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Segment Information
 3 Months Ended
Apr. 30, 2017
Segment Reporting [Abstract]  
Segment Information
Segment information
Segment Information

The Company’s CEO functions as the CODM. The Company’s CODM makes operating decisions and assesses performance based on these operating segments. The four operating segments: Protection Products Group, Power and High-Reliability Products Group, Signal Integrity Products Group, and Wireless and Sensing Products Group, all have similar economic characteristics and have been aggregated into one reportable segment identified in the table below as the “Semiconductor Products Group”.

On August 5, 2016, the Company completed its divestiture of its Snowbush IP business, and the Company no longer has a Systems Innovation Group or an "All others" category, which previously existed as a separate operating segment.

The Company’s assets are commingled among the various operating segments 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)
April 30, 2017
 
May 1, 2016
Semiconductor Products Group
$
143,802

 
$
130,940

All others
—

 
205

Total
$
143,802

 
$
131,145



Income by segment and reconciliation to consolidated operating income:
 
Three Months Ended
(in thousands)
April 30, 2017
 
May 1, 2016
Semiconductor Products Group
$
39,222

 
$
27,454

All others
—

 
(560
)
   Operating income by segment
39,222

 
26,894

Items to reconcile segment operating income to consolidated income before taxes
 
 
 
Intangible amortization and impairments
6,286

 
6,403

Share-based compensation
13,286

 
5,707

Changes in the fair value of contingent earn-out obligations
—

 
(33
)
Restructuring charges
429

 
—

Other non-segment related expenses
775

 
1,242

Amortization of fair value adjustments related to acquired property, plant and equipment
190

 
308

Interest expense, net
2,046

 
1,930

Non-operating expense, net
632

 
45

Income before taxes
$
15,578

 
$
11,292


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)
April 30, 2017
 
May 1, 2016
Signal Integrity
$
68,058

 
49
 %
 
$
69,882

 
53
%
Protection
42,249

 
29
 %
 
31,570

 
24
%
Wireless and Sensing
28,010

 
19
 %
 
15,607

 
12
%
Power and High-Reliability
10,765

 
7
 %
 
13,881

 
11
%
Systems Innovation
—

 
—
 %
 
205

 
—
%
Other: Warrant Shares
(5,280
)
 
(4
)%
 
—

 
—
%
Total net sales
$
143,802

 
100
 %
 
$
131,145

 
100
%


The cost of the Warrant granted is recognized as an offset to net sales over the respective performance period (see Note 4 for discussion regarding Share-Based Compensation).
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
 
April 30, 2017
 
May 1, 2016
Asia-Pacific
75
 %
 
77
%
North America
22
 %
 
14
%
Europe
7
 %
 
9
%
Other: Warrant Shares
(4
)%
 
—
%
 
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 30, 2017
 
May 1, 2016
China (including Hong Kong)
52
%
 
48
%
United States
9
%
 
10
%