Business Segments Information

6 Months Ended

Mar. 31, 2020

10. Business Segment Information

After announcing the planned divestiture of our Solar segment (see Note 4), we conducted an evaluation of our organizational structure. Beginning with the second quarter of fiscal 2019, we made changes to our reportable segments. With the divesture of our Automation segment in the first quarter of fiscal 2020, we further evaluated our organizational structure and concluded that we have two reportable business segments following the divestiture. Prior period amounts have been revised to conform to the current period segment reporting structure. Our two reportable segments are as follows:

Semiconductor – We design, manufacture, sell and service thermal processing equipment and related controls for use by leading semiconductor manufacturers, and in electronics, automotive and other industries.

SiC/LED – We produce consumables and machinery for lapping (fine abrading) and polishing of materials, such as silicon and silicon carbide substrates, sapphire substrates, optical components, numerous types of crystalline materials, ceramics and metal components. We formerly referred to our SiC/LED segment as “Polishing.”

Information concerning our business segments is as follows, in thousands:

	Three Months Ended March 31,						Six Months Ended March 31,
	2020			2019			2020			2019
Net Revenues:
Semiconductor	$	11,992		$	16,053		$	29,224		$	35,013
SiC/LED		2,468			3,273			5,285			6,256
Non-segment related		—			1,307			643			2,589
	$	14,460		$	20,633		$	35,152		$	43,858
Operating income (loss):
Semiconductor	$	(18	)	$	1,732		$	2,704		$	4,477
SiC/LED		421			877			955			1,646
Non-segment related		(1,375	)		(1,361	)		(2,994	)		(4,211	)
	$	(972	)	$	1,248		$	665		$	1,912

	March 31, 2020		September 30, 2019
Identifiable Assets:
Semiconductor	$	55,337	$	56,855
SiC/LED		8,253		7,779
Non-segment related*		36,008		39,088
Held-for-sale assets**		—		22,755
	$	99,598	$	126,477

*	Non-segment related assets include cash, property and other assets.

**	See Note 4 for additional information on held-for-sale assets.

Goodwill and other long-lived assets

We review our long-lived assets, including goodwill, for impairment at least annually in our fourth quarter or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Additional information on impairment testing of long-lived assets, intangible assets and goodwill can be found in Notes 1 and 10 of our Annual Report on Form 10-K for the year ended September 30, 2019.