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Geographic and Other Information
 6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Geographic and Other Information
12. Geographic and Other Information
The following sets forth information relating to the single operating segment (in thousands):
 
                     
                     
                     
                     
 
  
Three Months Ended
 
  
Six Months Ended
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
  
June 30,
2022
 
  
June 30,
2021
 
  
June 30,
2022
 
  
June 30,
2021
 
Revenues
                                    
Standard products business
                                    
Display Solutions
    $ 28,336      $ 46,601      $ 57,521      $ 105,496  
Power Solutions
      62,952        56,667        127,777        110,678  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total standard products business
      91,288        103,268        185,298        216,174  
Transitional Fab 3 foundry services
      10,088        10,608        20,171        20,721  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total revenues
    $ 101,376      $ 113,876      $ 205,469      $ 236,895  
    
 
 
     
 
 
     
 
 
     
 
 
  
 
                     
                     
                     
                     
 
  
Three Months Ended
 
  
Six Months Ended
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
  
June 30,
2022
 
  
June 30,
2021
 
  
June 30,
2022
 
  
June 30,
2021
 
Gross Profit
                                    
Standard products business
    $ 27,668      $ 32,859      $ 65,598      $ 66,518  
Transitional Fab 3 foundry services
      1,277        1,111        2,343        1,834  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total gross profit
    $ 28,945      $ 33,970      $ 67,941      $ 68,352  
    
 
 
     
 
 
     
 
 
     
 
 
  
The following is a summary of net sales—standard products business (which does not include the Transitional Fab 3 Foundry Services) by geographic region, based on the location to which the products are billed (in thousands):
 
                     
                     
                     
                     
 
  
Three Months Ended
 
  
Six Months Ended
 
 
  
 
 
  
 
 
  
 
 
  
 
 
 
  
June 30,
2022
 
  
June 30,
2021
 
  
June 30,
2022
 
  
June 30,
2021
 
Korea
    $ 31,168      $ 30,868      $ 62,198      $ 57,302  
Asia Pacific (other than Korea)
      56,068        69,352        114,328        153,092  
United States
      2,492        1,363        5,356        2,637  
Europe
      1,560        1,206        3,416        2,449  
Others
      —          479        —          694  
    
 
 
     
 
 
     
 
 
     
 
 
  
Total
    $ 91,288      $ 103,268      $ 185,298      $ 216,174  
    
 
 
     
 
 
     
 
 
     
 
 
  
For the three months ended June 30, 2022 and 2021, of the Company’s net sales – standard products business in Asia Pacific (other than Korea), net sales – standard products business in China and Hong Kong represented 56.5% and 60.6%, respectively, and net sales—standard products business in Vietnam represented 26.7% and 32.0%, respectively. For the six months ended June 30, 2022 and 2021, of the Company’s net sales – standard products business in Asia Pacific (other than Korea), net sales – standard products business in China and Hong Kong represented 64.0% and 58.6%, respectively, and net sales—standard products business in Vietnam represented 20.4% and 35.0%, respectively.
Net sales from the Company’s top ten largest customers in the standard products business (which does not include the Transitional Fab 3 Foundry Services) accounted for 73% and 80% for the three months ended June 30, 2022 and 2021, respectively, and 72% and 81% for the six months ended June 30, 2022 and 2021, respectively.
For the three months ended June 30, 2022, the Company had two customers that represented 26.7% and 13.3% of its net sales – standard products business. For the six months ended June 30, 2022, the Company had two customers that represented 26.1% and 13.1% of its net sales – standard products business. For the three months ended June 30, 2021, the Company had two customers that represented 40.0% and 11.7% of its net sales – standard products business. For the six months ended June 30, 2021, the Company had two customers that represented 44.6% and 10.8% of its net sales – standard products business.
As of June 30, 2022, two customers of the Company’s standard products business accounted for 35.1% and 18.9% of its accounts receivable – standard products business (which does not include the Transitional Fab 3 Foundry Services), respectively. As of December 31, 2021, two customers of the Company’s standard products business accounted for 31.5% and 16.1% of its accounts receivable – standard products business (which does not include the Transitional Fab 3 Foundry Services), respectively.