Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Revenue, Gross Profit, Operating Income (Loss), Depreciation and Amortization Expenses, Accounts Receivable and Inventory by Reportable Segments

Revenue, gross profit, operating income (loss), depreciation and amortization expenses, accounts receivable and inventories by reportable segments were as follows (in thousands):

	Year Ended December 31,
	2021		2020		2019
Revenue
Photonics	$	232,459	$	199,613	$	230,457
Vision		262,060		261,650		271,407
Precision Motion		212,274		129,360		124,235
Total	$	706,793	$	590,623	$	626,099

	Year Ended December 31,
	2021			2020			2019
Gross Profit
Photonics	$	107,993		$	89,060		$	105,845
Vision		100,890			100,267			105,228
Precision Motion		99,345			58,279			53,326
Unallocated Corporate and Shared Services		(7,900	)		(3,089	)		(2,314	)
Total	$	300,328		$	244,517		$	262,085

	Year Ended December 31,
	2021			2020			2019
Operating Income (Loss)
Photonics	$	46,792		$	34,001		$	41,990
Vision		17,694			16,354			21,007
Precision Motion		52,676			31,663			22,339
Unallocated Corporate and Shared Services		(53,108	)		(26,130	)		(30,054	)
Total	$	64,054		$	55,888		$	55,282

	Year Ended December 31,
	2021		2020		2019
Depreciation and Amortization Expenses
Photonics	$	11,600	$	11,261	$	12,139
Vision		20,812		21,374		21,161
Precision Motion		10,728		5,443		4,712
Unallocated Corporate and Shared Services		254		215		268
Total	$	43,394	$	38,293	$	38,280

	December 31,
	2021		2020
Accounts Receivable
Photonics	$	31,392	$	27,328
Vision		44,078		33,194
Precision Motion		40,147		14,532
Total accounts receivable	$	115,617	$	75,054
Inventories
Photonics	$	49,146	$	35,878
Vision		34,621		41,137
Precision Motion		41,890		15,722
Total inventories	$	125,657	$	92,737
Total segment assets	$	241,274	$	167,791

	December 31,
	2021		2020
Total Assets
Total segment assets	$	241,274	$	167,791
Cash and cash equivalents		117,393		125,054
Prepaid income taxes and income taxes receivable		1,997		3,203
Prepaid expenses and other current assets		13,161		8,125
Property, plant and equipment, net		87,439		78,676
Operating lease assets		48,338		34,444
Deferred tax assets		12,206		10,491
Other assets		5,586		2,894
Intangible assets, net		220,989		148,521
Goodwill		479,500		285,980
Total	$	1,227,883	$	865,179

Schedule of Geographic Revenue

The Company aggregates geographic revenue based on the customer location where products are shipped. Revenue from these customers is summarized as follows (in thousands, except percentage data):

	Year Ended December 31,
	2021					2020					2019
	Revenue		% of Total			Revenue		% of Total			Revenue		% of Total
United States	$	270,833		38.4	%	$	225,760		38.2	%	$	254,279		40.6	%
Germany		101,865		14.4			83,765		14.2			82,032		13.1
Rest of Europe		138,863		19.6			127,040		21.5			129,643		20.7
China		95,045		13.4			70,557		11.9			59,512		9.5
Rest of Asia-Pacific		89,198		12.6			74,334		12.6			89,588		14.3
Other		10,989		1.6			9,167		1.6			11,045		1.8
Total	$	706,793		100.0	%	$	590,623		100.0	%	$	626,099		100.0	%

Summary of Long-lived Assets

Long-lived assets consist of property, plant and equipment, net, and are aggregated based on the location of the assets. A summary of these long-lived assets is as follows (in thousands):

	December 31,
	2021		2020
United States	$	27,587	$	25,436
Germany		33,344		36,314
U.K.		15,059		9,447
Rest of Europe		4,754		5,312
China		6,521		1,809
Rest of Asia-Pacific		174		358
Total	$	87,439	$	78,676

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:

	Year Ended December 31,
	2021			2020			2019
Medical		52	%		56	%		55	%
Advanced Industrial		48	%		44	%		45	%
Total		100	%		100	%		100	%