statements of operations for reconciliations from gross profit to income before taxes. These reconciling items are not included in the measure of profit and loss for each reportable segment.

Net sales by segment were as follows:

(In thousands)	2016		2015		2014
Component Processing	$	152,284	$	124,598	$	141,401
Micromachining	32,107		34,520		39,766
	$	184,391	$	159,118	$	181,167

Gross profits by segment were as follows:

(In thousands)	2016			2015			2014
Component Processing	$	66,693		$	50,970		$	63,914
Micromachining	9,386			6,383			12,175
Corporate and other	(3,376		)	(2,672		)	(16,218		)
	$	72,703		$	54,681		$	59,871

Net sales by geographic area, based on the location of the end user, were as follows:

(In thousands)	2016		2015		2014
Asia	$	152,259	$	124,049	$	136,336
Americas	21,206		18,067		31,596
Europe	10,926		17,002		13,235
	$	184,391	$	159,118	$	181,167

Long-lived assets, exclusive of investments and net deferred tax assets, by geographic area were as follows:

(In thousands)	2016		2015
Americas	$	26,359	$	28,606
Asia	17,318		19,775
Europe	5,579		5,960
	$	49,256	$	54,341

The amounts shown for 2015 long-lived assets by geographic area have been revised to include the Goodwill impairment recorded and included in results from operations in the fourth quarter of 2015.