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Note 13 - Segment Reporting | 9 Months Ended
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Sep. 30, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | Note 13 – 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, 2022 and 2021 were as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 98,970 |  |  | $ | 100,127 |  |  | $ | 295,121 |  |  | $ | 286,524 |
Europe |  |  | 21,464 |  |  |  | 22,155 |  |  |  | 69,441 |  |  |  | 68,259 |
Japan |  |  | 1,287 |  |  |  | 3,060 |  |  |  | 8,229 |  |  |  | 9,733 |
Total revenue |  | $ | 121,721 |  |  | $ | 125,342 |  |  | $ | 372,791 |  |  | $ | 364,516 |
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Income (Loss) from Operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 25,293 |  |  | $ | 23,475 |  |  | $ | 73,984 |  |  | $ | 72,258 |
Europe |  |  | (3,581 | ) |  |  | (2,223 | ) |  |  | (7,509 | ) |  |  | 1,469 |
Corporate Unallocated and Japan |  |  | (15,654 | ) |  |  | (14,325 | ) |  |  | (47,326 | ) |  |  | (46,435 | )
Total Income from Operations |  | $ | 6,058 |  |  | $ | 6,927 |  |  | $ | 19,149 |  |  | $ | 27,292 |
Total long-lived assets at September 30, 2022 and December 31, 2021 were as follows:
|  | September 30, |  |  | December 31, |
(in thousands) |  | 2022 |  |  | 2021 |
Total long-lived assets: |  |  |  |  |  |  |  |
United States |  | $ | 206,965 |  |  | $ | 215,701 |
Europe |  |  | 51,636 |  |  |  | 59,388 |
Japan |  |  | 1,255 |  |  |  | 5,257 |
Total Long-lived Assets |  | $ | 259,856 |  |  | $ | 280,346 |
The Company's decision to close the Japan business resulted in operating expenses of $1.2 million and $6.4 million during the three and nine months ended September 30, 2022, respectively. Operating expenses included $0.1 million of employee severance and $1.1 million related to the write-down of fixed assets for the three months ended September 30, 2022. Operating expenses included $2.3 million of employee severance, $2.3 million related to the write-down of fixed assets, $0.9 million of facility-related charges, $0.6 million in goodwill impairment charges and $0.3 million in other closure related charges for the nine months ended September 30, 2022. Revenue by product line for the three and nine months ended September 30, 2022 and 2021 were as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Injection Molding |  | $ | 48,940 |  |  | $ | 57,685 |  |  | $ | 155,693 |  |  | $ | 172,212 |
CNC Machining |  |  | 47,489 |  |  |  | 43,658 |  |  |  | 141,809 |  |  |  | 121,953 |
3D Printing |  |  | 19,823 |  |  |  | 18,589 |  |  |  | 59,458 |  |  |  | 53,994 |
Sheet Metal |  |  | 5,219 |  |  |  | 4,854 |  |  |  | 15,066 |  |  |  | 14,790 |
Other Revenue |  |  | 250 |  |  |  | 556 |  |  |  | 765 |  |  |  | 1,567 |
Total revenue |  | $ | 121,721 |  |  | $ | 125,342 |  |  | $ | 372,791 |  |  | $ | 364,516 |

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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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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