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Operating Segments and Geographic Information (Tables)

3 Months Ended

Sep. 28, 2024

Segment Reporting [Abstract]

Schedule of Information on Reportable Segments

The following tables present information on the Company’s reportable segments for the three months ended September 28, 2024 and September 30, 2023 (in millions):

			Three Months Ended September 28, 2024
			Network and Service Enablement
			Network Enablement						Service Enablement						Network and Service Enablement						Optical Security and Performance Products												Other Items (1)						Consolidated GAAP Measures
Product revenue			$	112.6					$	6.1					$	118.7					$	78.8											$	—					$	197.5
Service revenue			29.0						11.7						40.7						—												—						40.7
Net revenue			$	141.6					$	17.8					$	159.4					$	78.8											$	—					$	238.2
Gross profit			$	86.3					$	10.8					$	97.1					$	43.6											$	(4.6)					$	136.1
Gross margin			60.9		%				60.7		%				60.9		%				55.3		%																57.1		%
Operating (loss) income															$	(7.3)					$	31.2											$	(12.4)					$	11.5
Operating margin															(4.6)		%				39.6		%																4.8		%

			Three Months Ended September 30, 2023
			Network and Service Enablement
			Network Enablement						Service Enablement						Network and Service Enablement						Optical Security and Performance Products												Other Items (1)						Consolidated GAAP Measures
Product revenue			$	120.4					$	7.7					$	128.1					$	77.5											$	—					$	205.6
Service revenue			29.6						12.7						42.3						—												—						42.3
Net revenue			$	150.0					$	20.4					$	170.4					$	77.5											$	—					$	247.9
Gross profit			$	94.6					$	13.7					$	108.3					$	40.7											$	(4.6)					$	144.4
Gross margin			63.1		%				67.2		%				63.6		%				52.5		%																58.2		%
Operating income															$	1.5					$	29.3											$	(14.8)					$	16.0
Operating margin															0.9		%				37.8		%																6.5		%

(1)See below table for details of reconciling items impacting gross profit and operating income.

			Three Months Ended
			September 28, 2024						September 30, 2023
Corporate reconciling items impacting gross profit:
Total segment gross profit			$	140.7					$	149.0
Stock-based compensation			(1.2)						(1.2)
Amortization of intangibles			(3.3)						(3.5)
Other (charges) benefits unrelated to core operating performance (1)			(0.1)						0.1
Total reconciling items			(4.6)						(4.6)
GAAP gross profit			$	136.1					$	144.4
Corporate reconciling items impacting operating income:
Total segment operating income			$	23.9					$	30.8
Stock-based compensation			(12.7)						(11.2)
Amortization of intangibles			(4.4)						(5.6)
Change in fair value of contingent liability			3.5						1.4
Acquisition and integration related charges			(0.6)						—
Other benefits (charges) unrelated to core operating performance (1)(2)			0.5						(0.2)
Litigation settlement			1.3						—
Restructuring and related benefits			—						0.8
Total reconciling items			(12.4)						(14.8)
GAAP operating income from continuing operations			$	11.5					$	16.0

(1)Other items include (charges) benefits unrelated to core operating performance primarily consisting of transformational initiatives such as site consolidations, intangible impairment and gain or loss on disposal of long-lived assets.

(2)Included in the three months ended September 28, 2024 is a gain of $0.9 million on the sale of assets previously classified as held for sale.

The following table presents net revenue by the three geographic regions in which the Company operates and net revenue from countries that exceeded 10% of the Company’s total net revenue for the three months ended September 28, 2024 and September 30, 2023 (in millions):

			Three Months Ended
			September 28, 2024																		September 30, 2023
			Product Revenue						Service Revenue						Total						Product Revenue						Service Revenue						Total
Americas:
United States			$	58.4					$	14.6					$	73.0					$	67.6					$	15.2					$	82.8
Other Americas			11.7						4.0						15.7						13.7						4.0						17.7
Total Americas			$	70.1					$	18.6					$	88.7					$	81.3					$	19.2					$	100.5
Asia-Pacific:
Greater China			$	52.6					$	1.2					$	53.8					$	49.4					$	1.7					$	51.1
Other Asia-Pacific			26.2						5.9						32.1						28.3						6.5						34.8
Total Asia-Pacific			$	78.8					$	7.1					$	85.9					$	77.7					$	8.2					$	85.9
EMEA:			$	48.6					$	15.0					$	63.6					$	46.6					$	14.9					$	61.5
Total net revenue			$	197.5					$	40.7					$	238.2					$	205.6					$	42.3					$	247.9

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-25

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

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No definition available.

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