Operating Segments and Enterprise-Wide Information

3 Months Ended

Apr. 01, 2023

Segment Reporting [Abstract]

Operating Segments and Enterprise-Wide Information

Operating Segments and Enterprise-Wide InformationOur chief operating decision maker (“CODM”) is our Chief Executive Officer, who reviews operating results to make decisions about allocating resources and assessing performance for the entire company. We operate in two reportable segments consisting

of the Probe Cards segment and the Systems segment. The following table summarizes the operating results by reportable segment (dollars in thousands):

	Three Months Ended
	April 1, 2023											March 26, 2022
	Probe Cards			Systems			Corporate and Other		Total			Probe Cards			Systems			Corporate and Other		Total
Revenues	$	127,328		$	40,120		$	—	$	167,448		$	159,983		$	37,191		$	—	$	197,174
Gross profit	43,623			20,746			(3,291)		61,078			77,202			19,407			(2,385)		94,224
Gross margin	34.3		%	51.7		%			36.5		%	48.3		%	52.2		%			47.8		%

Operating results provide useful information to our management for assessment of our performance and results of operations. Certain components of our operating results are utilized to determine executive compensation along with other measures.

Corporate and Other includes unallocated expenses relating to amortization of intangible assets, inventory and fixed asset fair value adjustments due to acquisitions, share-based compensation, and restructuring charges which are not used in evaluating the results of, or in allocating resources to, our reportable segments.

Certain revenue category information by reportable segment was as follows (in thousands):

	Three Months Ended
	April 1, 2023						March 26, 2022
	Probe Cards		Systems		Total		Probe Cards		Systems		Total
Market:
Foundry & Logic	$	101,562	$	—	$	101,562	$	114,121	$	—	$	114,121
DRAM	19,890		—		19,890		34,437		—		34,437
Flash	5,876		—		5,876		11,425		—		11,425
Systems	—		40,120		40,120		—		37,191		37,191
Total	$	127,328	$	40,120	$	167,448	$	159,983	$	37,191	$	197,174
Timing of revenue recognition:
Products transferred at a point in time	$	126,678	$	36,710	$	163,388	$	158,836	$	35,416	$	194,252
Products and services transferred over time	650		3,410		4,060		1,147		1,775		2,922
Total	$	127,328	$	40,120	$	167,448	$	159,983	$	37,191	$	197,174
Geographical region:
Taiwan	$	38,897	$	1,432	$	40,329	$	42,522	$	10,547	$	53,069
United States	24,641		13,090		37,731		19,976		5,671		25,647
China	18,476		8,623		27,099		32,791		5,608		38,399
South Korea	19,572		1,203		20,775		24,881		2,620		27,501
Malaysia	10,324		946		11,270		21,517		682		22,199
Japan	7,136		3,841		10,977		4,785		4,597		9,382
Europe	3,426		6,000		9,426		2,382		6,013		8,395
Singapore	3,200		2,140		5,340		10,284		612		10,896
Rest of the world	1,656		2,845		4,501		845		841		1,686
Total	$	127,328	$	40,120	$	167,448	$	159,983	$	37,191	$	197,174