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Disaggregation of Sales, Geographic Sales and Product Sales
6 Months Ended
Jul. 02, 2021
Segment Reporting [Abstract]  
Disaggregation of Sales, Geographic Sales and Product Sales

Note 14 — Disaggregation of Sales, Geographic Sales and Product Sales

In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data.  The following breaks down sales into the following categories (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

July 2, 2021

 

 

July 3, 2020

 

 

July 2, 2021

 

 

July 3, 2020

 

Non-consignment sales

 

$

57,368

 

 

$

23,446

 

 

$

102,785

 

 

$

53,846

 

Consignment sales

 

 

4,999

 

 

 

11,748

 

 

 

10,334

 

 

 

16,535

 

Total net sales

 

$

62,367

 

 

$

35,194

 

 

$

113,119

 

 

$

70,381

 

 

The Company markets and sells its products in over 75 countries and conducts its manufacturing in the United States.  Other than China and Japan, the Company does not conduct business in any country in which its sales exceed 10% of worldwide consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

July 2, 2021

 

 

July 3, 2020

 

 

July 2, 2021

 

 

July 3, 2020

 

Domestic

 

$

2,704

 

 

$

882

 

 

$

5,044

 

 

$

2,621

 

Foreign:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

China

 

 

32,930

 

 

 

18,603

 

 

 

52,573

 

 

 

30,318

 

Japan

 

 

9,283

 

 

 

7,463

 

 

 

18,886

 

 

 

15,765

 

Other(1)

 

 

17,450

 

 

 

8,246

 

 

 

36,616

 

 

 

21,677

 

Total foreign sales

 

 

59,663

 

 

 

34,312

 

 

 

108,075

 

 

 

67,760

 

Total net sales

 

$

62,367

 

 

$

35,194

 

 

$

113,119

 

 

$

70,381

 

 

(1)

No other location individually exceeds 10% of the total sales.

100% of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes operating decisions and allocates resources based upon the consolidated operating results, and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery and intraocular lenses (“IOLs”) used in cataract surgery.  The composition of the Company’s net sales by product line was as follows (in thousands):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

July 2, 2021

 

 

July 3, 2020

 

 

July 2, 2021

 

 

July 3, 2020

 

ICLs

 

$

59,235

 

 

$

30,728

 

 

$

105,736

 

 

$

60,068

 

Other product sales:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IOLs

 

 

3,074

 

 

 

2,561

 

 

 

6,799

 

 

 

6,555

 

Other surgical products

 

 

58

 

 

 

1,905

 

 

 

584

 

 

 

3,758

 

Total other product sales

 

 

3,132

 

 

 

4,466

 

 

 

7,383

 

 

 

10,313

 

Total net sales

 

$

62,367

 

 

$

35,194

 

 

$

113,119

 

 

$

70,381

 

 

One customer, the Company’s distributor in China, accounted for 53% and 46% of net sales for the three and six months ended July 2, 2021 and the same customer, accounted for 53% and 43% for the three and six months ended July 3, 2020, respectively.  As of July 2, 2021 and January 1, 2021, respectively, one customer, the Company’s distributor in China, accounted for 55% and 46% of consolidated trade receivables.