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Note 10 Business Segment, Geographic and Customer Information
3 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Reporting Disclosure [Text Block] Business Segment, Geographic and Customer Information
ASC Topic 280, Segment Reporting, establishes standards for reporting information about operating segments, products and services, geographic areas of operations and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available and evaluated regularly by the chief operating decision maker or decision making group in deciding how to allocate resources and in assessing performance.

The Company’s operations are managed as two businesses: Integrated Manufacturing Solutions (“IMS”) and CPS. The Company’s CPS business consists of multiple operating segments which do not meet the quantitative threshold for being presented individually as reportable segments. Therefore, financial information for these operating segments is presented in a single category entitled “CPS” and the Company has only one reportable segment - IMS.

The following table presents revenue and a measure of segment gross profit used by management to allocate resources and assess performance of operating segments:
Three Months Ended
December 31,
2022
January 1,
2022
(In thousands)
Gross sales:
IMS$1,937,668 $1,425,010 
CPS463,646 367,277 
Intersegment revenue (39,953)(34,962)
Net sales$2,361,361 $1,757,325 
Gross profit:
IMS$133,337 $106,629 
CPS61,845 42,738 
Total195,182 149,367 
Unallocated items (1)(4,475)(4,878)
Total$190,707 $144,489 

(1)    For purposes of evaluating segment performance, management excludes certain items from its measure of gross profit. These items consist of stock-based compensation expense, amortization of intangible assets and litigation settlements.
Net sales by geographic segment, determined based on the country in which a product is manufactured, were as
follows:
Three Months Ended
December 31,
2022
January 1,
2022
(In thousands)
Net sales:
Americas (1)$1,141,304 $797,020 
APAC914,341 691,071 
EMEA305,716 269,234 
Total
$2,361,361 $1,757,325 

(1)    Mexico represents approximately 70% and 60% of the Americas revenue and the U.S. represents approximately 30% and 40% of the Americas revenue for the first quarter of 2023 and 2022, respectively.
Percentage of net sales represented by ten largest customers51 %48 %
Number of customers representing 10% or more of net sales