| REPORTABLE SEGMENTS The Company’s Chief Executive Officer is the Company’s chief operating decision maker (CODM). The CODM primarily uses income from operations to evaluate each segment’s performance and allocate resources, primarily through periodic budgeting and segment performance reviews. Significant expenses within segment operating profit include cost of revenue, research and development, and selling, general and administrative expenses, which are each separately presented on the Company’s Condensed Consolidated Statements of Operations. The Company’s reportable segments are determined based on the nature of their revenue streams and the Company’s internal organization structure. The Company prepared financial results based on two operating segments (Products and Services) and two reportable segments (Products and Services). The following table describes each segment: | | | | | | | | | | | | | | | | | | | | | | Segment | | Product or Services | | Primary Markets Served | | Geographic Areas | | Products | | Assembly
Weldments
Machining
Fabrication | | Semiconductor | | Americas Asia Pacific EMEA | | Services | | Cleaning
Analytics
Coating | | Semiconductor | | Americas Asia Pacific EMEA |
The CODM uses segment operating profit or loss to evaluate performance and to allocate capital resources. Segment operating profit or loss is defined as a segment’s income or loss from continuing operations before interest and other income (expense), net and provision for income taxes. Any intercompany sales and associated profit (and any other intercompany items) are eliminated from segment results. Segment Data | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | (In millions) | June 26,
2026 | | June 27,
2025 | | June 26,
2026 | | June 27,
2025 | | Revenues: | | | | | | | | | Products | $ | 572.7 | | | $ | 454.9 | | | $ | 1,038.4 | | | $ | 911.9 | | | Services | 72.2 | | | 63.9 | | | 140.2 | | | 125.5 | | | Total segment revenues | $ | 644.9 | | | $ | 518.8 | | | $ | 1,178.6 | | | $ | 1,037.4 | | | | | | | | | | | Cost of revenues: | | | | | | | | | Products | $ | 488.8 | | | $ | 393.3 | | | $ | 889.5 | | | $ | 783.5 | | | Services | 52.4 | | | 46.0 | | | 101.0 | | | 90.4 | | | Total segment cost of revenues | $ | 541.2 | | | $ | 439.3 | | | $ | 990.5 | | | $ | 873.9 | | | | | | | | | | | Gross profit: | | | | | | | | | Products | $ | 83.9 | | | $ | 61.6 | | | $ | 148.9 | | | $ | 128.4 | | | Services | 19.8 | | | 17.9 | | | 39.2 | | | 35.1 | | | Total segment gross profit | $ | 103.7 | | | $ | 79.5 | | | $ | 188.1 | | | $ | 163.5 | | | | | | | | | | | Operating expenses: | | | | | | | | | Products | | | | | | | | | Research and development | $ | 6.1 | | | $ | 5.4 | | | $ | 12.3 | | | $ | 10.5 | | | Sales and marketing | 12.8 | | 12.7 | | 25 | | 24.7 | | General and administrative | 40.2 | | 36.8 | | 79.8 | | 76.3 | | Impairment of goodwill | — | | | 77.6 | | — | | | 77.6 | | Total Products operating expenses | 59.1 | | 132.5 | | 117.1 | | 189.1 | | Services | | | | | | | | | Research and development | 2.7 | | 2.4 | | 5.1 | | 4.9 | | Sales and marketing | 3.6 | | 2.8 | | 6.9 | | 5.7 | | General and administrative | 8.8 | | | 10.1 | | | 18.2 | | 19.2 | | | Impairment of goodwill | — | | | 73.5 | | — | | | 73.5 | | Total Services operating expenses | 15.1 | | 88.8 | | 30.2 | | 103.3 | | Total segment operating expenses | $ | 74.2 | | | $ | 221.3 | | | $ | 147.3 | | | $ | 292.4 | | | | | | | | | | | Segment operating profit (loss): | | | | | | | | | Products | $ | 24.8 | | | $ | (70.9) | | | $ | 31.8 | | | $ | (60.7) | | | Services | 4.7 | | | (70.9) | | | 9.0 | | | (68.2) | |
| | | | | | | | | | | | | | | | | | | | | | | | | Total segment operating profit (loss) | $ | 29.5 | | | $ | (141.8) | | | $ | 40.8 | | | $ | (128.9) | | | | | | | | | | | Reconciliation of segment operating profit (loss): | | | | | | | | | Total segment operating profit (loss) | $ | 29.5 | | | $ | (141.8) | | | $ | 40.8 | | | $ | (128.9) | | | Interest income | 1.0 | | | 0.8 | | | 2.4 | | | 1.9 | | | Interest expense | (1.1) | | | (10.1) | | | (8.3) | | | (20.0) | | | Other income (expense), net | 0.6 | | | (2.2) | | | (0.7) | | | (1.3) | | | Income (loss) before provision for income taxes | $ | 30.0 | | | $ | (153.3) | | | $ | 34.2 | | | $ | (148.3) | | | | | | | | | | | Expenditures for segment property, plant and equipment | | | | | | | | | Products | $ | 12.6 | | | $ | 9.7 | | | $ | 19.4 | | | $ | 18.8 | | | Services | 3.6 | | | 7.1 | | | 6.4 | | | 10.3 | | | Total expenditures for segment assets | $ | 16.2 | | | $ | 16.8 | | | $ | 25.8 | | | $ | 29.1 | | | | | | | | | | | Depreciation and amortization | | | | | | | | | Products | $ | 12.8 | | | $ | 12.5 | | | $ | 25.6 | | | $ | 25.1 | | | Services | 6.5 | | | 6.2 | | | 12.9 | | | 12.6 | | | Total depreciation and amortization | $ | 19.3 | | | $ | 18.7 | | | $ | 38.5 | | | $ | 37.7 | | | | | | | | | | | (In millions) | | | | | June 26,
2026 | | December 26,
2025 | | Assets | | | | | | | | | Products | | | | | $ | 1,617.0 | | | $ | 1,446.0 | | | Services | | | | | 301.1 | | | 283.0 | | | Total segment assets | | | | | $ | 1,918.1 | | | $ | 1,729.0 | |
Long-lived assets comprised of operating lease right-of-use assets and property, plant and equipment, net, are reported based on the location of the asset. The carrying amount of long-lived assets in United States, Malaysia, Israel, South Korea and other foreign countries were $165.1 million, $87.5 million, $66.2 million, $46.2 million and $116.8 million, respectively as of June 26, 2026, and $172.6 million, $81.0 million, $69.6 million, $50.0 million and $108.4 million, respectively as of December 26, 2025.
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