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Operating Segments and Enterprise-Wide Information | 6 Months Ended
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Jul. 01, 2023
Segment Reporting [Abstract] |
Operating Segments and Enterprise-Wide Information | Operating Segments and Enterprise-Wide InformationOur chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. We operate in two reportable segments consisting of the Probe Cards segment and the Systems segment. The following table summarizes the operating results by reportable segment (dollars in thousands):
| Three Months Ended
| July 1, 2023 |  | June 25, 2022
| Probe Cards |  | Systems |  | Corporate and Other |  | Total |  | Probe Cards |  | Systems |  | Corporate and Other |  | Total
Revenues | $ | 115,303 |  |  | $ | 40,613 |  |  | $ | — |  |  | $ | 155,916 |  |  | $ | 167,708 |  |  | $ | 36,199 |  |  | $ | — |  |  | $ | 203,907 |
Gross profit | 42,112 |  |  | 21,124 |  |  | (2,953) |  |  | 60,283 |  |  | 78,420 |  |  | 18,276 |  |  | (2,327) |  |  | 94,369 |
Gross margin | 36.5 | % |  | 52.0 | % |  |  |  | 38.7 | % |  | 46.8 | % |  | 50.5 | % |  |  |  | 46.3 | %
| Six Months Ended
| July 1, 2023 |  | June 25, 2022
| Probe Cards |  | Systems |  | Corporate and Other |  | Total |  | Probe Cards |  | Systems |  | Corporate and Other |  | Total
Revenues | $ | 242,631 |  |  | $ | 80,733 |  |  | $ | — |  |  | $ | 323,364 |  |  | $ | 327,691 |  |  | $ | 73,390 |  |  | $ | — |  |  | $ | 401,081 |
Gross profit | 85,735 |  |  | 41,870 |  |  | (6,244) |  |  | 121,361 |  |  | 155,622 |  |  | 37,683 |  |  | (4,712) |  |  | 188,593 |
Gross margin | 35.3 | % |  | 51.9 | % |  |  |  | 37.5 | % |  | 47.5 | % |  | 51.3 | % |  |  |  | 47.0 | %
Operating results provide useful information to our management for assessment of our performance and results of operations. Certain components of our operating results are utilized to determine executive compensation along with other measures. Corporate and Other includes unallocated expenses relating to amortization of intangible assets, inventory and fixed asset fair value adjustments due to acquisitions, share-based compensation, and restructuring charges which are not used in evaluating the results of, or in allocating resources to, our reportable segments. Certain revenue category information by reportable segment was as follows (in thousands):
| Three Months Ended
| July 1, 2023 |  | June 25, 2022
| Probe Cards |  | Systems |  | Total |  | Probe Cards |  | Systems |  | Total
Market: |  |  |  |  |  |  |  |  |  |  |
Foundry & Logic | $ | 81,967 |  |  | $ | — |  |  | $ | 81,967 |  |  | $ | 122,380 |  |  | $ | — |  |  | $ | 122,380 |
DRAM | 30,464 |  |  | — |  |  | 30,464 |  |  | 36,843 |  |  | — |  |  | 36,843 |
Flash | 2,872 |  |  | — |  |  | 2,872 |  |  | 8,485 |  |  | — |  |  | 8,485 |
Systems | — |  |  | 40,613 |  |  | 40,613 |  |  | — |  |  | 36,199 |  |  | 36,199 |
Total | $ | 115,303 |  |  | $ | 40,613 |  |  | $ | 155,916 |  |  | $ | 167,708 |  |  | $ | 36,199 |  |  | $ | 203,907 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time | $ | 112,985 |  |  | $ | 40,040 |  |  | $ | 153,025 |  |  | $ | 166,701 |  |  | $ | 33,081 |  |  | $ | 199,782 |
Products and services transferred over time | 2,318 |  |  | 573 |  |  | 2,891 |  |  | 1,007 |  |  | 3,118 |  |  | 4,125 |
Total | $ | 115,303 |  |  | $ | 40,613 |  |  | $ | 155,916 |  |  | $ | 167,708 |  |  | $ | 36,199 |  |  | $ | 203,907 |
Geographical region: |  |  |  |  |  |  |  |  |  |  |
United States | $ | 31,131 |  |  | $ | 11,542 |  |  | $ | 42,673 |  |  | $ | 21,539 |  |  | $ | 9,703 |  |  | $ | 31,242 |
Taiwan | 25,316 |  |  | 4,196 |  |  | 29,512 |  |  | 45,188 |  |  | 4,832 |  |  | 50,020 |
South Korea | 26,455 |  |  | 1,408 |  |  | 27,863 |  |  | 27,418 |  |  | 1,337 |  |  | 28,755 |
China | 16,516 |  |  | 6,992 |  |  | 23,508 |  |  | 40,578 |  |  | 9,157 |  |  | 49,735 |
Europe | 2,415 |  |  | 8,401 |  |  | 10,816 |  |  | 3,824 |  |  | 4,267 |  |  | 8,091 |
Japan | 3,902 |  |  | 4,030 |  |  | 7,932 |  |  | 6,716 |  |  | 3,221 |  |  | 9,937 |
Malaysia | 6,177 |  |  | 500 |  |  | 6,677 |  |  | 16,157 |  |  | 87 |  |  | 16,244 |
Singapore | 1,718 |  |  | 1,105 |  |  | 2,823 |  |  | 5,131 |  |  | 1,977 |  |  | 7,108 |
Rest of the world | 1,673 |  |  | 2,439 |  |  | 4,112 |  |  | 1,157 |  |  | 1,618 |  |  | 2,775 |
Total | $ | 115,303 |  |  | $ | 40,613 |  |  | $ | 155,916 |  |  | $ | 167,708 |  |  | $ | 36,199 |  |  | $ | 203,907 |
| Six Months Ended
| July 1, 2023 |  | June 25, 2022
| Probe Cards |  | Systems |  | Total |  | Probe Cards |  | Systems |  | Total
Market: |  |  |  |  |  |  |  |  |  |  |
Foundry & Logic | $ | 183,529 |  |  | $ | — |  |  | $ | 183,529 |  |  | $ | 236,501 |  |  | $ | — |  |  | $ | 236,501 |
DRAM | 50,354 |  |  | — |  |  | 50,354 |  |  | 71,280 |  |  | — |  |  | 71,280 |
Flash | 8,748 |  |  | — |  |  | 8,748 |  |  | 19,910 |  |  | — |  |  | 19,910 |
Systems | — |  |  | 80,733 |  |  | 80,733 |  |  | — |  |  | 73,390 |  |  | 73,390 |
Total | $ | 242,631 |  |  | $ | 80,733 |  |  | $ | 323,364 |  |  | $ | 327,691 |  |  | $ | 73,390 |  |  | $ | 401,081 |
Timing of revenue recognition: |  |  |  |  |  |  |  |  |  |  |
Products transferred at a point in time | $ | 236,903 |  |  | $ | 79,510 |  |  | $ | 316,413 |  |  | $ | 325,537 |  |  | $ | 68,497 |  |  | $ | 394,034 |
Products and services transferred over time | 5,728 |  |  | 1,223 |  |  | 6,951 |  |  | 2,154 |  |  | 4,893 |  |  | 7,047 |
Total | $ | 242,631 |  |  | $ | 80,733 |  |  | $ | 323,364 |  |  | $ | 327,691 |  |  | $ | 73,390 |  |  | $ | 401,081 |
Geographical region: |  |  |  |  |  |  |  |  |  |  |
United States | $ | 55,772 |  |  | $ | 24,632 |  |  | $ | 80,404 |  |  | $ | 41,515 |  |  | $ | 15,374 |  |  | $ | 56,889 |
Taiwan | 64,213 |  |  | 5,628 |  |  | 69,841 |  |  | 87,710 |  |  | 15,379 |  |  | 103,089 |
China | 34,992 |  |  | 15,615 |  |  | 50,607 |  |  | 73,369 |  |  | 14,765 |  |  | 88,134 |
South Korea | 46,027 |  |  | 2,611 |  |  | 48,638 |  |  | 52,299 |  |  | 3,957 |  |  | 56,256 |
Europe | 5,841 |  |  | 14,401 |  |  | 20,242 |  |  | 6,206 |  |  | 10,280 |  |  | 16,486 |
Japan | 11,038 |  |  | 7,871 |  |  | 18,909 |  |  | 11,501 |  |  | 7,818 |  |  | 19,319 |
Malaysia | 16,501 |  |  | 1,446 |  |  | 17,947 |  |  | 37,674 |  |  | 769 |  |  | 38,443 |
Singapore | 4,918 |  |  | 3,245 |  |  | 8,163 |  |  | 15,415 |  |  | 2,589 |  |  | 18,004 |
Rest of the world | 3,329 |  |  | 5,284 |  |  | 8,613 |  |  | 2,002 |  |  | 2,459 |  |  | 4,461 |
Total | $ | 242,631 |  |  | $ | 80,733 |  |  | $ | 323,364 |  |  | $ | 327,691 |  |  | $ | 73,390 |  |  | $ | 401,081 |

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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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