Quarterly report pursuant to Section 13 or 15(d)

Business Segments Information

v3.20.2
Business Segments Information
9 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Business Segment Information

10.  Business Segment Information

After announcing the planned divestiture of our Solar segment (see Note 4), we conducted an evaluation of our organizational structure.  Beginning with the second quarter of fiscal 2019, we made changes to our reportable segments.  With the divesture of our Automation segment in the first quarter of fiscal 2020, we further evaluated our organizational structure and concluded that we have two reportable business segments following the divestiture.  Prior period amounts have been revised to conform to the current period segment reporting structure.  Our two reportable segments are as follows:

Semiconductor We design, manufacture, sell and service thermal processing equipment and related controls for use by leading semiconductor manufacturers, and in electronics, automotive and other industries.

SiC/LED We produce consumables and machinery for lapping (fine abrading) and polishing of materials, such as silicon and silicon carbide substrates, sapphire substrates, optical components, numerous types of crystalline materials, ceramics and metal components.  We formerly referred to our SiC/LED segment as “Polishing.”

Information concerning our business segments is as follows, in thousands:

 

 

 

Three Months Ended June 30,

 

 

Nine Months Ended June 30,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Net Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Semiconductor

 

$

12,357

 

 

$

16,254

 

 

$

41,581

 

 

$

51,267

 

SiC/LED

 

 

2,870

 

 

 

3,074

 

 

 

8,155

 

 

 

9,330

 

Non-segment related

 

 

 

 

 

1,675

 

 

 

643

 

 

 

4,264

 

 

 

$

15,227

 

 

$

21,003

 

 

$

50,379

 

 

$

64,861

 

Operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Semiconductor

 

$

1,058

 

 

$

1,951

 

 

$

3,762

 

 

$

6,428

 

SiC/LED

 

 

241

 

 

 

607

 

 

 

1,196

 

 

 

2,253

 

Non-segment related

 

 

(1,268

)

 

 

(1,207

)

 

 

(4,262

)

 

 

(5,418

)

 

 

$

31

 

 

$

1,351

 

 

$

696

 

 

$

3,263

 

 

 

 

June 30,

2020

 

 

September 30,

2019

 

Identifiable Assets:

 

 

 

 

 

 

 

 

Semiconductor

 

$

55,374

 

 

$

56,855

 

SiC/LED

 

 

13,337

 

 

 

7,779

 

Non-segment related*

 

 

35,345

 

 

 

39,088

 

Held-for-sale assets**

 

 

 

 

 

22,755

 

 

 

$

104,056

 

 

$

126,477

 

 

*

Non-segment related assets include cash, property and other assets.

**

See Note 4 for additional information on held-for-sale assets.

Goodwill and other long-lived assets

We review our long-lived assets, including goodwill, for impairment at least annually in our fourth quarter or whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Additional information on impairment testing of long-lived assets, intangible assets and goodwill can be found in Notes 1 and 10 of our Annual Report on Form 10-K for the year ended September 30, 2019.