v3.21.1
Revenues from contracts with customers
9 Months Ended
Mar. 26, 2021
Revenue from Contract with Customer [Abstract]  
Revenues from contracts with customers Revenues from contracts with customers
Revenue by Geographic Area and End Market
Revenues are attributed to a particular geographic area based on the bill-to-location of the Company’s customers. The Company operates in three geographic regions: North America, Asia-Pacific and others and Europe.
The following table presents total revenues by geographic region:
(amount in thousands, except percentages)Three Months Ended
March 26, 2021
As a % of Total
Revenues
Nine Months Ended
March 26, 2021
As a % of Total
Revenues
North America
   U.S.230,177 661,410 
   Others 618 1,459 
   Total revenue in North America230,795 48.2 %662,869 48.4 %
Asia-Pacific and others
   Malaysia22,910 107,700 
   India56,719 85,535 
   Israel25,796 82,915 
   Hong Kong21,524 63,397 
   Japan18,582 56,223 
   Others21,770 71,477 
   Total revenue in Asia-Pacific and others167,301 34.9 %467,247 34.1 %
Europe
   Ireland47,096 149,696 
   U.K.15,298 40,742 
   Germany7,543 19,596 
   Others11,284 29,633 
   Total revenue in Europe$81,221 16.9 %$239,667 17.5 %
         Total revenue$479,317 100.0 %$1,369,783 100.0 %
(amount in thousands, except percentages)Three Months Ended
March 27, 2020
As a % of Total
Revenues
Nine Months Ended
March 27, 2020
As a % of Total
Revenues
North America
   U.S.206,329 630,023 
   Others 422 1,073 
   Total revenue in North America206,751 50.3 %631,096 51.0 %
Asia-Pacific and others
   Malaysia52,414 136,698 
   Japan24,985 78,362 
   Hong Kong20,710 70,410 
   Israel25,530 69,310 
   China8,126 34,882 
   Others9,874 11,547 
   Total revenue in Asia-Pacific and others141,639 34.4 %401,209 32.5 %
Europe
   Ireland26,716 84,034 
   U.K.22,297 52,941 
   Germany5,600 41,207 
   Others8,207 26,236 
   Total revenue in Europe$62,820 15.3 %$204,418 16.5 %
         Total revenue$411,210 100.0 %$1,236,723 100.0 %
The following table presents revenues by end market.
(amount in thousands, except percentages)Three Months Ended
March 26, 2021
As a % of Total
Revenues
Nine Months Ended
March 26, 2021
As a % of Total
Revenues
Optical communications$361,739 75.5 %$1,053,496 76.9 %
Lasers, sensors and other117,578 24.5 %316,287 23.1 %
Total$479,317 100.0 %$1,369,783 100.0 %

(amount in thousands, except percentages)Three Months Ended
March 27, 2020
As a % of Total
Revenues
Nine Months Ended
March 27, 2020
As a % of Total
Revenues
Optical communications$308,566 75.0 %$933,013 75.4 %
Lasers, sensors and other102,644 25.0 %303,710 24.6 %
Total$411,210 100.0 %$1,236,723 100.0 %
Contract Assets and Liabilities
A contract asset is recognized when the Company has recognized revenues prior to generating an invoice for payment. Contract assets are classified separately within the unaudited condensed consolidated balance sheets and transferred to accounts receivable when rights to payment become unconditional.
A contract liability is recognized when the Company has advance payment arrangements with customers. The contract liabilities balance is normally recognized as revenue within six months.
The following tables summarize the activity in the Company’s contract assets and contract liabilities during the nine months ended March 26, 2021:
(amount in thousands)Contract
Assets
Beginning balance, June 26, 2020
$13,256 
Revenue recognized50,841 
Amounts collected or invoiced(46,967)
Ending balance, March 26, 2021
$17,130 
(amount in thousands)Contract
Liabilities
Beginning balance, June 26, 2020
$1,556 
Advance payment received during the period16,414 
Revenue recognized(16,561)
Ending balance, March 26, 2021
$1,409