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Segment Information | 9 Months Ended
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Sep. 30, 2012
Segment Information |
Segment Information | Note 5—Segment Information We have four identified reporting units that we aggregate into two reportable segments: the VIBE and Mechanical reporting units which are reported in our Data Storage segment; and the MOCVD and MBE reporting units are reported in our LED and Solar segment. We manage the business, review operating results and assess performance, as well as allocate resources, based upon our reporting units that reflect the market focus of each business. The LED & Solar segment consists of metal organic chemical vapor deposition (“MOCVD”) systems, molecular beam epitaxy (“MBE”) systems, thermal deposition sources and other types of deposition systems. These systems are primarily sold to customers in the LED and solar industries, as well as to scientific research customers. This segment has product development and marketing sites in Somerset, New Jersey, Poughkeepsie, New York, and St. Paul, Minnesota. During 2011 we discontinued our CIGS solar systems business, located in Tewksbury, Massachusetts and Clifton Park, New York. The Data Storage segment consists of the ion beam etch, ion beam deposition, diamond-like carbon, physical vapor deposition, and dicing and slicing products sold primarily to customers in the data storage industry. This segment has product development and marketing sites in Plainview, New York, Ft. Collins, Colorado and Camarillo, California. We evaluate the performance of our reportable segments based on income (loss) from continuing operations before interest, income taxes, amortization and certain items (in the aggregate “segment profit (loss)”), which is the primary indicator used to plan and forecast future periods. The presentation of this financial measure facilitates meaningful comparison with prior periods, as management believes segment profit (loss) reports baseline performance and thus provides useful information. Certain items include restructuring charges, equity-based compensation expense and loss on extinguishment of debt. The accounting policies of the reportable segments are the same as those described in the summary of critical accounting policies. The following tables present certain data pertaining to our reportable product segments and a reconciliation of segment profit (loss) to income (loss) from continuing operations before income taxes for the three and nine months ended September 30, 2012 and 2011, respectively, and goodwill and total assets as of September 30, 2012 and December 31, 2011 (in thousands):
|  | LED & Solar |  | Data Storage |  | Unallocated Corporate |  | Total |
Three months ended September 30, 2012 |  |  |  |  |  |  |  |  |
Net sales |  | $ | 98,905 |  | $ | 33,810 |  | $ | — |  | $ | 132,715 |
Segment profit |  | $ | 9,461 |  | $ | 4,278 |  | $ | 480 |  | $ | 14,219 |
Interest, net |  | — |  | — |  | 176 |  | 176 |
Amortization |  | (1,154 | ) | (323 | ) | — |  | (1,477 | )
Equity-based compensation |  | (1,914 | ) | (763 | ) | (588 | ) | (3,265 | )
Restructuring |  | (660 | ) | (1,296 | ) | (58 | ) | (2,014 | )
Income (loss) from continuing operations before income taxes |  | $ | 5,733 |  | $ | 1,896 |  | $ | 10 |  | $ | 7,639 |
Three months ended September 30, 2011 |  |  |  |  |  |  |  |  |
Net sales |  | $ | 233,864 |  | $ | 34,095 |  | $ | — |  | $ | 267,959 |
Segment profit (loss) |  | $ | 72,819 |  | $ | 7,877 |  | $ | (2,581 | ) | $ | 78,115 |
Interest, net |  | — |  | — |  | 244 |  | 244 |
Amortization |  | (924 | ) | (353 | ) | — |  | (1,277 | )
Equity-based compensation |  | (996 | ) | (339 | ) | (1,620 | ) | (2,955 | )
Income (loss) from continuing operations before income taxes |  | $ | 70,899 |  | $ | 7,185 |  | $ | (3,957 | ) | $ | 74,127 |
|  | LED & |  | Data |  | Unallocated |  |  |
|  | Solar |  | Storage |  | Corporate |  | Total |
Nine months ended September 30, 2012 |  |  |  |  |  |  |  |  |
Net sales |  | $ | 281,257 |  | $ | 127,914 |  | $ | — |  | $ | 409,171 |
Segment profit (loss) |  | $ | 36,534 |  | $ | 25,367 |  | $ | (2,009 | ) | $ | 59,892 |
Interest, net |  | — |  | — |  | 708 |  | 708 |
Amortization |  | (2,878 | ) | (999 | ) | — |  | (3,877 | )
Equity-based compensation |  | (4,016 | ) | (1,614 | ) | (4,779 | ) | (10,409 | )
Restructuring |  | (718 | ) | (1,301 | ) | (58 | ) | (2,077 | )
Income (loss) from continuing operations before income taxes |  | $ | 28,922 |  | $ | 21,453 |  | $ | (6,138 | ) | $ | 44,237 |
Nine months ended September 30, 2011 |  |  |  |  |  |  |  |  |
Net sales |  | $ | 667,697 |  | $ | 119,753 |  | $ | — |  | $ | 787,450 |
Segment profit (loss) |  | $ | 232,848 |  | $ | 33,158 |  | $ | (8,953 | ) | $ | 257,053 |
Interest, net |  | — |  | — |  | (1,142 | ) | (1,142 | )
Amortization |  | (2,364 | ) | (1,072 | ) | (83 | ) | (3,519 | )
Equity-based compensation |  | (2,567 | ) | (999 | ) | (5,906 | ) | (9,472 | )
Loss on extinguishment of debt |  | — |  | — |  | (3,349 | ) | (3,349 | )
Income (loss) from continuing operations before income taxes |  | $ | 227,917 |  | $ | 31,087 |  | $ | (19,433 | ) | $ | 239,571 |
|  | LED & |  | Data |  | Unallocated |  |  |
|  | Solar |  | Storage |  | Corporate |  | Total |
As of September 30, 2012 |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 55,828 |  | $ | — |  | $ | — |  | $ | 55,828 |
Total assets |  | $ | 280,220 |  | $ | 50,397 |  | $ | 623,938 |  | $ | 954,555 |
As of December 31, 2011 |  |  |  |  |  |  |  |  |
Goodwill |  | $ | 55,828 |  | $ | — |  | $ | — |  | $ | 55,828 |
Total assets |  | $ | 319,457 |  | $ | 57,203 |  | $ | 559,403 |  | $ | 936,063 |
As of September 30, 2012 and December 31, 2011 corporate total assets were comprised principally of cash and cash equivalents and short-term investments.

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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/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 + Details
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