v3.25.1
SEGMENT INFORMATION
 6 Months Ended
Mar. 29, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION 14. SEGMENT INFORMATION
Reportable segments are defined as components of an enterprise that engage in business activities for which discrete financial information is available and regularly reviewed by the chief operating decision maker (the “CODM”) in deciding how to allocate resources and assess performance. The Company’s Chief Executive Officer is the CODM. The CODM does not review discrete asset information.
The Company has four reportable segments consisting of: (1) Ball Bonding Equipment, (2) Wedge Bonding Equipment, (3) Advanced Solutions, and (4) Aftermarket Products and Services (“APS”). The four reportable segments are disclosed below:
Ball Bonding Equipment: Reflects the results of the Company from the design, development, manufacture and sale of ball bonding equipment and wafer level bonding equipment.
Wedge Bonding Equipment: Reflects the results of the Company from the design, development, manufacture and sale of wedge and wedge-related bonding equipment.
Advanced Solutions: Reflects the results of the Company from the design, development, manufacture and sale of certain advanced display, die-attach and thermocompression systems and solutions.
APS: Reflects the results of the Company from the design, development, manufacture and sale of a variety of tools, spares and services for our equipment.
Any other operating segments that have not been aggregated within the reportable segments described above which do not meet the quantitative threshold to be disclosed as a separate reportable segment have been grouped within an “All Others” category. This group is reflective of the results of the Company from the design, development, manufacture and sale of certain advanced display, advanced dispense, electronics assembly and die-attach systems and solutions. Results for the “All Others” category and other corporate expenses are included as a reconciling item between the Company’s reportable segments and its consolidated results of operations.
The following table reflects operating information by segment for the three and six months ended March 29, 2025 and March 30, 2024: 
 Three months endedSix months ended
(in thousands)March 29, 2025March 30, 2024March 29, 2025March 30, 2024
Net revenue:    
Ball Bonding Equipment$66,281 $81,908 $125,967 $168,178 
Wedge Bonding Equipment36,197 22,761 68,420 46,220 
Advanced Solutions17,638 14,124 45,816 25,448 
APS37,520 40,667 76,906 81,908 
All Others4,350 12,614 11,001 21,509 
              Net revenue161,986 172,074 328,110 343,263 
Income/(loss) from operations:
    
Ball Bonding Equipment19,295 25,152 32,723 52,866 
Wedge Bonding Equipment8,913 4,253 $15,616 $8,547 
Advanced Solutions(6,129)(116,981)$72,445 $(130,416)
APS(1,297)12,586 9,958 24,832 
All Others(75,246)(9,554)(78,458)(17,628)
Corporate Expenses(30,203)(20,611)(50,302)(41,663)
           (Loss)/income from operations
$(84,667)$(105,155)$1,982 $(103,462)
We have considered: (1) information that is regularly reviewed by our CODM in evaluating financial performance and how to allocate resources; and (2) other financial data, including information that we include in our earnings releases but which is not included in our financial statements, to disaggregate revenues by end markets served. The principal category we use to disaggregate revenues is by the end markets served.
The following table reflects net revenue by end markets served for the three and six months ended March 29, 2025 and March 30, 2024: 
 Three months endedSix months ended
(in thousands)March 29, 2025March 30, 2024March 29, 2025March 30, 2024
General Semiconductor$90,684 $90,137 $156,243 $161,085 
Automotive & Industrial (1)
30,976 30,943 81,430 60,196 
Memory 2,806 10,327 13,531 40,074 
APS37,520 40,667 76,906 81,908 
Total revenue$161,986 $172,074 $328,110 $343,263 
(1) In view of the intended EA equipment business cessation, the Company has simplified its end market disclosures by consolidating LED revenue within Automotive & Industrial revenue. As a result, the net revenue recorded within the previously-defined LED end market for prior periods has been consolidated within the Automotive & Industrial end market to conform to the current period presentation. These changes have no impact to the consolidated financial statements.
The following table reflects capital expenditures, depreciation expense and amortization expense for the three and six months ended March 29, 2025 and March 30, 2024:
 Three months endedSix months ended
(in thousands)March 29, 2025March 30, 2024March 29, 2025March 30, 2024
Capital expenditures:  
Ball Bonding Equipment$50 $158 $57 $554 
Wedge Bonding Equipment45 121 80 135 
Advanced Solutions14 74 92 318 
APS409 245 793 670 
All Others239 286 387 427 
Corporate Expenses1,959 2,962 3,418 5,275 
$2,716 $3,846 $4,827 $7,379 
Depreciation expense:    
Ball Bonding Equipment$332 $326 $664 $647 
Wedge Bonding Equipment228 252 455 536 
Advanced Solutions281 2,321 516 5,368 
APS1,313 1,302 2,712 2,625 
All Others342 386 670 766 
Corporate Expenses1,344 1,055 2,590 2,338 
$3,840 $5,642 $7,607 $12,280 
Amortization expense:
Ball Bonding Equipment$— $— $— $— 
Wedge Bonding Equipment— — — — 
Advanced Solutions— — — — 
APS245 231 526 457 
All Others835 1,003 1,708 2,032 
Corporate Expenses91 91 183 183 
$1,171 $1,325 $2,417 $2,672