XML 29 R20.htm IDEA: XBRL DOCUMENT v3.22.1
Disaggregation of Sales, Geographic Sales and Product Sales
3 Months Ended
Apr. 01, 2022
Segment Reporting [Abstract]  
Disaggregation of Sales, Geographic Sales and Product Sales

Note 13 — Disaggregation of Sales, Geographic Sales and Product Sales

In the following tables, sales are disaggregated by category, sales by geographic market and sales by product data.  The following breaks down sales into the following categories (in thousands):

 

 

 

Three Months Ended

 

 

 

April 1, 2022

 

 

April 2, 2021

 

Non-consignment sales

 

$

57,569

 

 

$

45,417

 

Consignment sales

 

 

5,631

 

 

 

5,335

 

Total net sales

 

$

63,200

 

 

$

50,752

 

 

The Company markets and sells its products in over 75 countries and conducts its manufacturing in the United States.  Other than China and Japan, the Company does not conduct business in any country in which its sales exceed 10% of worldwide consolidated net sales. Sales are attributed to countries based on location of customers. The composition of the Company’s net sales to unaffiliated customers was as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

April 1, 2022

 

 

April 2, 2021

 

Domestic

 

$

2,630

 

 

$

2,340

 

Foreign:

 

 

 

 

 

 

 

 

China

 

 

28,239

 

 

 

19,643

 

Japan

 

 

11,633

 

 

 

9,603

 

Other(1)

 

 

20,698

 

 

 

19,166

 

Total foreign sales

 

 

60,570

 

 

 

48,412

 

Total net sales

 

$

63,200

 

 

$

50,752

 

 

(1)

No other location individually exceeds 10% of the total sales.

100% of the Company’s sales are generated from the ophthalmic surgical product segment and the chief operating decision maker makes operating decisions and allocates resources based upon the consolidated operating results, 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 was as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

April 1, 2022

 

 

April 2, 2021

 

ICLs

 

$

58,675

 

 

$

46,501

 

Other product sales:

 

 

 

 

 

 

 

 

Cataract IOLs

 

 

2,902

 

 

 

3,725

 

Other surgical products

 

 

1,623

 

 

 

526

 

Total other product sales

 

 

4,525

 

 

 

4,251

 

Total net sales

 

$

63,200

 

 

$

50,752

 

 

One customer, the Company’s distributor in China, accounted for 45% and 39% of net sales for the three ended April 1, 2022 and April 2, 2021, respectively.  As of April 1, 2022 and December 31, 2021, respectively, one customer, the Company’s distributor in China, accounted for 50% and 47% of consolidated trade receivables.