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Segment Information (Tables)
6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Revenue, Gross Profit, Gross Profit Margin, Operating Income (Loss), and Depreciation and Amortization Expenses by Reportable Segment

Revenue, gross profit, gross profit margin, operating income (loss), and depreciation and amortization expenses by reportable segment were as follows (in thousands, except percentage data):

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

July 1,

 

 

June 30,

 

 

July 1,

 

Revenue

2023

 

 

2022

 

 

2023

 

 

2022

 

Precision Medicine and Manufacturing

$

74,333

 

 

$

69,461

 

 

$

143,861

 

 

$

132,243

 

Medical Solutions

 

83,322

 

 

 

65,516

 

 

 

160,962

 

 

 

127,566

 

Robotics and Automation

 

71,809

 

 

 

80,379

 

 

 

143,767

 

 

 

159,763

 

Total

$

229,464

 

 

$

215,356

 

 

$

448,590

 

 

$

419,572

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

July 1,

 

 

June 30,

 

 

July 1,

 

Gross Profit

2023

 

 

2022

 

 

2023

 

 

2022

 

Precision Medicine and Manufacturing

$

36,513

 

 

$

31,182

 

 

$

70,846

 

 

$

59,569

 

Medical Solutions

 

34,257

 

 

 

26,535

 

 

 

66,143

 

 

 

51,765

 

Robotics and Automation

 

34,909

 

 

 

38,864

 

 

 

67,724

 

 

 

77,014

 

Unallocated Corporate and Shared Services

 

(1,556

)

 

 

(1,336

)

 

 

(2,962

)

 

 

(2,827

)

Total

$

104,123

 

 

$

95,245

 

 

$

201,751

 

 

$

185,521

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

July 1,

 

 

June 30,

 

 

July 1,

 

Gross Profit Margin

2023

 

 

2022

 

 

2023

 

 

2022

 

Precision Medicine and Manufacturing

 

49.1

%

 

 

44.9

%

 

 

49.2

%

 

 

45.0

%

Medical Solutions

 

41.1

%

 

 

40.5

%

 

 

41.1

%

 

 

40.6

%

Robotics and Automation

 

48.6

%

 

 

48.4

%

 

 

47.1

%

 

 

48.2

%

Total

 

45.4

%

 

 

44.2

%

 

 

45.0

%

 

 

44.2

%

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

July 1,

 

 

June 30,

 

 

July 1,

 

Operating Income (Loss)

2023

 

 

2022

 

 

2023

 

 

2022

 

Precision Medicine and Manufacturing

$

19,611

 

 

$

13,996

 

 

$

36,295

 

 

$

27,431

 

Medical Solutions

 

10,083

 

 

 

7,024

 

 

 

19,924

 

 

 

12,066

 

Robotics and Automation

 

15,248

 

 

 

14,083

 

 

 

27,248

 

 

 

32,421

 

Unallocated Corporate and Shared Services

 

(12,744

)

 

 

(11,812

)

 

 

(24,957

)

 

 

(24,344

)

Total

$

32,198

 

 

$

23,291

 

 

$

58,510

 

 

$

47,574

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

July 1,

 

 

June 30,

 

 

July 1,

 

Depreciation and Amortization Expenses

2023

 

 

2022

 

 

2023

 

 

2022

 

Precision Medicine and Manufacturing

$

2,661

 

 

$

2,697

 

 

$

5,257

 

 

$

5,474

 

Medical Solutions

 

4,044

 

 

 

4,322

 

 

 

8,017

 

 

 

8,749

 

Robotics and Automation

 

4,917

 

 

 

6,678

 

 

 

9,762

 

 

 

13,415

 

Unallocated Corporate and Shared Services

 

315

 

 

 

114

 

 

 

632

 

 

 

217

 

Total

$

11,937

 

 

$

13,811

 

 

$

23,668

 

 

$

27,855

 

Schedule of Geographic Revenue

The Company aggregates geographic revenue based on the customer locations where products are shipped to. Revenue by geography was as follows (in thousands):

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

July 1,

 

 

June 30,

 

 

July 1,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

United States

$

107,594

 

 

$

86,649

 

 

$

211,436

 

 

$

169,355

 

Germany

 

32,097

 

 

 

33,123

 

 

 

66,959

 

 

 

64,901

 

Rest of Europe

 

34,537

 

 

 

37,918

 

 

 

63,902

 

 

 

71,260

 

China

 

20,854

 

 

 

29,871

 

 

 

38,652

 

 

 

56,670

 

Rest of Asia-Pacific

 

27,390

 

 

 

23,090

 

 

 

55,501

 

 

 

47,585

 

Other

 

6,992

 

 

 

4,705

 

 

 

12,140

 

 

 

9,801

 

Total

$

229,464

 

 

$

215,356

 

 

$

448,590

 

 

$

419,572

 

Revenue By End Market

The Company primarily operates in two end markets: the medical market and the advanced industrial market. Revenue by end market was approximately as follows:

 

Three Months Ended

 

 

Six Months Ended

 

 

June 30,

 

 

July 1,

 

 

June 30,

 

 

July 1,

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Medical

 

53

%

 

 

47

%

 

 

53

%

 

 

47

%

Advanced Industrial

 

47

%

 

 

53

%

 

 

47

%

 

 

53

%

Total

 

100

%

 

 

100

%

 

 

100

%

 

 

100

%