XML 29 R20.htm IDEA: XBRL DOCUMENT v3.20.1
Segment Information
 3 Months Ended
Apr. 26, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
The Company’s CEO functions as the chief operating decision maker ("CODM"). The CODM makes operating decisions and assesses performance based on the Company's major product lines, which represent its operating segments. The Company has three operating segments—Signal Integrity, Wireless and Sensing, and Protection—that have similar economic characteristics and have been aggregated into one reportable segment identified as the "Semiconductor Products Group."
The Company’s assets are commingled among the three operating segments and the CODM does not use asset information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by segment in the segment disclosures below.
Net sales by segment were as follows:
 
Three Months Ended
(in thousands)
April 26, 2020
 
April 28, 2019
Semiconductor Products Group
$
132,702

 
$
131,354

Total
$
132,702

 
$
131,354


The following table presents a reconciliation of operating income by segment to consolidated income before taxes. Historical amounts have been adjusted to conform to the current presentation:
 
Three Months Ended
(in thousands)
April 26, 2020
 
April 28, 2019
Semiconductor Products Group
$
28,098

 
$
28,628

   Operating income by segment
28,098

 
28,628

Items to reconcile segment operating income to consolidated income before taxes:
 
 
 
Share-based compensation
9,379

 
11,978

Intangible amortization
2,840

 
5,143

Investment impairments and credit loss reserves
3,630

 
—

Changes in the fair value of contingent earn-out obligations
(33
)
 
(2,161
)
Restructuring and other reserves
—

 
140

Litigation cost, net of recoveries
146

 
(74
)
Transaction and integration related
(2
)
 
1,435

Interest expense
1,559

 
2,467

Non-operating income, net
(423
)
 
(1,043
)
Income before taxes and equity in net losses of equity method investments
$
11,002

 
$
10,743


Information by Product Line
The Company operates exclusively in the semiconductor industry and primarily within the analog and mixed-signal sector.
The table below provides net sales activity by product line on a comparative basis:
 
Three Months Ended
(in thousands, except percentages)
April 26, 2020
 
April 28, 2019
Signal Integrity
$
59,929

 
45
%
 
$
50,257

 
38
%
Wireless and Sensing
32,958

 
25
%
 
42,207

 
32
%
Protection
39,815

 
30
%
 
38,890

 
30
%
Total net sales
$
132,702

 
100
%
 
$
131,354

 
100
%

Information by Sales Channel
 
Three Months Ended
(in thousands)
April 26, 2020
 
April 28, 2019
Distributor
$
103,948

 
$
81,147

Direct
28,754

 
50,207

Total net sales
$
132,702

 
$
131,354


Geographic Information
Net sales activity by geographic region was as follows:
 
Three Months Ended
 
April 26, 2020
 
April 28, 2019
Asia-Pacific
80
%
 
78
%
North America
12
%
 
12
%
Europe
8
%
 
10
%
 
100
%
 
100
%

The Company attributes sales to a country based on the ship-to address. The table below summarizes sales activity to countries that represented greater than 10% of total net sales for at least one of the periods presented:
 
Three Months Ended
(percentage of total sales)
April 26, 2020
 
April 28, 2019
China (including Hong Kong)
57
%
 
53
%
United States
9
%
 
10
%

Although a large percentage of our products is shipped into the Asia-Pacific region, a significant number of the products produced by these customers and incorporating our semiconductor products are then sold outside this region.