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Disaggregation of Sales, Geographic Sales and Product Sales | 9 Months Ended
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Sep. 29, 2023
Segment Reporting [Abstract] |
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 |  |  | Nine Months Ended |
|  | September 29, 2023 |  |  | September 30, 2022 |  |  | September 29, 2023 |  |  | September 30, 2022 |
Non-consignment sales |  | $ | 75,296 |  |  | $ | 71,223 |  |  | $ | 230,527 |  |  | $ | 205,236 |
Consignment sales |  |  | 5,012 |  |  |  | 4,823 |  |  |  | 15,615 |  |  |  | 15,111 |
Total net sales |  | $ | 80,308 |  |  | $ | 76,046 |  |  | $ | 246,142 |  |  | $ | 220,347 |
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): Note 14 — Disaggregation of Sales, Geographic Sales and Product Sales (Continued)
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 29, 2023 |  |  | September 30, 2022 |  |  | September 29, 2023 |  |  | September 30, 2022 |
Domestic |  | $ | 4,164 |  |  | $ | 3,873 |  |  | $ | 13,061 |  |  | $ | 10,375 |
Foreign: |  |  |  |  |  |  |  |  |  |  |  |
China |  |  | 48,287 |  |  |  | 42,246 |  |  |  | 144,716 |  |  |  | 116,635 |
Japan |  |  | 9,175 |  |  |  | 10,546 |  |  |  | 28,526 |  |  |  | 32,481 |
Other(1) |  |  | 18,682 |  |  |  | 19,381 |  |  |  | 59,839 |  |  |  | 60,856 |
Total foreign sales |  |  | 76,144 |  |  |  | 72,173 |  |  |  | 233,081 |  |  |  | 209,972 |
Total net sales |  | $ | 80,308 |  |  | $ | 76,046 |  |  | $ | 246,142 |  |  | $ | 220,347 |
(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 |  |  | Nine Months Ended |
|  | September 29, 2023 |  |  | September 30, 2022 |  |  | September 29, 2023 |  |  | September 30, 2022 |
ICLs |  | $ | 81,069 |  |  | $ | 71,953 |  |  | $ | 244,806 |  |  | $ | 208,550 |
Other product sales: |  |  |  |  |  |  |  |  |  |  |  |
Cataract IOLs |  |  | (221 | ) |  |  | 2,191 |  |  |  | 1,295 |  |  |  | 7,640 |
Other surgical products(1) |  |  | (540 | ) |  |  | 1,902 |  |  |  | 41 |  |  |  | 4,157 |
Total other product sales |  |  | (761 | ) |  |  | 4,093 |  |  |  | 1,336 |  |  |  | 11,797 |
Total net sales |  | $ | 80,308 |  |  | $ | 76,046 |  |  | $ | 246,142 |  |  | $ | 220,347 |
(1) Other surgical products include delivery systems and normal recurring sales adjustments such as sales return allowances. One customer, the Company’s distributor in China, accounted for 60% and 56% of net sales for the three months ended September 29, 2023 and September 30, 2022, respectively, and the same customer accounted for 59% and 53% for the nine months ended September 29, 2023 and September 30, 2022, respectively. As of September 29, 2023 and December 30, 2022, respectively, one customer, the Company’s distributor in China, accounted for 78% and 59% of consolidated trade receivables.

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- References No definition available. + Details
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