Quarterly report pursuant to Section 13 or 15(d)

Business Segment Information

v3.21.2
Business Segment Information
 9 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Business Segment Information

 

11.  Business Segment Information

 

Upon the acquisition of IDI in the second quarter of 2021 (see Note 2), we evaluated our organizational structure and concluded that we have two reportable business segments following the acquisition. 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.

 

Material and Substrate – We produce consumables and machinery for lapping (fine abrading) and polishing of materials, such as sapphire substrates, optical components, silicon wafers, numerous types of crystal materials, ceramics and metal components. Our Material and Substrate segment includes our former SiC/LED segment in addition to IDI, as they sell complementary products to a similar market.

 

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

 

 

 

Three Months Ended June 30,

 

 

Nine Months Ended June 30,

 

 

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net Revenues:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Semiconductor

 

$

19,501

 

 

$

12,357

 

 

$

52,195

 

 

$

41,581

 

Material and Substrate

 

 

3,599

 

 

 

2,870

 

 

 

8,670

 

 

 

8,155

 

Non-segment related

 

 

—

 

 

 

—

 

 

 

—

 

 

 

643

 

 

 

$

23,100

 

 

$

15,227

 

 

$

60,865

 

 

$

50,379

 

Operating income (loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Semiconductor

 

$

2,114

 

 

$

1,058

 

 

$

5,976

 

 

$

3,762

 

Material and Substrate

 

 

333

 

 

 

241

 

 

 

14

 

 

 

1,196

 

Non-segment related

 

 

(1,243

)

 

 

(1,268

)

 

 

(3,561

)

 

 

(4,262

)

 

 

$

1,204

 

 

$

31

 

 

$

2,429

 

 

$

696

 

 

 

 

June 30,

2021

 

 

September 30,

2020

 

Identifiable Assets:

 

 

 

 

 

 

 

 

Semiconductor

 

$

65,155

 

 

$

51,648

 

Material and Substrate

 

 

20,630

 

 

 

12,717

 

Non-segment related*

 

 

29,784

 

 

 

37,733

 

 

 

$

115,569

 

 

$

102,098

 

 

*

Non-segment related assets include cash, property, income tax assets and other 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, 2020.