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Note 11 - Segment and Geographic Information | 12 Months Ended
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Dec. 27, 2025
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
11. | Segment and Geographic Information
We applied the provisions of ASC 280, which sets forth a management approach to segment reporting and establishes requirements to report selected segment information quarterly and to report annually entity-wide disclosures about products, major customers and the geographies in which the entity holds material assets and reports revenue. An operating segment is defined as a component that engages in business activities whose operating results are reviewed by the CODM, which is our Chief Executive Officer, Luis A. Müller and for which discrete financial information is available. We have determined that our three identified operating segments are: TH, ST and IS. Our three operating segments qualify for aggregation under ASC 280 due to similarities in their customers, their economic characteristics, and the nature of products and services provided. As a result, we report in one segment, Semiconductor Test & Inspection, which derives revenue from the design and manufacture of equipment and components used in the testing of semiconductors. The CODM assesses performance of the Semiconductor Test & Inspection segment and decides how to allocate resources based on income (loss) before taxes. The table below summarizes selected financial information for our single reportable segment.
(in thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
Net sales |  | $ | 452,956 |  |  | $ | 401,779 |  |  | $ | 636,322 |
Cost and expenses: |  |  |  |  |  |  |  |  |  |  |  |
Cost of sales |  |  | 257,941 |  |  |  | 220,436 |  |  |  | 332,609 |
Research and development |  |  | 86,756 |  |  |  | 81,231 |  |  |  | 85,178 |
Selling |  |  | 53,028 |  |  |  | 51,584 |  |  |  | 61,056 |
General & administrative |  |  | 54,349 |  |  |  | 60,328 |  |  |  | 58,196 |
Amortization of purchased intangible assets |  |  | 37,466 |  |  |  | 39,087 |  |  |  | 36,355 |
Stock-based compensation |  |  | 23,042 |  |  |  | 20,740 |  |  |  | 17,237 |
Other segment items (1) |  |  | 2,781 |  |  |  | (6,681 | ) |  |  | (125 | )
Income (loss) before taxes |  | $ | (62,407 | ) |  | $ | (64,946 | ) |  | $ | 45,816 |
(1) Other segment items include restructuring charges as well as miscellaneous non-operating items. During the last three years, the following customers comprised 10% or greater of our consolidated net sales:
|  | 2025 |  |  | 2024 |  |  | 2023 |
STMicroelectronics |  |  | * |  |  |  | * |  |  |  | 12.0 | %
* Less than 10% of consolidated net sales.
Net sales to customers, attributed to countries based on product shipment destination, were as follows:
(in thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |
Philippines |  | $ | 68,936 |  |  | $ | 51,310 |  |  | $ | 92,529 |
Taiwan |  |  | 64,667 |  |  |  | 22,562 |  |  |  | 27,901 |
China |  |  | 60,654 |  |  |  | 59,491 |  |  |  | 92,408 |
Malaysia |  |  | 57,263 |  |  |  | 54,016 |  |  |  | 100,949 |
United States |  |  | 46,957 |  |  |  | 56,663 |  |  |  | 76,995 |
Singapore |  |  | 26,176 |  |  |  | 40,827 |  |  |  | 53,518 |
Rest of the world |  |  | 128,303 |  |  |  | 116,910 |  |  |  | 192,022 |
Total, net |  | $ | 452,956 |  |  | $ | 401,779 |  |  | $ | 636,322 |
The measure of segment assets is reported on the consolidated balance sheets as total consolidated assets. Geographic location of our property, plant and equipment and other long-lived assets was as follows:
(in thousands) |  | 2025 |  |  | 2024 |
Property, plant and equipment: |  |  |  |  |  |  |  |
Philippines |  | $ | 21,021 |  |  | $ | 23,072 |
Germany |  |  | 18,705 |  |  |  | 15,705 |
Malaysia |  |  | 15,826 |  |  |  | 15,264 |
United States |  |  | 13,902 |  |  |  | 13,601 |
Japan |  |  | 5,778 |  |  |  | 6,051 |
Rest of the world |  |  | 1,755 |  |  |  | 1,093 |
Total, net |  | $ | 76,987 |  |  | $ | 74,786 |
Goodwill and other intangible assets: |  |  |  |  |  |  |  |
Germany |  | $ | 132,356 |  |  | $ | 128,513 |
United States |  |  | 109,815 |  |  |  | 92,251 |
Malaysia |  |  | 60,913 |  |  |  | 61,252 |
Singapore |  |  | 51,753 |  |  |  | 56,276 |
Rest of the world |  |  | 7,462 |  |  |  | 7,064 |
Total, net |  | $ | 362,299 |  |  | $ | 345,356 |

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- Definition The entire disclosure for reporting segments including data and tables. 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