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Note 11 - Segment Reporting
 9 Months Ended
Sep. 30, 2020
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 11 – Segment Reporting

 

The Company’s reportable segments are based on the internal reporting used by the Company’s Chief Executive Officer, who is the chief operating decision maker (CODM), to assess operating performance and make decisions about the allocation of resources. The Corporate Unallocated and Japan category includes non-reportable segments, as well as research and development and general and administrative costs that the Company does not allocate directly to its operating segments.

 

Intercompany transactions primarily relate to intercontinental activity and have been eliminated and are excluded from the reported amounts. The difference between income from operations and pre-tax income relates to foreign currency-related gains and losses and interest income on cash balances and investments, which are not allocated to business segments. 

 

Revenue and income from operations by reportable segment for the three and nine months ended September 30, 2020 and 2019 were as follows:

 

 

   

Three Months Ended September 30,

    

Nine Months Ended September 30,

  

(in thousands)

  

2020

    

2019

    

2020

    

2019

  

Revenue:

                                

United States

   $ 85,608     $ 92,916     $ 262,507     $ 271,877  

Europe

     18,897       20,721       56,413       62,915  

Japan

     2,999       3,818       10,267       12,047  

Total revenue

   $ 107,504     $ 117,455     $ 329,187     $ 346,839  

 

 

 

   

Three Months Ended September 30,

    

Nine Months Ended September 30,

  

(in thousands)

  

2020

    

2019

    

2020

    

2019

  

Income from Operations:

                                

United States

   $ 25,164     $ 28,109     $ 74,602     $ 82,367  

Europe

     3,764       4,045       10,389       12,022  

Corporate Unallocated and Japan

     (11,259 )     (10,881 )     (36,146 )     (34,095 )

Total Income from Operations

   $ 17,669     $ 21,273     $ 48,845     $ 60,294  

 

 

Total long-lived assets at  September 30, 2020 and December 31, 2019 were as follows:

 

 

   

September 30,

    

December 31,

  

(in thousands)

  

2020

    

2019

  

Total long-lived assets:

                
United States   $ 219,425     $ 210,171  
Europe     54,628       45,019  
Japan     7,842       8,522  

Total Assets

   $ 281,895     $ 263,712  

 

 

Revenue by product line for the three and nine months ended September 30, 2020 and 2019 were as follows:

 

   

Three Months Ended September 30,

    

Nine Months Ended September 30,

  

(in thousands)

  

2020

    

2019

    

2020

    

2019

  

Revenue:

                                

Injection Molding

   $ 53,257     $ 55,167     $ 165,927     $ 165,935  

CNC Machining

     33,115       40,219       99,760       116,979  

3D Printing

     16,294       15,898       46,478       45,644  

Sheet Metal

     3,988       5,280       14,306       15,777  

Other Revenue

     850       891       2,716       2,504  

Total revenue

   $ 107,504     $ 117,455     $ 329,187     $ 346,839