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Operating Segment, Geographic Information and Significant Customers | 12 Months Ended
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Jun. 28, 2024
Segment Reporting [Abstract] |
Operating Segment, Geographic Information and Significant Customers | Operating Segment, Geographic Information and Significant Customers Operating segments are defined as components of an enterprise evaluated regularly by the Company's chief operating decision maker (“CODM”) in deciding how to allocate resources and assess performance. The Company evaluated its internal organization under FASB ASC 280, Segment Reporting ("ASC 280") to determine whether there has been a change to its conclusion of a single operating and reportable segment. The Company concluded there has been no changes given the CODM continues to evaluate and manage the Company on the basis of one operating and reportable segment. The Company utilized the management approach for determining its operating segment in accordance with ASC 280. The geographic distribution of the Company’s revenues as determined by order origination based on the country in which the Company's legal subsidiary is domiciled is summarized as follows:
| U.S. |  | Europe |  | Asia Pacific |  | Eliminations |  | Total
YEAR ENDED JUNE 28, 2024 |  |  |  |  |  |  |  |  |
Net revenues to unaffiliated customers | $ | 785,881 |  |  | $ | 49,375 |  |  | $ | 19 |  |  | $ | — |  |  | $ | 835,275 |
Inter-geographic revenues | 6,777 |  |  | 1,369 |  |  | — |  |  | (8,146) |  |  | — |
Net revenues | $ | 792,658 |  |  | $ | 50,744 |  |  | $ | 19 |  |  | $ | (8,146) |  |  | $ | 835,275 |
Identifiable long-lived assets (1) | $ | 107,655 |  |  | $ | 2,698 |  |  | $ | — |  |  | $ | — |  |  | $ | 110,353 |
YEAR ENDED JUNE 30, 2023 |  |  |  |  |  |  |  |  |
Net revenues to unaffiliated customers | $ | 927,003 |  |  | $ | 46,857 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 973,882 |
Inter-geographic revenues | 2,764 |  |  | 447 |  |  | — |  |  | (3,211) |  |  | — |
Net revenues | $ | 929,767 |  |  | $ | 47,304 |  |  | $ | 22 |  |  | $ | (3,211) |  |  | $ | 973,882 |
Identifiable long-lived assets (1) | $ | 116,381 |  |  | $ | 3,173 |  |  | $ | — |  |  | $ | — |  |  | $ | 119,554 |
YEAR ENDED JULY 1, 2022 |  |  |  |  |  |  |  |  |
Net revenues to unaffiliated customers | $ | 945,600 |  |  | $ | 41,390 |  |  | $ | 1,207 |  |  | $ | — |  |  | $ | 988,197 |
Inter-geographic revenues | 2,578 |  |  | 2,408 |  |  | — |  |  | (4,986) |  |  | — |
Net revenues | $ | 948,178 |  |  | $ | 43,798 |  |  | $ | 1,207 |  |  | $ | (4,986) |  |  | $ | 988,197 |
Identifiable long-lived assets (1) | $ | 122,712 |  |  | $ | 4,476 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 127,191 |
(1) Identifiable long-lived assets exclude ROU assets, goodwill and intangible assets. In recent years, the Company completed a series of acquisitions that changed its technological capabilities, applications and end markets. As these acquisitions and changes occurred, the Company's proportion of revenue derived from the sale of components in different technological areas, and modules, sub-assemblies and integrated subsystems which combine technologies into more complex diverse products has shifted. The following tables present revenue consistent with the Company's strategy of expanding its technological capabilities and program content. As additional information related to the Company’s products by end user, application, product grouping and/or platform is attained, the categorization of these products can vary over time. When this occurs, the Company reclassifies revenue by end user, application, product grouping and/or platform for prior periods. Such reclassifications typically do not materially change the underlying trends of results within each revenue category. The following table presents the Company's net revenue by end market for the periods presented:
|  | Fiscal Years Ended |  |  |
|  | June 28, 2024 |  | June 30, 2023 |  | July 1, 2022 |  |  |
Domestic (1) |  | $ | 704,132 |  |  | $ | 865,216 |  |  | $ | 861,125 |  |  |  |
International/Foreign Military Sales (2) |  | 131,143 |  |  | 108,666 |  |  | 127,072 |  |  |  |
Total Net Revenue |  | $ | 835,275 |  |  | $ | 973,882 |  |  | $ | 988,197 |  |  |  |
(1) Domestic revenues consist of sales where the end user is within the U.S., as well as sales to prime defense contractor customers where the ultimate end user location is not defined. (2) International/Foreign Military Sales consist of sales to U.S. prime defense contractor customers where the end user is outside the U.S., foreign military sales through the U.S. government, and direct sales to non-U.S. based customers intended for end use outside of the U.S. The following table presents the Company's net revenue by end application for the periods presented:
|  | Fiscal Years Ended
|  | June 28, 2024 |  | June 30, 2023 |  | July 1, 2022
Radar (1) |  | $ | 110,371 |  |  | $ | 229,467 |  |  | $ | 251,126 |
Electronic Warfare (2) |  | 120,685 |  |  | 144,554 |  |  | 157,676 |
Other Sensor and Effector (3) |  | 129,034 |  |  | 112,659 |  |  | 104,114 |
Total Sensor and Effector |  | 360,090 |  |  | 486,680 |  |  | 512,916 |
C4I (4) |  | 388,533 |  |  | 414,143 |  |  | 399,816 |
Other (5) |  | 86,652 |  |  | 73,059 |  |  | 75,465 |
Total Net Revenues |  | $ | 835,275 |  |  | $ | 973,882 |  |  | $ | 988,197 |
(1) Radar includes end-use applications where radio frequency signals are utilized to detect, track and identify objects. (2) Electronic Warfare includes end-use applications comprising the offensive and defensive use of the electromagnetic spectrum. (3) Other Sensor and Effector products include all Sensor and Effector end markets other than Radar and Electronic Warfare. (4) C4I includes rugged secure rackmount servers that are designed to drive the most powerful military processing applications. (5) Other products include all component and other sales where the end use is not specified. The following table presents the Company's net revenue by product grouping for the periods presented:
|  | Fiscal Years Ended
|  | June 28, 2024 |  | June 30, 2023 |  | July 1, 2022
Components (1) |  | $ | 192,758 |  |  | $ | 197,180 |  |  | $ | 167,333 |
Modules and Sub-assemblies (2) |  | 181,881 |  |  | 200,281 |  |  | 167,242 |
Integrated Solutions (3) |  | 460,636 |  |  | 576,421 |  |  | 653,622 |
Total Net Revenues |  | $ | 835,275 |  |  | $ | 973,882 |  |  | $ | 988,197 |
(1) Components represent the basic building blocks of an electronic system. They generally perform a single function such as switching, storing or converting electronic signals. Some examples include power amplifiers and limiters, switches, oscillators, filters, equalizers, digital and analog converters, chips, MMICs (monolithic microwave integrated circuits) and memory and storage devices. (2) Modules and sub-assemblies combine multiple components to serve a range of complex functions, including processing, networking and graphics display. Typically delivered as computer boards or other packaging, modules and sub-assemblies are usually designed using open standards to provide interoperability when integrated in a subsystem. Examples of modules and sub-assemblies include embedded processing boards, switched fabrics and boards for high-speed input/output, digital receivers, graphics and video, along with multi-chip modules. Additional examples include integrated radio frequency and microwave multi-function assemblies and radio frequency tuners and transceivers. (3) Integrated solutions bring components, modules and/or sub-assemblies into one system, enabled with software. Subsystems are typically, but not always, integrated within an open standards-based chassis and often feature interconnect technologies to enable communication between disparate systems. Spares and replacement modules and sub-assemblies are provided for use with subsystems sold by the Company. The Company’s subsystems are deployed in sensor processing, aviation and mission computing and C4I applications. The following table presents the Company's net revenue by platform for the periods presented:
|  | Fiscal Years Ended
|  | June 28, 2024 |  | June 30, 2023 |  | July 2, 2021
Airborne (1) |  | $ | 445,330 |  |  | $ | 506,264 |  |  | $ | 506,549 |
Land (2) |  | 107,249 |  |  | 157,505 |  |  | 158,782 |
Naval (3) |  | 100,984 |  |  | 136,954 |  |  | 155,588 |
Other (4) |  | 181,712 |  |  | 173,159 |  |  | 167,278 |
Total Net Revenues |  | $ | 835,275 |  |  | $ | 973,882 |  |  | $ | 988,197 |
(1) Airborne platform includes products that relate to personnel, equipment or pieces of equipment designed for airborne applications. (2) Land platform includes products that relate to fixed or mobile equipment, or pieces of equipment for personnel, weapon systems, vehicles and support elements operating on land. (3) Naval platform includes products that relate to personnel, equipment or pieces of equipment designed for naval operations. (4) All platforms other than Airborne, Land or Naval. Customers comprising 10% or more of the Company’s revenues for the periods shown below are as follows:
| Fiscal Years Ended
| June 28, 2024 |  | June 30, 2023 |  | July 1, 2022
L3Harris | 12 | % |  | * |  | *
Lockheed Martin Corporation | 11 | % |  | 13 | % |  | 10 | %
RTX Corporation | 10 | % |  | 14 | % |  | 14 | %
Northrop Grumman | * |  | 11 | % |  | *
U.S. Navy | * |  | * |  | 14 | %
| 33 | % |  | 38 | % |  | 38 | %
* Indicates that the amount is less than 10% of the Company's revenue for the respective period. While the Company typically has customers from which it derives 10% or more of its revenue, the sales to each of these customers are spread across multiple programs and platforms. There were no programs comprising 10% or more of the Company's revenues for the years ended June 28, 2024, June 30, 2023 and July 1, 2022.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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