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SEGMENT INFORMATION
9 Months Ended
Jul. 01, 2023
Segment Reporting [Abstract]  
SEGMENT INFORMATION 15. SEGMENT INFORMATION
Reportable segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker (the “CODM”) in deciding how to allocate resources and assess performance. The Company’s Chief Executive Officer is the CODM. The CODM does not review discrete asset information.
As discussed in Note 1, during the third quarter of fiscal year 2023, the Company reconsidered the guidance under ASC 280, Segment Reporting, and determined that certain prior period conclusions about the Company’s operating and reportable segments were erroneous. As a result, the Company had incorrectly presented certain segment-related disclosures in the notes to our previously issued consolidated financial statements.
The Company has revised the prior period presentation to reflect its four reportable segments as follows: (1) Ball Bonding Equipment, (2) Wedge Bonding Equipment, (3) Advanced Solutions, and (4) Aftermarket Products and Services (“APS”). The four reportable segments are disclosed below:
Ball Bonding Equipment: Reflects the results of the Company from the design, development, manufacture and sale of ball bonding equipment and wafer level bonding equipment.
Wedge Bonding Equipment: Reflects the results of the Company from the design, development, manufacture and sale of wedge bonding equipment.
Advanced Solutions: Reflects the results of the Company from the design, development, manufacture and sale of certain advanced display, die-attach and thermocompression systems and solutions.
APS: Reflects the results of the Company from the design, development, manufacture and sale of a variety of tools, spares and services for our equipment.
Any other operating segments that have not been aggregated within the reportable segments described above which do not meet the quantitative threshold to be disclosed as a separate reportable segment have been grouped within an “All Others” category. This group is reflective of the results of the Company from the design, development, manufacture and sale of certain advanced display, advanced dispense, electronics assembly, die-attach and lithography systems and solutions. Results for the “All Others” category and other corporate expenses are included as a reconciling item between the Company’s reportable segments and its consolidated results of operations.
The following table reflects operating information by segment for the three and nine months ended July 1, 2023 and July 2, 2022: 
 Three months endedNine months ended
(in thousands)July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Net revenue:    
Ball Bonding Equipment$76,865 $217,912 $184,049 $751,496 
Wedge Bonding Equipment42,563 50,800 145,805 142,284 
Advanced Solutions23,858 34,614 58,997 71,651 
APS39,672 50,191 119,822 152,924 
All Others7,959 18,620 31,498 98,952 
              Net revenue190,917 372,137 540,171 1,217,307 
Income/(loss) from operations:    
Ball Bonding Equipment18,534 93,863 49,337 323,884 
Wedge Bonding Equipment15,974 19,443 $53,958 $49,599 
Advanced Solutions(2,570)3,134 $(21,160)$(7,574)
APS11,510 22,282 34,778 64,651 
All Others(23,857)2,671 (35,025)28,372 
Corporate Expenses(24,079)(19,316)(61,925)(56,404)
              (Loss)/Income from operations$(4,488)$122,077 $19,963 $402,528 
We have considered: (1) information that is regularly reviewed by our CODM in evaluating financial performance and how to allocate resources; and (2) other financial data, including information that we include in our earnings releases but which is not included in our financial statements, to disaggregate revenues by end markets served. The principal category we use to disaggregate revenues is by the end markets served.
The following table reflects net revenue by end markets served for the three and nine months ended July 1, 2023 and July 2, 2022: 
 Three months endedNine months ended
(in thousands)July 1, 2023July 2, 2022July 1, 2023July 2, 2022
General Semiconductor$77,745 $223,034 $217,186 $670,251 
Automotive & Industrial
44,973 51,018 149,608 160,366 
LED
17,678 20,203 32,765 128,394 
Memory
10,849 27,691 20,790 105,372 
APS39,672 50,191 119,822 152,924 
Total revenue$190,917 $372,137 $540,171 $1,217,307 
The following table reflects capital expenditures, depreciation expense and amortization expense for the three and nine months ended July 1, 2023 and July 2, 2022:
 Three months endedNine months ended
(in thousands)July 1, 2023July 2, 2022July 1, 2023July 2, 2022
Capital expenditures:  
 Ball Bonding Equipment$316 $179 $805 $855 
 Wedge Bonding Equipment83 358 403 780 
 Advanced Solutions6,439 1,049 29,425 2,423 
      APS1,251 1,151 4,443 2,851 
      All Others30 437 279 700 
      Corporate Expenses2,332 1,779 8,130 3,604 
$10,451 $4,953 $43,485 $11,213 
Depreciation expense:    
 Ball Bonding Equipment$388 $346 $1,173 $1,012 
 Wedge Bonding Equipment304 252 878 732 
 Advanced Solutions2,989 519 4,821 1,494 
      APS1,517 1,681 4,742 4,971 
      All Others416 250 1,017 792 
      Corporate Expenses1,191 1,053 3,372 3,229 
$6,805 $4,101 $16,003 $12,230 
Amortization expense:
 Ball Bonding Equipment$— $— $— $— 
 Wedge Bonding Equipment— — — — 
 Advanced Solutions— — — — 
      APS380 208 1,116 684 
      All Others1,314 809 3,352 2,584 
      Corporate Expenses92 92 275 275 
$1,786 $1,109 $4,743 $3,543