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Financial report summary
?Management Discussion
- Net sales. For the three months ended December 30, 2023, net sales decreased $111.3 million, or 10.2%, as compared to the three months ended December 31, 2022.
- Net sales are analyzed by management by geographic segment, which reflects our reportable segments, and by market sector. Management measures operational performance and allocates resources on a geographic segment basis. Our global business development strategy is based on our targeted market sectors.
- AMER. Net sales for the three months ended December 30, 2023 in the AMER segment decreased $56.0 million, or 14.4%, as compared to the three months ended December 31, 2022. The decrease in net sales was driven by overall net decreased customer end-market demand inclusive of market-driven inventory corrections at the customers as well as reductions in inflated component pricing. The decrease was partially offset by an increase of $8.7 million due to production ramps for new customers.