| Results of Operations, Depreciation and Amortization Expenses by Reportable Segments |
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Three Months Ended July 3, 2026 |
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Six Months Ended July 3, 2026 |
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Automation Enabling Technologies |
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|
Medical Solutions |
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Total |
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Automation Enabling Technologies |
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|
Medical Solutions |
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|
Total |
|
Revenue |
$ |
136,215 |
|
|
$ |
129,592 |
|
|
$ |
265,807 |
|
|
$ |
267,459 |
|
|
$ |
256,055 |
|
|
$ |
523,514 |
|
Cost of revenue |
|
63,419 |
|
|
|
76,714 |
|
|
|
|
|
|
130,707 |
|
|
|
148,443 |
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|
|
|
Amortization of purchased intangible assets |
|
1,200 |
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|
|
2,555 |
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|
|
|
|
|
2,400 |
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|
|
5,114 |
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Segment gross profit |
|
71,596 |
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|
|
50,323 |
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|
|
121,919 |
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|
|
134,352 |
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|
|
102,498 |
|
|
|
236,850 |
|
Research and development and engineering |
|
9,496 |
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|
14,667 |
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|
|
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|
18,528 |
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|
28,915 |
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|
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Selling, general and administrative |
|
20,784 |
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|
16,585 |
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|
40,673 |
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|
32,891 |
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|
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Amortization of purchased intangible assets |
|
2,704 |
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|
|
3,711 |
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|
|
|
|
|
4,823 |
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|
|
7,366 |
|
|
|
|
Restructuring, acquisition, and related costs |
|
2,020 |
|
|
|
1,753 |
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|
|
|
|
|
2,583 |
|
|
|
2,993 |
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|
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Segment operating income |
|
36,592 |
|
|
|
13,607 |
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|
|
50,199 |
|
|
|
67,745 |
|
|
|
30,333 |
|
|
|
98,078 |
|
Unallocated costs |
|
— |
|
|
|
— |
|
|
|
(32,138 |
) |
|
|
— |
|
|
|
— |
|
|
|
(52,478 |
) |
Interest income (expense), net |
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— |
|
|
|
— |
|
|
|
(1,106 |
) |
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|
— |
|
|
|
— |
|
|
|
(2,949 |
) |
Other income (expense), net |
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— |
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|
|
— |
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(1,057 |
) |
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|
— |
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— |
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|
|
(399 |
) |
Income before income taxes |
$ |
36,592 |
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|
$ |
13,607 |
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|
$ |
15,898 |
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|
$ |
67,745 |
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|
$ |
30,333 |
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|
$ |
42,252 |
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|
Three Months Ended June 27, 2025 |
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Six Months Ended June 27, 2025 |
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|
Automation Enabling Technologies |
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|
Medical Solutions |
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Total |
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|
Automation Enabling Technologies |
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|
Medical Solutions |
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|
Total |
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Revenue |
$ |
121,672 |
|
|
$ |
119,377 |
|
|
$ |
241,049 |
|
|
$ |
244,839 |
|
|
$ |
229,576 |
|
|
$ |
474,415 |
|
Cost of revenue |
|
62,136 |
|
|
|
66,973 |
|
|
|
|
|
|
124,559 |
|
|
|
129,009 |
|
|
|
|
Amortization of purchased intangible assets |
|
1,330 |
|
|
|
2,890 |
|
|
|
|
|
|
2,689 |
|
|
|
5,092 |
|
|
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|
Segment gross profit |
|
58,206 |
|
|
|
49,514 |
|
|
|
107,720 |
|
|
|
117,591 |
|
|
|
95,475 |
|
|
|
213,066 |
|
Research and development and engineering |
|
9,269 |
|
|
|
16,169 |
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|
|
|
|
|
18,708 |
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|
|
30,125 |
|
|
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Selling, general and administrative |
|
18,331 |
|
|
|
15,064 |
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|
|
|
|
|
37,489 |
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|
|
29,794 |
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|
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Amortization of purchased intangible assets |
|
2,347 |
|
|
|
4,524 |
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|
|
|
|
|
4,755 |
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|
|
7,670 |
|
|
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|
Restructuring, acquisition, and related costs |
|
1,385 |
|
|
|
7,132 |
|
|
|
|
|
|
(1,724 |
) |
|
|
7,232 |
|
|
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|
Segment operating income |
|
26,874 |
|
|
|
6,625 |
|
|
|
33,499 |
|
|
|
58,363 |
|
|
|
20,654 |
|
|
|
79,017 |
|
Unallocated costs |
|
— |
|
|
|
— |
|
|
|
(18,588 |
) |
|
|
— |
|
|
|
— |
|
|
|
(31,685 |
) |
Interest income (expense), net |
|
— |
|
|
|
— |
|
|
|
(5,815 |
) |
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|
— |
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|
|
— |
|
|
|
(11,459 |
) |
Other income (expense), net |
|
— |
|
|
|
— |
|
|
|
(3,307 |
) |
|
|
— |
|
|
|
— |
|
|
|
(3,666 |
) |
Income before income taxes |
$ |
26,874 |
|
|
$ |
6,625 |
|
|
$ |
5,789 |
|
|
$ |
58,363 |
|
|
$ |
20,654 |
|
|
$ |
32,207 |
|
|
|
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|
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|
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|
|
|
|
|
|
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Three Months Ended |
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Six Months Ended |
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|
July 3, |
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|
June 27, |
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|
July 3, |
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|
June 27, |
|
Depreciation and Amortization Expenses |
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Automation Enabling Technologies |
$ |
5,681 |
|
|
$ |
5,445 |
|
|
$ |
9,880 |
|
|
$ |
10,921 |
|
Medical Solutions |
|
8,608 |
|
|
|
9,745 |
|
|
|
18,185 |
|
|
|
17,424 |
|
Unallocated |
|
359 |
|
|
|
391 |
|
|
|
743 |
|
|
|
799 |
|
Total |
$ |
14,648 |
|
|
$ |
15,581 |
|
|
$ |
28,808 |
|
|
$ |
29,144 |
|
|
|
|
|
|
|
|
|
|
July 3, |
|
|
December 31, |
|
|
2026 |
|
|
2025 |
|
Accounts Receivable |
|
|
|
|
|
Automation Enabling Technologies |
$ |
80,647 |
|
|
$ |
76,685 |
|
Medical Solutions |
|
98,101 |
|
|
|
108,195 |
|
Total accounts receivable |
$ |
178,748 |
|
|
$ |
184,880 |
|
Inventories |
|
|
|
|
|
Automation Enabling Technologies |
$ |
116,428 |
|
|
$ |
110,205 |
|
Medical Solutions |
|
76,281 |
|
|
|
78,079 |
|
Total inventories |
$ |
192,709 |
|
|
$ |
188,284 |
|
Total segment assets |
$ |
371,457 |
|
|
$ |
373,164 |
|
|
| Schedule of Geographic Revenue |
The Company aggregates geographic revenue based on the customer locations where products are shipped to. Revenue by geography was as follows (in thousands):
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|
|
|
|
|
|
|
|
|
|
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|
|
|
|
Three Months Ended |
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Six Months Ended |
|
|
July 3, |
|
|
June 27, |
|
|
July 3, |
|
|
June 27, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
United States |
$ |
131,435 |
|
|
$ |
128,118 |
|
|
$ |
253,449 |
|
|
$ |
251,764 |
|
Germany |
|
33,310 |
|
|
|
27,258 |
|
|
|
69,604 |
|
|
|
55,735 |
|
Rest of Europe |
|
38,078 |
|
|
|
34,847 |
|
|
|
80,318 |
|
|
|
66,628 |
|
China |
|
25,456 |
|
|
|
21,777 |
|
|
|
49,005 |
|
|
|
43,211 |
|
Rest of Asia-Pacific |
|
28,468 |
|
|
|
24,667 |
|
|
|
55,857 |
|
|
|
48,046 |
|
Other |
|
9,060 |
|
|
|
4,382 |
|
|
|
15,281 |
|
|
|
9,031 |
|
Total |
$ |
265,807 |
|
|
$ |
241,049 |
|
|
$ |
523,514 |
|
|
$ |
474,415 |
|
|