Product and Geographic Information

12 Months Ended

Apr. 01, 2017

Segment Reporting [Abstract]

Product and Geographic Information

Product and Geographic Information

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker in deciding how to allocate resources and in assessing performance. Our chief operating decision maker (CODM) is our Chief Executive Officer (CEO).

In the fourth quarter of 2017, primarily as a result of a change in CEO and ensuing restructuring and related efficiency and cost-saving efforts, the Company was reorganized into a functional structure, and internal reporting and decision-making authority was modified accordingly. The Company no longer has separate business units or separate general managers, and the CEO now allocates resources and evaluates performance on a company-wide basis, consistent with the revised functional structure. The change in the CODM combined with the change in organization and decision making-structures represented triggering events for a re-evaluation of our segment disclosures. Operating results, including measures of profit and loss, made available to and regularly reviewed by the CODM are now on a company-wide basis. As a result of these changes, we believe we now operate in a single segment, defined as a manufacturer of high-technology microfabrication and related equipment. This single segment, which also represents the consolidated entity, sells products into a variety of end markets that are grouped into four major categories for the purpose of providing an understanding of the principal end markets for the products manufactured by the Company, specifically: 1) Printed Circuit Board (PCB), 2) Semiconductor, 3) Component Test, and 4) Industrial Machining.

The following table presents net sales information by the four major market categories addressed by our single segment:

(In thousands)	2017		2016
Printed Circuit Board	$	88,771	$	94,121
Component Test	22,381		19,901
Semiconductor	29,557		38,262
Industrial Machining	20,314		32,107
	$	161,023	$	184,391

For 2015, sales into the Component Processing and Micromachining markets were $124.6 million and $34.5 million, respectively. As required, we have restated the segment disclosures on the basis of the revised definition of reportable segments described above. As we now operate as a single segment and our segment accounting is compliant with GAAP, our restated segment disclosures are the same as our consolidated results shown in the Consolidated Statements of Operations and Consolidated Balance Sheets.

Net sales by geographic area, based on the location of the end user, were as follows:

(In thousands)	2017		2016		2015
Asia	$	134,394	$	152,259	$	124,049
Americas	16,378		21,206		18,067
Europe	10,251		10,926		17,002
	$	161,023	$	184,391	$	159,118

Long-lived assets, exclusive of investments and restricted cash, by geographic area were as follows:

(In thousands)	2017		2016
Americas	$	32,234	$	26,359
Asia	8,111		17,318
Europe	5,648		5,579
	$	45,993	$	49,256