Segments (Tables)
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3 Months Ended |
Jul. 27, 2024 |
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| Segments |
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| Schedule of segment results |
| | | | | | | | | | | | | | | Three Months Ended July 27, 2024 | | | UxS | | LMS | | MW | | Total | Revenue: | | | | | | | | | | | | | Product sales | | $ | 112,301 | | $ | 47,180 | | $ | 23 | | $ | 159,504 | Contract services | | | 7,675 | | | 4,793 | | | 17,511 | | | 29,979 | | | $ | 119,976 | | $ | 51,973 | | $ | 17,534 | | $ | 189,483 | | | | | | | | | | | | | | Segment adjusted gross margin | | $ | 67,252 | | $ | 13,272 | | $ | 4,657 | | $ | 85,181 | | | | | | | | | | | | | | Depreciation and amortization | | $ | 6,901 | | $ | 800 | | $ | 1,151 | | $ | 8,852 |
| | | | | | | | | | | | | | | Three Months Ended July 29, 2023 | | | UxS | | LMS | | MW | | Total | Revenue: | | | | | | | | | | | | | Product sales | | $ | 93,231 | | $ | 25,325 | | $ | 915 | | $ | 119,471 | Contract services | | | 4,976 | | | 5,592 | | | 22,308 | | | 32,876 | | | $ | 98,207 | | $ | 30,917 | | $ | 23,223 | | $ | 152,347 | | | | | | | | | | | | | | Segment adjusted gross margin | | $ | 50,426 | | $ | 12,323 | | $ | 5,308 | | $ | 68,057 | | | | | | | | | | | | | | Depreciation and amortization | | $ | 5,153 | | $ | 559 | | $ | 1,239 | | $ | 6,951 |
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| Schedule of reconciliation from segment adjusted income from operations to income (loss) before taxes |
The following table (in thousands) provides a reconciliation from segment adjusted gross margin to income before income taxes: | | | | | | | | | Three Months Ended | | Three Months Ended | | | July 27, | | July 29, | | | 2024 | | 2023 | Segment adjusted gross margin | | $ | 85,181 | | $ | 68,057 | Amortization in cost of sales | | | (3,714) | | | (2,397) | Selling, general and administrative | | | (33,795) | | | (23,827) | Research and development | | | (24,613) | | | (15,466) | Interest expense, net | | | (239) | | | (2,008) | Other expense, net | | | (234) | | | (1,129) | Income before income taxes | | $ | 22,586 | | $ | 23,230 |
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| Schedule of identifiable assets by segment |
Identifiable segment assets are summarized in the table below. Corporate assets primarily consist of cash and cash equivalents, prepaid expenses and other current assets, long-term investments, property and equipment, net, operating lease right-of-use assets, deferred income taxes and other assets managed centrally on behalf of the business segments. | | | | | | | | | | | | | | | | | | UxS | | LMS | | MW | | Corporate | | Total | As of July 27, 2024 | | $ | 535,001 | | $ | 197,738 | | $ | 49,874 | | $ | 216,556 | | $ | 999,169 | As of April 30, 2024 | | $ | 590,619 | | $ | 165,413 | | $ | 50,767 | | $ | 209,061 | | $ | 1,015,860 |
Capital expenditures are summarized in the table below (in thousands):
| | | | | | | | | | | | | | | | | | UxS | | LMS | | MW | | Corporate | | Total | Three Months Ended July 27, 2024 | | $ | 2,151 | | $ | 1,069 | | $ | 1,353 | | $ | 857 | | $ | 5,430 | Three Months Ended July 29, 2023 | | $ | 2,054 | | $ | 642 | | $ | 638 | | $ | 298 | | $ | 3,632 |
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