Business Segments

6 Months Ended

Apr. 04, 2015

Segment Reporting [Abstract]

Business Segments

Reportable 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 group, in assessing performance and allocating resources. The Company uses an internal management reporting system, which provides important financial data to evaluate performance and allocate the Company’s resources on a regional basis. Net sales for segments are attributed to the region in which the product is manufactured or the service is performed. The services provided, manufacturing processes used, class of customers serviced and order fulfillment processes used are similar and generally interchangeable across the segments. A segment’s performance is evaluated based upon its operating income (loss). A segment’s operating income (loss) includes its net sales less cost of sales and selling and administrative expenses, but excludes corporate and other expenses. Corporate and other expenses primarily represent corporate selling and administrative expenses, and restructuring and impairment expenses, if any. These costs are not allocated to the segments, as management excludes such costs when assessing the performance of the segments. Inter-segment transactions are generally recorded at amounts that approximate arm’s length transactions. The accounting policies for the segments are the same as for the Company taken as a whole.

Information about the Company’s three reportable segments for the three and six months ended April 4, 2015 and March 29, 2014, respectively, follows (in thousands):

	Three Months Ended						Six Months Ended
	April 4, 2015			March 29, 2014			April 4, 2015			March 29, 2014
Net sales:
AMER	$	328,753		$	279,271		$	664,015		$	544,280
APAC	319,156			265,582			652,533			535,733
EMEA	35,773			32,240			63,853			59,054
Elimination of inter-segment sales	(32,397		)	(19,477		)	(64,426		)	(47,546		)
	$	651,285		$	557,616		$	1,315,975		$	1,091,521
Operating income (loss):
AMER	$	15,714		$	14,868		$	35,466		$	31,924
APAC	40,989			34,312			82,770			66,254
EMEA	(1,793		)	(1,448		)	(5,624		)	(3,913		)
Corporate expenses and other costs	(25,458		)	(28,732		)	(54,378		)	(53,504		)
	$	29,452		$	19,000		$	58,234		$	40,761
Other income (expense):
Interest expense	$	(3,383	)	$	(3,082	)	$	(7,160	)	$	(5,896	)
Interest income	788			683			1,686			1,322
Miscellaneous	(60		)	671			78			911
Income before income taxes	$	26,797		$	17,272		$	52,838		$	37,098
	April 4, 2015			September 27, 2014
Total assets:
AMER	$	537,201		$	521,259
APAC	948,779			881,426
EMEA	112,068			135,841
Corporate and eliminations	58,101			70,500
	$	1,656,149		$	1,609,026