v3.26.1
SEGMENT INFORMATION
 6 Months Ended
Apr. 04, 2026
Segment Reporting [Abstract]  
SEGMENT INFORMATION 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 Interim Chief Executive Officer is the CODM. Our CODM evaluates performance and allocates resources primarily based on income from operations. This measure is regularly provided to and reviewed by our CODM to support budgeting, forecasting, and decisions regarding resource allocation for strategic initiatives across segments, capital investments, and workforce planning. While income from operations is the primary measure used by our CODM to allocate resources, our CODM regularly reviews materials that present revenue, cost of sales and significant operating expenses. Accordingly, we have disclosed these segment items in the tables below. The CODM does not review discrete asset information.
Future changes to this internal financial structure may result in changes to our reportable segments. 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 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 advanced dispense, electronics assembly systems and solutions and related aftermarket spares and services. 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 unallocated corporate expenses category includes certain operating expenses that are not allocated to our reportable segments and are managed separately at the corporate level. These operating expenses include costs related to certain management, finance, legal, human resources, and research and development functions provided at the corporate level. In addition, we do not allocate to our reportable segments severance costs related to restructuring actions. Segment operating income also excludes interest income/expenses, other financial charges and income taxes. Our CODM does not consider the unallocated costs in measuring the performance of the reportable segments.
The following table reflects operating information by segment for the three and six months ended April 4, 2026 and March 29, 2025: 
(in thousands)Three months ended April 4, 2026
Reportable segmentsReconciling items
Ball Bonding EquipmentWedge Bonding EquipmentAdvanced SolutionsAPSAll OthersUnallocated Corporate ExpensesTotal Company
Net Revenue$160,206 $13,070 $24,483 $34,694 $10,168 $— $242,621 
Cost of sales 82,835 7,329 10,346 17,111 5,273 23 122,917 
Selling, general and administrative8,046 2,198 4,427 3,161 3,697 21,213 42,742 
Research and development10,155 6,145 15,343 2,924 2,413 1,416 38,396 
Total operating expenses18,201 8,343 19,770 6,085 6,110 22,629 81,138 
Income / (Loss) from operations$59,170 $(2,602)$(5,633)$11,498 $(1,215)$(22,652)$38,566 
(in thousands)Three months ended March 29, 2025
Reportable segmentsReconciling items
Ball Bonding EquipmentWedge Bonding EquipmentAdvanced Solutions
APS(1)
All Others(1)
Unallocated Corporate ExpensesTotal Company
Net Revenue$66,281 $36,197 $17,638 $31,615 $10,255 $— $161,986 
Cost of sales32,630 20,045 7,365 15,402 46,158 2 121,602 
Selling, general and administrative4,994 1,903 4,267 2,821 45,636 28,210 87,831 
Research and development9,362 5,336 12,135 2,609 5,787 1,991 37,220 
Total operating expenses14,356 7,239 16,402 5,430 51,423 30,201 125,051 
Income / (Loss) from operations$19,295 $8,913 $(6,129)$10,783 $(87,326)$(30,203)$(84,667)
(in thousands)Six Months Ended April 4, 2026
Reportable segmentsReconciling items
Ball Bonding EquipmentWedge Bonding EquipmentAdvanced SolutionsAPSAll OthersUnallocated Corporate ExpensesTotal Company
Net Revenue$270,489 $34,191 $41,704 $74,318 $21,544 $— $442,246 
Cost of sales137,745 20,175 19,972 36,089 9,577 29 223,587 
Selling, general and administrative14,687 4,594 8,962 6,459 7,470 41,329 83,501 
Research and development20,411 12,396 29,372 5,776 5,429 5,388 78,772 
Total operating expenses35,098 16,990 38,334 12,235 12,899 46,717 162,273 
Income / (Loss) from operations$97,646 $(2,974)$(16,602)$25,994 $(932)$(46,746)$56,386 
(in thousands)Six Months Ended March 29, 2025
Reportable segmentsReconciling items
Ball Bonding EquipmentWedge Bonding Equipment
Advanced Solutions(2)
APS(1)
All Others(1)
Unallocated Corporate ExpensesTotal Company
Net Revenue$125,967 $68,420 $45,816 $63,732 $24,175 $— $328,110 
Cost of sales63,628 37,951 13,669 30,352 55,031 11 200,642 
Selling, general and administrative10,607 4,025 (65,042)5,820 48,537 46,511 50,458 
Research and development19,009 10,828 24,744 5,093 11,574 3,780 75,028 
Total operating expenses29,616 14,853 (40,298)10,913 60,111 50,291 125,486 
Income / (Loss) from operations$32,723 $15,616 $72,445 $22,467 $(90,967)$(50,302)$1,982 
(1) In view of the cessation of the EA equipment business, the financial results for the three and six months ended April 4, 2026 now excludes a certain product line from the APS segment and now reports it as part of "All Others". This change in composition of reportable segments has been retrospectively applied to the corresponding results for the three and six months ended March 29, 2025.
(2) The credit balance for the Advanced Solutions segment is primarily due to a $71.1 million reimbursement for certain costs and expenses as a result of the cancellation of the Project and a $1.7 million gain from a supplier settlement, partially offset by $7.8 million of selling, general and administrative expenses.
The following table reconciles total segment profit to total income / (loss) before income taxes for the three and six months ended April 4, 2026 and March 29, 2025: 
Three months endedSix months ended
April 4, 2026March 29, 2025April 4, 2026March 29, 2025
Total income from reportable segments$62,433 $32,862 $104,064 $143,251 
All Others(1,215)(87,326)(932)(90,967)
Unallocated corporate expenses(22,652)(30,203)(46,746)(50,302)
Net interest income3,943 5,586 8,662 11,911 
Income before income taxes$42,509 $(79,081)65,048 13,893 
We have considered: (1) information that is regularly provided to 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 April 4, 2026 and March 29, 2025: 
Three months endedSix months ended
(in thousands)April 4, 2026March 29, 2025April 4, 2026March 29, 2025
General Semiconductor$148,867 $90,684 $273,549 $156,243 
Automotive & Industrial22,217 30,976 35,852 81,430 
Memory31,251 2,806 47,473 13,531 
APS40,286 37,520 85,372 76,906 
Total revenue$242,621 $161,986 $442,246 $328,110 
The following table reflects capital expenditures, depreciation expense and amortization expense for the three and six months ended April 4, 2026 and March 29, 2025:
Three months endedSix months ended
(in thousands)April 4, 2026March 29, 2025April 4, 2026March 29, 2025
Capital expenditures:
Ball Bonding Equipment$63 $50 $98 $57 
Wedge Bonding Equipment437 45 513 80 
Advanced Solutions— 14 — 92 
APS(1)
233 258 982 565 
All Others (1)
40 390 45 615 
Corporate Expenses2,906 1,959 4,110 3,418 
$3,679 $2,716 $5,748 $4,827 
Depreciation expense:
Ball Bonding Equipment$264 $332 $539 $664 
Wedge Bonding Equipment248 228 475 455 
Advanced Solutions257 281 518 516 
APS (1)
1,175 1,308 2,374 2,706 
All Others (1)
322 347 604 676 
Corporate Expenses1,405 1,344 2,812 2,590 
$3,671 $3,840 $7,322 $7,607 
Amortization expense:
Ball Bonding Equipment$— $— $— $— 
Wedge Bonding Equipment— — — — 
Advanced Solutions— — — — 
APS (1)
— — — — 
All Others (1)
216 1,080 432 2,234 
Corporate Expenses91 91 183 183 
$307 $1,171 $615 $2,417 
(1) In view of the cessation of EA equipment business, the financial results for the three and six months ended April 4, 2026 now exclude a certain product line from the APS segment and now reports it as part of "All Others". This change in composition of reportable segments has been retrospectively applied to the corresponding results for the three and six months ended March 29, 2025.