XML 34 R20.htm IDEA: XBRL DOCUMENT v3.4.0.3
Segment Information
 3 Months Ended
May. 01, 2016
Segment Reporting [Abstract]  
Segment Information
Segment information
Segment Information

The Company has five operating segments in total. The Company’s CEO continues to function as the CODM. The Company’s CODM makes operating decisions and assesses performance based on these operating segments. Four of the operating segments: Protection Products; Power and High Reliability Products; Signal Integrity Products; and Wireless and Sensing Products, all have similar economic characteristics and have been aggregated into one reportable segment identified in the table below as the “Semiconductor Products Group”. The remaining operating segment, the Systems Innovation Group, cannot be aggregated with the other operating segments and does not meet the thresholds for a separate reportable segment as defined by the guidance regarding segment disclosure. Therefore, the Company has classified it as “All others” in the tables below. The Company’s assets are commingled among the various reporting units and the CODM does not use that information in making operating decisions or assessing performance. Therefore, the Company has not included asset information by segment below.

Net sales by segment are as follows:
 
Three Months Ended
(in thousands)
May 1, 2016
 
April 26, 2015
Semiconductor Products Group
$
130,940

 
$
128,247

All others
205

 
1,841

Total
$
131,145

 
$
130,088


Income by segment and reconciliation to consolidated operating income:
 
Three Months Ended
(in thousands)
May 1, 2016
 
April 26, 2015
Semiconductor Products Group
$
27,454

 
$
25,327

All others
(560
)
 
(2,251
)
   Operating Income by segment
26,894

 
23,076

Items to reconcile segment operating income to consolidated income before taxes
 
 
 
Intangible amortization and impairments
6,403

 
6,163

Stock-based compensation expense
5,707

 
5,946

Changes in the fair value of contingent earn-out obligations
(33
)
 
162

Environmental reserve
—

 
2,335

Other non-segment related expenses
1,242

 
3,038

Amortization of fair value adjustments related to acquired PP&E
308

 
548

Interest expense, net
1,930

 
1,834

Non-operating (income) expense, net
45

 
493

Income before taxes
$
11,292

 
$
2,557


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 for all periods.
 
Three Months Ended
(in thousands, except percentages)
May 1, 2016
 
April 26, 2015
Signal Integrity
$
69,882

 
53
%
 
$
54,309

 
41
%
Protection
31,570

 
24
%
 
37,127

 
29
%
Wireless and Sensing
15,607

 
12
%
 
22,798

 
18
%
Power and High-Reliability
13,881

 
11
%
 
14,013

 
11
%
Systems Innovation
205

 
—
%
 
1,841

 
1
%
Total net sales
$
131,145

 
100
%
 
$
130,088

 
100
%

Geographic Information
The Company generates virtually all of its sales from its Semiconductor Products Group through sales of analog and mixed-signal devices.
Net sales activity by geographic region is as follows:
 
Three Months Ended
 
May 1, 2016
 
April 26, 2015
Asia-Pacific
77
%
 
74
%
North America
14
%
 
17
%
Europe
9
%
 
9
%
 
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 one or more of the periods presented:
 
Three Months Ended
(percentage of total sales)
May 1, 2016
 
April 26, 2015
China (including Hong Kong)
48
%
 
43
%
United States
10
%
 
12
%


The Company’s regional (loss) income from continuing operations before income taxes is as follows:
 
 
Three Months Ended
(in thousands)
May 1, 2016
 
April 26, 2015
Domestic
$
(7,545
)
 
$
(13,435
)
Foreign
18,837

 
15,992

Total
$
11,292

 
$
2,557