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v3.26.1

SEGMENT INFORMATION (Tables) | 6 Months Ended
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Apr. 04, 2026
Segment Reporting [Abstract] |
Operating information by segment | The following table reflects operating information by segment for the three and six months ended April 4, 2026 and March 29, 2025:
(in thousands) | Three months ended April 4, 2026 |
| Reportable segments |  | Reconciling items |  |  |
| Ball Bonding Equipment |  | Wedge Bonding Equipment |  | Advanced Solutions |  | APS |  | All Others |  | Unallocated Corporate Expenses |  | Total Company |
Net Revenue | $ | 160,206 |  |  | $ | 13,070 |  |  | $ | 24,483 |  |  | $ | 34,694 |  |  | $ | 10,168 |  |  | $ | — |  |  | $ | 242,621 |  |
Cost of sales | 82,835 |  |  | 7,329 |  |  | 10,346 |  |  | 17,111 |  |  | 5,273 |  |  | 23 |  |  | 122,917 |  |
Selling, general and administrative | 8,046 |  |  | 2,198 |  |  | 4,427 |  |  | 3,161 |  |  | 3,697 |  |  | 21,213 |  |  | 42,742 |  |
Research and development | 10,155 |  |  | 6,145 |  |  | 15,343 |  |  | 2,924 |  |  | 2,413 |  |  | 1,416 |  |  | 38,396 |  |
Total operating expenses | 18,201 |  |  | 8,343 |  |  | 19,770 |  |  | 6,085 |  |  | 6,110 |  |  | 22,629 |  |  | 81,138 |  |
Income / (Loss) from operations | $ | 59,170 |  |  | $ | (2,602) |  |  | $ | (5,633) |  |  | $ | 11,498 |  |  | $ | (1,215) |  |  | $ | (22,652) |  |  | $ | 38,566 |  |
(in thousands) | Three months ended March 29, 2025 |
| Reportable segments |  | Reconciling items |  |  |
| Ball Bonding Equipment |  | Wedge Bonding Equipment |  | Advanced Solutions |  | APS(1) |  | All Others(1) |  | Unallocated Corporate Expenses |  | Total Company |
Net Revenue | $ | 66,281 |  |  | $ | 36,197 |  |  | $ | 17,638 |  |  | $ | 31,615 |  |  | $ | 10,255 |  |  | $ | — |  |  | $ | 161,986 |  |
Cost of sales | 32,630 |  |  | 20,045 |  |  | 7,365 |  |  | 15,402 |  |  | 46,158 |  |  | 2 |  |  | 121,602 |  |
Selling, general and administrative | 4,994 |  |  | 1,903 |  |  | 4,267 |  |  | 2,821 |  |  | 45,636 |  |  | 28,210 |  |  | 87,831 |  |
Research and development | 9,362 |  |  | 5,336 |  |  | 12,135 |  |  | 2,609 |  |  | 5,787 |  |  | 1,991 |  |  | 37,220 |  |
Total operating expenses | 14,356 |  |  | 7,239 |  |  | 16,402 |  |  | 5,430 |  |  | 51,423 |  |  | 30,201 |  |  | 125,051 |  |
Income / (Loss) from operations | $ | 19,295 |  |  | $ | 8,913 |  |  | $ | (6,129) |  |  | $ | 10,783 |  |  | $ | (87,326) |  |  | $ | (30,203) |  |  | $ | (84,667) |  |
(in thousands) | Six Months Ended April 4, 2026 |
| Reportable segments |  | Reconciling items |  |  |
| Ball Bonding Equipment |  | Wedge Bonding Equipment |  | Advanced Solutions |  | APS |  | All Others |  | Unallocated Corporate Expenses |  | Total Company |
Net Revenue | $ | 270,489 |  |  | $ | 34,191 |  |  | $ | 41,704 |  |  | $ | 74,318 |  |  | $ | 21,544 |  |  | $ | — |  |  | $ | 442,246 |  |
Cost of sales | 137,745 |  |  | 20,175 |  |  | 19,972 |  |  | 36,089 |  |  | 9,577 |  |  | 29 |  |  | 223,587 |  |
Selling, general and administrative | 14,687 |  |  | 4,594 |  |  | 8,962 |  |  | 6,459 |  |  | 7,470 |  |  | 41,329 |  |  | 83,501 |  |
Research and development | 20,411 |  |  | 12,396 |  |  | 29,372 |  |  | 5,776 |  |  | 5,429 |  |  | 5,388 |  |  | 78,772 |  |
Total operating expenses | 35,098 |  |  | 16,990 |  |  | 38,334 |  |  | 12,235 |  |  | 12,899 |  |  | 46,717 |  |  | 162,273 |  |
Income / (Loss) from operations | $ | 97,646 |  |  | $ | (2,974) |  |  | $ | (16,602) |  |  | $ | 25,994 |  |  | $ | (932) |  |  | $ | (46,746) |  |  | $ | 56,386 |  |
(in thousands) | Six Months Ended March 29, 2025 |
| Reportable segments |  | Reconciling items |  |  |
| Ball Bonding Equipment |  | Wedge Bonding Equipment |  | Advanced Solutions(2) |  | APS(1) |  | All Others(1) |  | Unallocated Corporate Expenses |  | Total Company |
Net Revenue | $ | 125,967 |  |  | $ | 68,420 |  |  | $ | 45,816 |  |  | $ | 63,732 |  |  | $ | 24,175 |  |  | $ | — |  |  | $ | 328,110 |  |
Cost of sales | 63,628 |  |  | 37,951 |  |  | 13,669 |  |  | 30,352 |  |  | 55,031 |  |  | 11 |  |  | 200,642 |  |
Selling, general and administrative | 10,607 |  |  | 4,025 |  |  | (65,042) |  |  | 5,820 |  |  | 48,537 |  |  | 46,511 |  |  | 50,458 |  |
Research and development | 19,009 |  |  | 10,828 |  |  | 24,744 |  |  | 5,093 |  |  | 11,574 |  |  | 3,780 |  |  | 75,028 |  |
Total operating expenses | 29,616 |  |  | 14,853 |  |  | (40,298) |  |  | 10,913 |  |  | 60,111 |  |  | 50,291 |  |  | 125,486 |  |
Income / (Loss) from operations | $ | 32,723 |  |  | $ | 15,616 |  |  | $ | 72,445 |  |  | $ | 22,467 |  |  | $ | (90,967) |  |  | $ | (50,302) |  |  | $ | 1,982 |  |
(1) In view of the cessation of the EA equipment business, the financial results for the three and six months ended April 4, 2026 now excludes a certain product line from the APS segment and now reports it as part of "All Others". This change in composition of reportable segments has been retrospectively applied to the corresponding results for the three and six months ended March 29, 2025. (2) The credit balance for the Advanced Solutions segment is primarily due to a $71.1 million reimbursement for certain costs and expenses as a result of the cancellation of the Project and a $1.7 million gain from a supplier settlement, partially offset by $7.8 million of selling, general and administrative expenses. The following table reconciles total segment profit to total income / (loss) before income taxes for the three and six months ended April 4, 2026 and March 29, 2025:
| Three months ended |  | Six months ended |  |  |  |
| April 4, 2026 |  | March 29, 2025 |  | April 4, 2026 |  | March 29, 2025 |  |  |  |
Total income from reportable segments | $ | 62,433 |  |  | $ | 32,862 |  |  | $ | 104,064 |  |  | $ | 143,251 |  |  |  |  |
All Others | (1,215) |  |  | (87,326) |  |  | (932) |  |  | (90,967) |  |  |  |  |
Unallocated corporate expenses | (22,652) |  |  | (30,203) |  |  | (46,746) |  |  | (50,302) |  |  |  |  |
Net interest income | 3,943 |  |  | 5,586 |  |  | 8,662 |  |  | 11,911 |  |  |  |  |
Income before income taxes | $ | 42,509 |  |  | $ | (79,081) |  |  | 65,048 |  |  | 13,893 |  |  |  |  |
Schedule of net revenue by Capital Equipment end markets | The following table reflects net revenue by end markets served for the three and six months ended April 4, 2026 and March 29, 2025:
| Three months ended |  | Six months ended |  |  |  |  |  |
(in thousands) | April 4, 2026 |  | March 29, 2025 |  | April 4, 2026 |  | March 29, 2025 |  |  |  |  |  |
General Semiconductor | $ | 148,867 |  |  | $ | 90,684 |  |  | $ | 273,549 |  |  | $ | 156,243 |  |  |  |  |  |  |
Automotive & Industrial | 22,217 |  |  | 30,976 |  |  | 35,852 |  |  | 81,430 |  |  |  |  |  |  |
Memory | 31,251 |  |  | 2,806 |  |  | 47,473 |  |  | 13,531 |  |  |  |  |  |  |
APS | 40,286 |  |  | 37,520 |  |  | 85,372 |  |  | 76,906 |  |  |  |  |  |  |
Total revenue | $ | 242,621 |  |  | $ | 161,986 |  |  | $ | 442,246 |  |  | $ | 328,110 |  |  |  |  |  |  |
Capital expenditures, depreciation and amortization expense | The following table reflects capital expenditures, depreciation expense and amortization expense for the three and six months ended April 4, 2026 and March 29, 2025:
| Three months ended |  | Six months ended |  |  |  |  |  |
(in thousands) | April 4, 2026 |  | March 29, 2025 |  | April 4, 2026 |  | March 29, 2025 |  |  |  |  |  |
Capital expenditures: |  |  |  |  |  |  |  |  |  |  |  |  |
Ball Bonding Equipment | $ | 63 |  |  | $ | 50 |  |  | $ | 98 |  |  | $ | 57 |  |  |  |  |  |  |
Wedge Bonding Equipment | 437 |  |  | 45 |  |  | 513 |  |  | 80 |  |  |  |  |  |  |
Advanced Solutions | — |  |  | 14 |  |  | — |  |  | 92 |  |  |  |  |  |  |
APS(1) | 233 |  |  | 258 |  |  | 982 |  |  | 565 |  |  |  |  |  |  |
All Others (1) | 40 |  |  | 390 |  |  | 45 |  |  | 615 |  |  |  |  |  |  |
Corporate Expenses | 2,906 |  |  | 1,959 |  |  | 4,110 |  |  | 3,418 |  |  |  |  |  |  |
| $ | 3,679 |  |  | $ | 2,716 |  |  | $ | 5,748 |  |  | $ | 4,827 |  |  |  |  |  |  |
Depreciation expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Ball Bonding Equipment | $ | 264 |  |  | $ | 332 |  |  | $ | 539 |  |  | $ | 664 |  |  |  |  |  |  |
Wedge Bonding Equipment | 248 |  |  | 228 |  |  | 475 |  |  | 455 |  |  |  |  |  |  |
Advanced Solutions | 257 |  |  | 281 |  |  | 518 |  |  | 516 |  |  |  |  |  |  |
APS (1) | 1,175 |  |  | 1,308 |  |  | 2,374 |  |  | 2,706 |  |  |  |  |  |  |
All Others (1) | 322 |  |  | 347 |  |  | 604 |  |  | 676 |  |  |  |  |  |  |
Corporate Expenses | 1,405 |  |  | 1,344 |  |  | 2,812 |  |  | 2,590 |  |  |  |  |  |  |
| $ | 3,671 |  |  | $ | 3,840 |  |  | $ | 7,322 |  |  | $ | 7,607 |  |  |  |  |  |  |
Amortization expense: |  |  |  |  |  |  |  |  |  |  |  |  |
Ball Bonding Equipment | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  |
Wedge Bonding Equipment | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
Advanced Solutions | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
APS (1) | — |  |  | — |  |  | — |  |  | — |  |  |  |  |  |  |
All Others (1) | 216 |  |  | 1,080 |  |  | 432 |  |  | 2,234 |  |  |  |  |  |  |
Corporate Expenses | 91 |  |  | 91 |  |  | 183 |  |  | 183 |  |  |  |  |  |  |
| $ | 307 |  |  | $ | 1,171 |  |  | $ | 615 |  |  | $ | 2,417 |  |  |  |  |  |  |
(1) In view of the cessation of EA equipment business, the financial results for the three and six months ended April 4, 2026 now exclude a certain product line from the APS segment and now reports it as part of "All Others". This change in composition of reportable segments has been retrospectively applied to the corresponding results for the three and six months ended March 29, 2025.

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