Segment Information

6 Months Ended

Jul. 05, 2015

Segment Reporting [Abstract]

Segment Information

Segment Information

As of July 5, 2015, the Company had two reportable segments: the Modular Vision Systems Division (MVSD) and the Surface Inspection Systems Division (SISD). MVSD develops, manufactures, and markets modular vision systems that are used to control the manufacture of discrete items by locating, identifying, inspecting, and measuring them during the manufacturing process. SISD develops, manufactures, and markets surface inspection vision systems that are used to inspect surfaces of materials processed in a continuous fashion, such as metals, paper, nonwoven, plastics, and glass, to ensure there are no flaws or defects on the surfaces. On July 6, 2015 (the first day of the Company's third quarter), the Company completed the sale of SISD to AMETEK, Inc. Additional detail related to this disposition is contained in Note 16 to the Consolidated Financial Statements.

Segments are determined based upon the way that management organizes its business for making operating decisions and assessing performance. Given the disposition of the SISD segment noted above, management is in the process of reviewing its organizational structure and will update this segment disclosure during the third quarter of 2015.

The following table summarizes information about the remaining segments (in thousands):

Three-months Ended July 5, 2015	MVSD		Reconciling Items			Consolidated
Revenue	$	143,829	$	—		$	143,829
Operating income	62,179		(10,401		)	51,778

Six-months Ended July 5, 2015	MVSD		Reconciling Items			Consolidated
Revenue	$	245,202	$	—		$	245,202
Operating income	95,155		(21,267		)	73,888

Three-months Ended June 29, 2014	MVSD		Reconciling Items			Consolidated
Revenue	$	92,276	$	—		$	92,276
Operating income	33,818		(7,794		)	26,024

Six-months Ended June 29, 2014	MVSD		Reconciling Items			Consolidated
Revenue	$	173,592	$	—		$	173,592
Operating income	61,783		(14,357		)	47,426

Reconciling items consist of stock-based compensation expense and unallocated corporate expenses, which primarily include corporate headquarters costs, professional fees, and patent infringement litigation. Additional asset information by segment is not produced internally for use by the chief operating decision maker, and therefore, is not presented. Additional asset information is not provided because cash and investments are commingled and the segments share assets and resources in a number of locations around the world.