v3.26.1
BUSINESS SEGMENT
 9 Months Ended
Jun. 27, 2026
Segment Reporting [Abstract]  
Segment Reporting [Text Block] Business Segment
The Company’s operations are managed as two businesses: IMS and CPS. IMS is a single operating segment consisting of printed circuit board (“PCB”) assembly and test, high-level assembly and test and direct order fulfillment. CPS consists of multiple operating segments which do not individually meet the quantitative thresholds for being presented as reportable segments. Therefore, financial information for these operating segments is presented in a single category entitled “CPS” and the Company has only one reportable segment - IMS. During the first quarter of 2026, the Company completed the acquisition of ZT Systems and the results of this acquisition are included within the IMS segment.

The Company’s chief operating decision maker is the Chief Executive Officer who allocates resources and assesses performance of operating segments based on sales and a measure of gross profit that excludes items not directly related to the Company’s ongoing business operations. This assessment is predominantly performed during the Company’s annual budgeting and quarterly forecasting process where segment resourcing decisions, such as employee and capital, are made.

Intersegment sales consist primarily of sales of components from CPS to IMS. Segment income, which is the segment gross profit, generally does not include stock-based compensation expense, litigation settlements, charges resulting from distressed customer charges and are either non-recurring or non-cash in nature.
Segment information is as follows:

Three Months EndedNine Months Ended
June 27,
2026		June 28,
2025		June 27,
2026		June 28,
2025
(In thousands)
Sales:
Reportable segment - IMS$2,957,043 $1,648,404 $9,331,706 $4,875,352 
Other segments - CPS545,823 422,388 1,441,208 1,249,141 
Intersegment sales elimination(38,850)(29,230)(105,934)(92,503)
Net sales$3,464,016 $2,041,562 $10,666,980 $6,031,990 
Reportable segment expenses - IMS:
Cost of sales2,646,851 1,515,456 8,450,182 4,466,739 
Total expenses$2,646,851 $1,515,456 $8,450,182 $4,466,739 
Gross Profit:
Reportable segment gross profit - IMS$300,724 $123,802 $848,958 $375,774 
Other segments gross profit - CPS69,723 62,204 179,171 171,649 
Selling, general and administrative (1)(86,760)(58,731)(279,793)(185,347)
Research and development (1)(7,914)(7,764)(23,808)(21,519)
Stock-based compensation expense(24,817)(16,081)(72,503)(47,163)
Amortization of intangibles (2)(2,431)— (6,483)— 
Restructuring(1,576)(473)(3,040)(2,899)
Amortization of inventory fair value adjustment— — (49,000)— 
Acquisition, integration and others(21,075)(7,080)(137,022)(7,080)
Interest income9,800 4,200 26,291 11,319 
Interest expense(32,464)(4,981)(89,324)(14,961)
Other income (expense), net(6,809)(3,686)(4,326)(6,370)
Other corporate expenses (3)(4,649)— (4,649)(7,312)
Income before income taxes$191,752 $91,410 $384,472 $266,091 
(1) Amount excludes allocation of stock-based compensation expense.
(2) Amount includes amortization of intangibles in cost of sales and operating expenses.
(3) Primarily related to corporate unallocated expenses such as charges or credits resulting from distressed customers and litigation settlements.
Three Months EndedNine Months Ended
June 27,
2026		June 28,
2025		June 27,
2026		June 28,
2025
(In thousands)
Depreciation and amortization:
Reportable segment - IMS$33,118 $18,962 $91,613 $58,178 
Other segments - CPS10,807 9,518 30,986 28,026 
Total43,925 28,480 122,599 86,204 
Unallocated corporate items (1)4,276 1,280 12,218 3,609 
Total$48,201 $29,760 $134,817 $89,813 
Capital expenditures (receipt basis):
Reportable segment - IMS$77,077 $29,749 $190,191 $58,989 
Other segments - CPS24,744 19,011 61,958 41,533 
Total101,821 48,760 252,149 100,522 
Unallocated corporate items (1)1,643 841 3,477 2,325 
Total$103,464 $49,601 $255,626 $102,847 

(1)    Primarily related to selling, general and administration functions.

As of
June 27,
2026		September 27,
2025
(In thousands)
Segment Assets:
Reportable segment - IMS (1)$5,689,384 $3,109,754 
Other unallocated assets4,050,350 2,748,419 
Total$9,739,734 $5,858,173 

(1)    Segment assets consists of accounts receivable, inventories and property, plant and equipment, net.

Long-lived assets, net by geographic area is as follows:

As of
June 27,
2026		September 27,
2025
(In thousands)
U.S. (country of domicile)$442,772 $170,634 
Mexico (>10% of total)$333,008 $267,430 
Other$275,634 $244,290 
  Total$1,051,414 $682,354 

Location of long-lived assets was determined based on entities that owned the long-lived assets. No other individual foreign country accounted for more than 10% of the long-lived assets as of June 27, 2026 and September 27, 2025.