Geographic and Product Data

6 Months Ended

Jul. 03, 2015

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Note 9 — Geographic and Product Data

The Company markets and sells its products in over 60 countries and has manufacturing sites in the United States and Switzerland. Other than the Japan, China, United States, Korea, Spain, France and Germany, the Company does not conduct business in any country in which its sales exceed 5% of consolidated sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers is set forth below (in thousands):

	Three Months Ended				Six Months Ended
	July 3,		July 4,		July 3,		July 4,
	2015		2014		2015		2014
Japan	$	3,980	$	4,549	$	8,267	$	9,557
China		3,327		2,535		5,698		4,759
United States		2,723		2,926		5,589		5,801
Korea		1,269		1,952		3,612		4,573
Spain		1,486		1,474		2,964		3,092
France		888		1,190		2,039		2,136
Germany		694		1,015		1,190		1,912
Other		4,290		4,407		8,155		8,396
Total	$	18,657	$	20,048	$	37,514	$	40,226

100% of the Company’s sales are generated from the ophthalmic surgical product segment, and therefore the Company operates as one operating segment for financial reporting purposes. The Company’s principal products are implantable Collamer lenses (“ICLs”) used in refractive surgery and intraocular lenses (“IOLs”) used in cataract surgery. The composition of the Company’s net sales by product line is as follows (in thousands):

 

	Three Months Ended				Six Months Ended
	July 3,		July 4,		July 3,		July 4,
	2015		2014		2015		2014
ICLs	$	12,236	$	12,172	$	24,490	$	24,413
IOLs		5,204		6,428		10,562		13,041
Core products		17,440		18,600		35,052		37,454
Other surgical products		1,217		1,448		2,462		2,772
Total	$	18,657	$	20,048	$	37,514	$	40,226

One customer accounted for 16% and 14% of net sales for the three and six months ended July 3, 2015 and 11% and 12% of net sales for the three and six months ended July 4, 2014, respectively. As of July 3, 2015, one customer accounted for 17% of consolidated trade receivables. As of January 2, 2015, there were two customers with trade receivable balances of 10% and 11% of consolidated trade receivables, respectively.

The Company sells its products internationally, which subjects the Company to several potential risks, including regional/country economic conditions and regulatory requirements, including fluctuating foreign currency exchange rates (to the extent the Company’s transactions are not in U.S. dollars), regulation of fund transfers by foreign governments, United States and foreign export and import duties and tariffs, and political instability.