BUSINESS SEGMENT

3 Months Ended

Dec. 28, 2024

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Business Segment

The Company’s operations are managed as two businesses: IMS and CPS. The Company’s CPS business consists of multiple operating segments which do not individually meet the quantitative thresholds for being presented 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 Company’s chief operating decision maker is the Chief Executive Officer who allocates resources and assesses performance of operating segments based on a measure of revenue and gross profit that excludes items not directly related to the Company’s ongoing business operations. These items are typically either non-recurring or non-cash in nature. Intersegment revenue consist primarily of sales of components from CPS to 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 28, 2024		December 30, 2023
	(In thousands)
Gross sales:
IMS	$	1,623,437	$	1,505,521
CPS	415,685		394,271
Intersegment revenue	(32,774)		(24,994)
Net sales	$	2,006,348	$	1,874,798
Gross profit:
IMS	$	127,965	$	113,800
CPS	52,127		51,090
Total	180,092		164,890
Unallocated corporate items (1)	(12,177)		(4,050)
Total	$	167,915	$	160,840

(1)    For purposes of evaluating segment performance, management excludes certain items from its measures of gross profit. These items consist of stock-based compensation expense, litigation settlements and charges resulting from distressed customers.