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Segment Information
6 Months Ended
Jun. 30, 2013
Segment Reporting [Abstract]  
Segment Information

NOTE 15: Segment Information

The Company has two reportable segments: the Modular Vision Systems Division (MVSD) and the Surface Inspection Systems Division (SISD). MVSD develops, manufactures, and markets modular vision systems that are used to control the manufacture of discrete items by locating, identifying, inspecting, and measuring them during the manufacturing process. SISD develops, manufactures, and markets surface inspection vision systems that are used to inspect surfaces of materials processed in a continuous fashion, such as metals, paper, nonwoven, plastics, and glass, to ensure there are no flaws or defects on the surfaces. Segments are determined based upon the way that management organizes its business for making operating decisions and assessing performance. The Company evaluates segment performance based upon income or loss from operations, excluding stock-based compensation expense.

 

The following table summarizes information about the segments (in thousands):

 

Three-months Ended

June 30, 2013

   MVSD      SISD      Reconciling
Items
    Consolidated  

Product revenue

   $ 72,012       $ 7,686       $ —        $ 79,698   

Service revenue

     2,301         4,511         —          6,812   

Operating income

     23,527         2,227         (5,581     20,173   

Six-months Ended

June 30, 2013

   MVSD      SISD      Reconciling
Items
    Consolidated  

Product revenue

   $ 140,331       $ 14,039       $ —        $ 154,370   

Service revenue

     4,393         8,639         —          13,032   

Operating income

     45,603         3,959         (11,408     38,154   

Three-months Ended

July 1, 2012

   MVSD      SISD      Reconciling
Items
    Consolidated  

Product revenue

   $ 69,743       $ 8,706       $ —        $ 78,449   

Service revenue

     1,778         4,099         —          5,877   

Operating income

     25,035         2,848         (4,533     23,350   

Six-months Ended

July 1, 2012

   MVSD      SISD      Reconciling
Items
    Consolidated  

Product revenue

   $ 133,964       $ 15,892       $ —        $ 149,856   

Service revenue

     3,698         8,481         —          12,179   

Operating income

     46,179         5,240         (10,328     41,091   

Reconciling items consist of stock-based compensation expense and unallocated corporate expenses, which primarily include corporate headquarters costs, professional fees, and patent infringement litigation. Additional asset information by segment is not produced internally for use by the chief operating decision maker, and therefore, is not presented. Additional asset information is not provided because cash and investments are commingled and the segments share assets and resources in a number of locations around the world.