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Note 11 - Segment Information | 6 Months Ended
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Jun. 28, 2025
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | Note 11– Segment Information VPG reports in three reporting segments: Sensors, Weighing Solutions, and Measurement Systems. The Sensors segment is comprised of the foil resistor and strain gage operating segments. The Weighing Solutions segment is comprised of specialized modules and systems used to precisely measure weight, force torque, and pressure. The Measurement Systems segment is comprised of highly specialized systems for steel production, materials development, and safety testing. The chief operating decision maker ("CODM") is our chief executive officer. The evaluation of the segments' performance is based on multiple performance measures including revenues and operating income, exclusive of certain items. Management believes that evaluating segment performance, excluding items such as restructuring, severance, impairment of goodwill and indefinite-lived intangible assets and amortization of intangible assets, acquisition costs, and other items is meaningful because they relate to occurrences or events that are outside of our core operations, and management believes that the use of these measures provides a consistent basis to evaluate our operating profitability and performance trends across comparable periods. Note 11– Segment Information (continued) The following table sets forth reporting segment information (in thousands):
|  | Sensors |  |  | Weighing Solutions |  |  | Measurement Systems |  |  | Corporate/ Other |  |  | Total |
Three Fiscal Months Ended June 28, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net third-party revenues |  | $ | 26,563 |  |  | $ | 29,428 |  |  | $ | 19,170 |  |  | $ | — |  |  | $ | 75,161 |
Intersegment revenues |  |  | 472 |  |  |  | 362 |  |  |  | — |  |  |  | (834 | ) |  |  | — |
Total revenues |  |  | 27,035 |  |  |  | 29,790 |  |  |  | 19,170 |  |  |  | (834 | ) |  |  | 75,161 |
Costs of products sold |  |  | 18,548 |  |  |  | 18,144 |  |  |  | 8,709 |  |  |  | (834 | ) |  |  | 44,567 |
Gross profit |  |  | 8,487 |  |  |  | 11,646 |  |  |  | 10,461 |  |  |  | — |  |  |  | 30,594 |
Research and development expenses |  |  | 1,086 |  |  |  | 1,395 |  |  |  | 2,911 |  |  |  | — |  |  |  | 5,392 |
Segment selling, general, and administrative expenses (1) |  |  | 3,650 |  |  |  | 4,893 |  |  |  | 4,635 |  |  |  | — |  |  |  | 13,178 |
Segment operating income |  |  | 3,751 |  |  |  | 5,358 |  |  |  | 2,915 |  |  |  | — |  |  |  | 12,024 |
Other supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring costs |  |  | — |  |  |  | (15 | ) |  |  | 15 |  |  |  | 185 |  |  |  | 185 |
Depreciation and amortization expense |  |  | 1,555 |  |  |  | 730 |  |  |  | 1,077 |  |  |  | 493 |  |  |  | 3,855 |
Capital expenditures |  |  | 764 |  |  |  | 213 |  |  |  | 504 |  |  |  | 50 |  |  |  | 1,531 |
Three Fiscal Months Ended June 29, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net third-party revenues |  | $ | 28,869 |  |  | $ | 27,447 |  |  | $ | 21,043 |  |  | $ | — |  |  | $ | 77,359 |
Intersegment revenues |  |  | 528 |  |  |  | — |  |  |  | — |  |  |  | (528 | ) |  |  | — |
Total revenues |  |  | 29,397 |  |  |  | 27,447 |  |  |  | 21,043 |  |  |  | (528 | ) |  |  | 77,359 |
Costs of products sold |  |  | 18,331 |  |  |  | 17,137 |  |  |  | 10,012 |  |  |  | (528 | ) |  |  | 44,952 |
Gross profit |  |  | 11,066 |  |  |  | 10,310 |  |  |  | 11,031 |  |  |  | — |  |  |  | 32,407 |
Research and development expenses |  |  | 936 |  |  |  | 1,352 |  |  |  | 2,657 |  |  |  | — |  |  |  | 4,945 |
Segment selling, general, and administrative expenses (1) |  |  | 4,006 |  |  |  | 4,820 |  |  |  | 4,818 |  |  |  | — |  |  |  | 13,644 |
Segment operating income |  |  | 6,124 |  |  |  | 4,138 |  |  |  | 3,556 |  |  |  | — |  |  |  | 13,818 |
Other supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Depreciation and amortization expense |  |  | 1,567 |  |  |  | 838 |  |  |  | 1,071 |  |  |  | 440 |  |  |  | 3,916 |
Capital expenditures |  |  | 1,292 |  |  |  | 322 |  |  |  | 325 |  |  |  | 159 |  |  |  | 2,098 |
|  | Sensors |  |  | Weighing Solutions |  |  | Measurement Systems |  |  | Corporate/ Other |  |  | Total |
Six Fiscal Months Ended June 28, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net third-party revenues |  | $ | 53,620 |  |  | $ | 55,866 |  |  | $ | 37,416 |  |  | $ | — |  |  | $ | 146,902 |
Intersegment revenues |  |  | 831 |  |  |  | 362 |  |  |  | — |  |  |  | (1,193 | ) |  |  | — |
Total revenues |  |  | 54,451 |  |  |  | 56,228 |  |  |  | 37,416 |  |  |  | (1,193 | ) |  |  | 146,902 |
Costs of products sold |  |  | 37,817 |  |  |  | 34,865 |  |  |  | 17,773 |  |  |  | (1,193 | ) |  |  | 89,262 |
Gross profit |  |  | 16,634 |  |  |  | 21,363 |  |  |  | 19,643 |  |  |  | — |  |  |  | 57,640 |
Research and development expenses |  |  | 2,042 |  |  |  | 2,636 |  |  |  | 5,579 |  |  |  | — |  |  |  | 10,257 |
Segment selling, general, and administrative expenses (1) |  |  | 7,456 |  |  |  | 9,450 |  |  |  | 9,040 |  |  |  | — |  |  |  | 25,946 |
Segment operating income |  |  | 7,136 |  |  |  | 9,277 |  |  |  | 5,024 |  |  |  | — |  |  |  | 21,437 |
Other supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring costs |  |  | 152 |  |  |  | 53 |  |  |  | 15 |  |  |  | 360 |  |  |  | 580 |
Depreciation and amortization expense |  |  | 3,197 |  |  |  | 1,543 |  |  |  | 2,148 |  |  |  | 1,001 |  |  |  | 7,889 |
Capital expenditures |  |  | 1,442 |  |  |  | 429 |  |  |  | 636 |  |  |  | 78 |  |  |  | 2,585 |
Six Fiscal Months Ended June 29, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net third-party revenues |  | $ | 58,283 |  |  | $ | 56,292 |  |  | $ | 43,567 |  |  | $ | — |  |  | $ | 158,142 |
Intersegment revenues |  |  | 1,011 |  |  |  | — |  |  |  | — |  |  |  | (1,011 | ) |  |  | — |
Total revenues |  |  | 59,294 |  |  |  | 56,292 |  |  |  | 43,567 |  |  |  | (1,011 | ) |  |  | 158,142 |
Costs of products sold |  |  | 37,495 |  |  |  | 34,715 |  |  |  | 19,442 |  |  |  | (1,011 | ) |  |  | 90,641 |
Gross profit |  |  | 21,799 |  |  |  | 21,577 |  |  |  | 24,125 |  |  |  | — |  |  |  | 67,501 |
Research and development expenses |  |  | 1,952 |  |  |  | 2,748 |  |  |  | 5,096 |  |  |  | — |  |  |  | 9,796 |
Segment selling, general, and administrative expenses (1) |  |  | 8,224 |  |  |  | 9,894 |  |  |  | 9,089 |  |  |  | — |  |  |  | 27,207 |
Segment operating income |  |  | 11,623 |  |  |  | 8,935 |  |  |  | 9,940 |  |  |  | — |  |  |  | 30,498 |
Other supplemental information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Restructuring costs |  |  | 542 |  |  |  | — |  |  |  | — |  |  |  | 240 |  |  |  | 782 |
Depreciation and amortization expense |  |  | 3,186 |  |  |  | 1,666 |  |  |  | 2,141 |  |  |  | 866 |  |  |  | 7,859 |
Capital expenditures |  |  | 1,862 |  |  |  | 438 |  |  |  | 415 |  |  |  | 377 |  |  |  | 3,092 |
(1) Segment selling, general and administrative expenses are direct selling, general and administrative expenses, excluding research and development expenses and amortization of intangible assets attributed to the segment. Note 11– Segment Information (continued) The following table reconciles segment profit to consolidated income before taxes (in thousands):
|  | Fiscal Quarter Ended |  |  | Six Fiscal Months Ended |
|  | June 28, 2025 |  |  | June 29, 2024 |  |  | June 28, 2025 |  |  | June 29, 2024 |
Segment operating income |  | $ | 12,024 |  |  | $ | 13,818 |  |  | $ | 21,437 |  |  | $ | 30,498 |
Restructuring costs |  | $ | 185 |  |  | $ | — |  |  | $ | 580 |  |  | $ | 782 |
Unallocated G&A expenses |  | $ | 9,131 |  |  | $ | 7,912 |  |  | $ | 18,209 |  |  | $ | 16,892 |
Operating income |  | $ | 2,708 |  |  | $ | 5,906 |  |  | $ | 2,648 |  |  | $ | 12,824 |
Other (expense) income |  | $ | (1,812 | ) |  | $ | 1,052 |  |  | $ | (3,039 | ) |  | $ | 2,284 |
Income (loss) before taxes |  | $ | 896 |  |  | $ | 6,958 |  |  | $ | (391 | ) |  | $ | 15,108 |
Products are transferred between segments on a basis intended to reflect, as nearly as practicable, the market value of the products. The table below summarizes intersegment sales (in thousands):
|  | Fiscal Quarter Ended |  |  | Six Fiscal Months Ended |
|  | June 28, 2025 |  |  | June 29, 2024 |  |  | June 28, 2025 |  |  | June 29, 2024 |
Sensors to Weighing Solutions |  | $ | 468 |  |  | $ | 522 |  |  | $ | 808 |  |  | $ | 991 |
Sensors to Measurement Systems |  |  | 3 |  |  |  | 6 |  |  |  | 22 |  |  |  | 16 |

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