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Note 19 - Segment Information | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] |
(19) | SEGMENT INFORMATION
During the year ended December 31, 2021, we managed our business as two operating segments which were also our reportable segments and reporting units: Thermal and EMS. As previously discussed in Note 1, effective January 1, 2022, we reorganized our segments to better align with our plan to manage and report our business going forward. This change in our operating and reporting structure reflects the evolution of our business, particularly as a result of the broadening of our product portfolio through the acquisitions we completed in the fourth quarter of 2021, which are discussed more fully in Note 3. Accordingly, for 2022, we have three operating segments which are also our reportable segments and reporting units: Electronic Test (which includes our semiconductor test equipment, flying probe and in-circuit testers), Environmental Technologies (which includes our thermal test, process and storage products) and Process Technologies (which includes our induction heating and video imaging products). Prior year information has been reclassified to be comparable to the current period’s presentation. Our management team, including our CEO who is also our Chief Operating Decision Maker as defined under U.S. GAAP, evaluates the performance of our operating segments primarily on division operating income which represents the operating segments’ earnings before income tax expense and excludes other income (expense), corporate expenses and acquired intangible amortization. We operate our business worldwide and sell our products both domestically and internationally. All of our segments sell to semiconductor manufacturers, third-party test and assembly houses and ATE manufacturers and to a variety of markets outside of the semi market, including the automotive, defense/aerospace, industrial, life sciences, security and other markets.
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |
Revenue: |  |  |  |  |  |  |  |
Electronic Test |  | $ | 40,219 |  |  | $ | 32,509 |
Environmental Technologies |  |  | 30,172 |  |  |  | 26,896 |
Process Technologies |  |  | 46,437 |  |  |  | 25,473 |
Total Revenue |  | $ | 116,828 |  |  | $ | 84,878 |
Division operating income: |  |  |  |  |  |  |  |
Electronic Test |  | $ | 9,931 |  |  | $ | 10,926 |
Environmental Technologies |  |  | 3,817 |  |  |  | 4,236 |
Process Technologies |  |  | 8,230 |  |  |  | 3,819 |
Total division operating income |  |  | 21,978 |  |  |  | 18,981 |
Corporate expenses |  |  | (8,563 | ) |  |  | (9,082 | )
Acquired intangible amortization |  |  | (2,694 | ) |  |  | (1,440 | )
Other income (expense) |  |  | (576 | ) |  |  | (57 | )
Earnings before income tax expense |  | $ | 10,145 |  |  | $ | 8,402 |
|  | December 31, |
|  | 2022 |  |  | 2021 |
Identifiable assets: |  |  |  |  |  |  |  |
Electronic Test |  | $ | 31,143 |  |  | $ | 26,251 |
Environmental Technologies |  |  | 18,040 |  |  |  | 15,411 |
Process Technologies |  |  | 56,866 |  |  |  | 52,120 |
Corporate |  |  | 4,017 |  |  |  | 10,123 |
|  | $ | 110,066 |  |  | $ | 103,905 |
Capital expenditures: |  |  |  |  |  |  |  |
Electronic Test |  | $ | 80 |  |  | $ | 423 |
Environmental Technologies |  |  | 368 |  |  |  | 313 |
Process Technologies |  |  | 543 |  |  |  | 206 |
Corporate |  |  | 374 |  |  |  | 52 |
|  | $ | 1,365 |  |  | $ | 994 |
The following table provides information about our geographic areas of operation. Revenue is based on the location to which the goods are shipped.
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |
Revenue: |  |  |  |  |  |  |  |
U.S. |  | $ | 49,096 |  |  | $ | 26,802 |
Foreign |  |  | 67,732 |  |  |  | 58,076 |
|  | $ | 116,828 |  |  | $ | 84,878 |
|  | December 31, |
|  | 2022 |  |  | 2021 |
Property and equipment: |  |  |  |  |  |  |  |
U.S. |  | $ | 2,658 |  |  | $ | 2,346 |
Foreign |  |  | 474 |  |  |  | 342 |
|  | $ | 3,132 |  |  | $ | 2,688 |

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