v3.26.1
SEGMENT INFORMATION
 9 Months Ended
Jul. 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, and die-attach 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 nine months ended July 4, 2026 and June 28, 2025: 
(in thousands)Three months ended July 4, 2026
Reportable segmentsReconciling items
Ball Bonding EquipmentWedge Bonding EquipmentAdvanced SolutionsAPSAll OthersUnallocated Corporate ExpensesTotal Company
Net Revenue$226,068 $25,777 $29,415 $35,772 $13,377 $— $330,409 
Cost of sales 111,462 14,786 19,204 17,522 9,456 30 172,460 
Selling, general and administrative9,600 2,591 4,765 3,339 2,100 23,374 45,769 
Research and development11,799 6,918 17,999 3,210 2,265 1,723 43,914 
Total operating expenses21,399 9,509 22,764 6,549 4,365 25,097 89,683 
Income / (Loss) from operations$93,207 $1,482 $(12,553)$11,701 $(444)$(25,127)$68,266 
(in thousands)Three months ended June 28, 2025
Reportable segmentsReconciling items
Ball Bonding EquipmentWedge Bonding EquipmentAdvanced Solutions
APS(1)
All Others(1)
Unallocated Corporate ExpensesTotal Company
Net Revenue$75,990 $22,126 $10,811 $31,392 $8,094 $— $148,413 
Cost of sales37,386 12,577 5,751 15,599 7,852 5 79,170 
Selling, general and administrative(2)
5,930 2,077 3,888 3,067 4,348 20,286 39,596 
Research and development9,194 5,407 11,864 2,325 5,128 1,823 35,741 
Total operating expenses15,124 7,484 15,752 5,392 9,476 22,109 75,337 
Income / (Loss) from operations$23,480 $2,065 $(10,692)$10,401 $(9,234)$(22,114)$(6,094)
(in thousands)Nine Months Ended July 4, 2026
Reportable segmentsReconciling items
Ball Bonding EquipmentWedge Bonding EquipmentAdvanced SolutionsAPSAll OthersUnallocated Corporate ExpensesTotal Company
Net Revenue$496,557 $59,968 $71,119 $110,090 $34,921 $— $772,655 
Cost of sales249,207 34,961 39,176 53,611 19,033 59 396,047 
Selling, general and administrative24,287 7,185 13,727 9,798 9,570 64,703 129,270 
Research and development32,210 19,314 47,371 8,986 7,694 7,111 122,686 
Total operating expenses56,497 26,499 61,098 18,784 17,264 71,814 251,956 
Income / (Loss) from operations$190,853 $(1,492)$(29,155)$37,695 $(1,376)$(71,873)$124,652 
(in thousands)Nine Months Ended June 28, 2025
Reportable segmentsReconciling items
Ball Bonding EquipmentWedge Bonding Equipment
Advanced Solutions(3)
APS(1)
All Others(1)
Unallocated Corporate ExpensesTotal Company
Net Revenue$201,957 $90,546 $56,627 $95,124 $32,269 $— $476,523 
Cost of sales101,014 50,528 19,420 45,950 62,884 16 279,812 
Selling, general and administrative(2)
16,538 6,102 (61,154)8,887 52,885 66,796 90,054 
Research and development28,202 16,235 36,608 7,418 16,702 5,604 110,769 
Total operating expenses44,740 22,337 (24,546)16,305 69,587 72,400 200,823 
Income / (Loss) from operations$56,203 $17,681 $61,753 $32,869 $(100,202)$(72,416)$(4,112)
(1) In view of the cessation of the EA equipment business, the financial results for the three and nine months ended July 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 nine months ended June 28, 2025.
(2) The amounts presented reconcile to the aggregate of the "Selling, general and administrative", "Gain related to the cessation of business" and "Impairment charges" separately presented in the Condensed Consolidated Statements of Operations for the three and nine months ended June 28, 2025.
(3) 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 $11.6 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 nine months ended July 4, 2026 and June 28, 2025: 
Three months endedNine months ended
July 4, 2026June 28, 2025July 4, 2026June 28, 2025
Total income from reportable segments$93,837 $25,254 $197,901 $168,506 
All Others(444)(9,234)(1,376)(100,202)
Unallocated corporate expenses(25,127)(22,114)(71,873)(72,416)
Net interest income4,495 5,976 13,157 17,887 
Income before income taxes$72,761 $(118)137,809 13,775 
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 nine months ended July 4, 2026 and June 28, 2025: 
Three months endedNine months ended
(in thousands)July 4, 2026June 28, 2025July 4, 2026June 28, 2025
General Semiconductor$227,240 $79,381 $500,789 $235,624 
Automotive & Industrial24,216 17,116 60,068 98,546 
Memory34,005 15,468 81,478 28,999 
APS44,948 36,448 130,320 113,354 
Total revenue$330,409 $148,413 $772,655 $476,523 
The following table reflects capital expenditures, depreciation expense and amortization expense for the three and nine months ended July 4, 2026 and June 28, 2025:
Three months endedNine months ended
(in thousands)July 4, 2026June 28, 2025July 4, 2026June 28, 2025
Capital expenditures:
Ball Bonding Equipment$145 $19 $243 $76 
Wedge Bonding Equipment313 211 826 291 
Advanced Solutions9,884 32 9,884 124 
APS(1)
370 421 1,352 986 
All Others (1)
20 410 65 1,025 
Corporate Expenses1,172 1,640 5,282 5,058 
$11,904 $2,733 $17,652 $7,560 
Depreciation expense:
Ball Bonding Equipment$254 $321 $793 $985 
Wedge Bonding Equipment266 219 741 674 
Advanced Solutions244 277 762 793 
APS (1)
1,142 1,203 3,516 3,909 
All Others (1)
261 261 865 937 
Corporate Expenses1,528 1,328 4,340 3,918 
$3,695 $3,609 $11,017 $11,216 
Amortization expense:
Ball Bonding Equipment$— $— $— $— 
Wedge Bonding Equipment— — — — 
Advanced Solutions— — — — 
APS (1)
— — — — 
All Others (1)
216 216 648 2,450 
Corporate Expenses92 92 275 275 
$308 $308 $923 $2,725 
(1) In view of the cessation of EA equipment business, the financial results for the three and nine months ended July 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 nine months ended June 28, 2025.