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Segment and Geographic Information | 12 Months Ended
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Jun. 02, 2012
Segment and Geographic Information [Abstract] |
SEGMENT AND GEOGRAPHIC INFORMATION | 13. SEGMENT AND GEOGRAPHIC INFORMATION In accordance with ASC 280-10, Segment Reporting, we have identified two reportable segments: EDG and Canvys. EDG provides engineered solutions and distributes electronic components to customers in alternative energy, aviation, broadcast, communications, industrial, marine, medical, military, scientific, and semiconductor markets. EDG focuses on various applications including broadcast transmission, CO 2 laser cutting, diagnostic imaging, dielectric and induction heating, high energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology. EDG also offers its customers technical services for both microwave and industrial equipment. Canvys provides global customized display solutions serving the corporate enterprise, financial, healthcare, industrial, and medical original equipment manufacturer (“OEM”) markets. The CEO evaluates performance and allocates resources primarily based on the gross profit of each segment. Operating results by segment are summarized in the following table (in thousands):
|  | Fiscal Year Ended |
EDG |  | June 2, 2012 |  |  | May 28, 2011 |  |  | May 29, 2010 |
Net Sales |  | $ | 112,586 |  |  | $ | 113,715 |  |  | $ | 86,541 |
Gross Profit |  | $ | 34,626 |  |  | $ | 35,020 |  |  | $ | 28,721 |
Canvys |  |  |  |  |  |  |  |  |  |  |  |
Net Sales |  | $ | 45,250 |  |  | $ | 45,152 |  |  | $ | 48,831 |
Gross Profit |  | $ | 12,155 |  |  | $ | 11,093 |  |  | $ | 12,563 |
A reconciliation of assets to the relevant consolidated amount is as follows (in thousands):
|  | June 2, 2012 |  |  | May 28, 2011 |
Segment assets |  | $ | 54,768 |  |  | $ | 51,464 |
Cash |  |  | 43,893 |  |  |  | 170,975 |
Investments - current |  |  | 105,009 |  |  |  | 52,116 |
Other current assets (1) |  |  | 10,723 |  |  |  | 9,615 |
Net property |  |  | 4,375 |  |  |  | 5,216 |
Investments - non-current |  |  | 10,683 |  |  |  | 16,656 |
Other assets (2) |  |  | 1,458 |  |  |  | 3,994 |
Assets of discontinued operations (3) |  |  | 514 |  |  |  | 4,018 |
Total assets |  | $ | 231,423 |  |  | $ | 314,054 |
(1) | Other current assets include miscellaneous receivables, prepaid expenses, and current deferred income taxes.
(2) | Other assets primarily include non-current deferred income taxes.
(3) | See Footnote 5 - Discontinued Operations.
Geographic net sales information is primarily grouped by customer destination into five areas: North America; Asia/Pacific; Europe; Latin America; and Other. Net sales and gross profit by geographic region are summarized in the following table (in thousands):
|  | Fiscal Year Ended |
|  | June 2, 2012 |  |  | May 28, 2011 |  |  | May 29 2010 |
Net Sales |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 68,990 |  |  | $ | 67,646 |  |  | $ | 64,265 |
Asia/Pacific |  |  | 25,588 |  |  |  | 26,354 |  |  |  | 20,943 |
Europe |  |  | 52,039 |  |  |  | 54,040 |  |  |  | 40,800 |
Latin America |  |  | 9,870 |  |  |  | 10,239 |  |  |  | 9,049 |
Other |  |  | 1,349 |  |  |  | 588 |  |  |  | 315 |
Total |  | $ | 157,836 |  |  | $ | 158,867 |  |  | $ | 135,372 |
Gross Profit |  |  |  |  |  |  |  |  |  |  |  |
North America |  | $ | 21,640 |  |  | $ | 19,873 |  |  | $ | 17,927 |
Asia/Pacific |  |  | 9,061 |  |  |  | 9,441 |  |  |  | 7,550 |
Europe |  |  | 16,082 |  |  |  | 14,356 |  |  |  | 12,552 |
Latin America |  |  | 3,710 |  |  |  | 4,093 |  |  |  | 3,522 |
Other |  |  | (3,712 | ) |  |  | (1,650 | ) |  |  | (267 | )
Total |  | $ | 46,781 |  |  | $ | 46,113 |  |  | $ | 41,284 |
We sell our products to customers in diversified industries and perform periodic credit evaluations of our customers’ financial condition. Terms are generally on open account, payable net 30 days in North America, and vary throughout Asia/Pacific, Europe, and Latin America. Estimates of credit losses are recorded in the financial statements based on monthly reviews of outstanding accounts. Other primarily includes net sales not allocated to a specific geographical region, unabsorbed value-add costs, and other unallocated expenses.

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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599 Reference 15: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599 + Details
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