Segment Information

3 Months Ended

Apr. 01, 2016

Segment Reporting [Abstract]

Segment Information

14. Segment Information

The Company evaluates the performance of, and allocates resources to, its segments based on revenue, gross profit and operating profit. The Company’s reportable segments have been identified based on commonality and adjacency of technologies, applications and customers amongst the Company’s individual product lines.

We operate in three reportable segments: Laser Products, Vision Technologies, and Precision Motion. The reportable segments and their principal activities consist of the following:

Laser Products

The Laser Products segment designs, manufactures and markets photonics-based solutions, including CO2 laser sources, laser scanning and beam delivery products, to customers worldwide. The segment serves highly demanding photonics-based applications such as industrial material processing, metrology, medical and life science imaging, and medical laser procedures. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors.

Vision Technologies

The Vision Technologies segment designs, manufactures and markets a range of medical grade technologies, including visualization solutions, imaging informatics products, optical data collection and machine vision technologies, RFID technologies, thermal printers, and light and color measurement instrumentation, to customers worldwide. The vast majority of the segment’s product offerings are sold to OEM customers. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors.

Precision Motion

The Precision Motion segment designs, manufactures and markets optical encoders, precision motor and motion control technology, air bearing spindles and precision machined components to customers worldwide. The vast majority of the segment’s product offerings are sold into the advanced industrial market and the medical market. The segment sells these products both directly, utilizing a highly technical sales force, and indirectly, through resellers and distributors.

Reportable Segment Financial Information

Revenue, gross profit, gross profit margin, operating income (loss) from continuing operations, and depreciation and amortization by reportable segments are as follows (in thousands):

	Three Months Ended
	April 1, 2016		April 3, 2015
Revenue
Laser Products	$	40,358	$	44,955
Vision Technologies		28,862		31,111
Precision Motion		21,096		18,548
Total	$	90,316	$	94,614

	Three Months Ended
	April 1, 2016			April 3, 2015
Gross Profit
Laser Products	$	17,997		$	19,375
Vision Technologies		9,579			12,513
Precision Motion		9,668			8,465
Unallocated Corporate and Shared Services		(352	)		(347	)
Total	$	36,892		$	40,006

	Three Months Ended
	April 1, 2016			April 3, 2015
Gross Profit Margin
Laser Products		44.6	%		43.1	%
Vision Technologies		33.2	%		40.2	%
Precision Motion		45.8	%		45.6	%
Total		40.8	%		42.3	%

	Three Months Ended
	April 1, 2016			April 3, 2015
Operating Income (Loss) from Continuing Operations
Laser Products	$	6,856		$	8,395
Vision Technologies		(3,771	)		(654	)
Precision Motion		5,235			4,137
Unallocated Corporate and Shared Services		(5,733	)		(6,481	)
Total	$	2,587		$	5,397

	Three Months Ended
	April 1, 2016		April 3, 2015
Depreciation and Amortization
Laser Products	$	1,544	$	1,582
Vision Technologies		3,100		2,258
Precision Motion		614		473
Unallocated Corporate and Shared Services		573		449
Total	$	5,831	$	4,762