v3.26.1
Segment Reporting
 3 Months Ended
Apr. 03, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company has the following reportable segments: Performance Materials, Electronic Materials, Precision Optics, and Other. The Company’s reportable segments represent components of the Company for which separate financial information is available that is utilized on a regular basis by the Chief Executive Officer, the Company's chief operating decision maker, in determining how to allocate the Company’s resources and evaluate performance.

Performance Materials provides advanced engineered solutions comprised of beryllium and non-beryllium containing alloy systems and custom engineered parts in strip, bulk, rod, plate, bar, tube, and other customized shapes.

Electronic Materials produces advanced chemicals, microelectric packaging, precious metal, non-precious metal, and specialty metal products, including vapor deposition targets, frame lid assemblies, clad and precious metal preforms and high temperature braze materials.

Precision Optics produces thin film coatings, optical filter materials, sputter-coated, and precision-converted thin film materials.

The Other reportable segment includes unallocated corporate costs and assets.

The primary measurement used by management to measure the financial performance of each segment is earnings before interest, taxes, depreciation and amortization (EBITDA). The below table presents financial information for each segment and a reconciliation of EBITDA to Net Income (the most directly comparable GAAP financial measure) for the first quarter of 2026 and 2025:
First quarter ended April 3, 2026
Performance MaterialsElectronic MaterialsPrecision OpticsOtherConsolidated
Net sales (1)
$155,665 $363,364 $30,795 $— $549,824 
Less:
Cost of sales124,608 323,566 19,816 (1)467,989 
Selling, general and administrative expense 14,065 10,171 5,207 6,757 36,200 
Other segment items (2)
4,207 8,731 3,384 829 17,151 
Plus:
Segment depreciation, depletion and amortization11,016 4,633 2,286 491 18,426 
Segment EBITDA$23,801 $25,529 $4,674 $(7,094)$46,910 
Income tax expense1,533 
Interest expense - net7,578 
Depreciation, depletion and amortization18,426 
Net Income$19,373 



First quarter ended March 28, 2025
Performance MaterialsElectronic MaterialsPrecision OpticsOtherConsolidated
Net sales (1)
$173,987 $224,795 $21,548 $— $420,330 
Less:
Cost of sales125,756 201,057 17,324 14 344,151 
Selling, general and administrative expense 13,981 10,619 4,386 6,459 35,445 
Other segment items (2)
3,007 6,308 3,675 (117)12,873 
Plus:
Segment depreciation, depletion and amortization9,430 4,267 2,355 486 16,538 
Segment EBITDA$40,673 $11,078 $(1,482)$(5,870)$44,399 
Income tax expense3,246 
Interest expense - net6,917 
Depreciation, depletion and amortization16,538 
Net Income$17,698 
(1) Excludes inter-segment sales of $2.7 million for the first quarter of 2026 and $2.6 million for the first quarter of 2025 for Electronic Materials. Inter-segment sales are eliminated in consolidation.

(2) Other segment items for each reportable segment include:
•Research and development expense
•Restructuring expense
•Other operating expense - primarily comprised of metal consignment fees, intangible amortization and foreign currency (gains)/losses as further detailed in Note F
•Non-operating expenses primarily related to pension costs

The following table disaggregates revenue for each segment by end market for the first quarter of 2026 and 2025:
 (Thousands)Performance MaterialsElectronic MaterialsPrecision OpticsOtherTotal
First Quarter 2026
End Market
Semiconductor$2,306 $314,258 $1,798 $— $318,362 
Industrial33,199 10,980 7,678 — 51,857 
Aerospace and defense43,552 5,424 10,030 — 59,006 
Consumer electronics23,254 3,640 4,076 — 30,970 
Automotive17,046 240 1,944 — 19,230 
Energy13,317 33,336 — — 46,653 
Life sciences1,859 (8,596)5,206 — (1,531)
Other21,132 4,082 63 — 25,277 
Total$155,665 $363,364 $30,795 $— $549,824 
First Quarter 2025
End Market
Semiconductor$3,628 $183,749 $775 $— $188,152 
Industrial31,277 9,755 6,273 — 47,305 
Aerospace and defense42,090 1,702 6,241 — 50,033 
Consumer electronics45,035 1,108 3,093 — 49,236 
Automotive16,202 726 1,335 — 18,263 
Energy16,420 20,230 — — 36,650 
Life sciences2,575 5,874 3,692 — 12,141 
Other16,760 1,651 139 — 18,550 
Total$173,987 $224,795 $21,548 $— $420,330