Uster Technologies Ltd | Annual Report 2009 Uster Technologies ...

The fair value of the bank loans has been determined using market interest rates. As of December 31, 2009,the Group held an interest rate swap measured at fair value, which classifies as Level 2 fair value measurement.During the reporting period there have been no transfers between the Level 1 and Level 2 fair valuemeasurement.The fair value of unquoted instruments is estimated by discounting expected future cash flows usingmarket rates currently available for instruments on similar terms, credit risk and remaining maturities.5 Segment ReportingUnder the application of IFRS 8 (management approach) the Group is organized in only one operatingsegment. Whilst revenues are primarily reported by geographical areas, the operating results and thestatement of financial position are only analyzed at Group level. This is the primary way in whichManagement and the board of directors are provided with financial information to decide on allocationof resources. Therefore the information by operating segment has already been given in these ConsolidatedFinancial Statements.The Group’s activities are managed with focus on the three geographical regions: Asia, Europe and theAmericas. In each of these geographical regions the Group is present with a Technology Center to be closeto the market. Therefore the following information is primarily given following the management focus.Additional country level information is provided below the respective table.Gross Sales by Geographical Location of Customersin CHF 1,000 Jan 1 –Dec 31, 2009Jan 1 –Dec 31, 2008Asia 71,672 71.1% 102,447 66.1%Europe 15,863 15.7% 34,566 22.3%Americas 13,228 13.1% 17,880 11.5%Total 100,763 100.0% 154,893 100.0%Total Sales attributable to the country of domicile amounted to CHF 0.3 million (2008: CHF 1.0 million).In 2009 the sales to Chinese customers amounted to 39.2% of total sales (2008: 22.9%) and revenues withIndian customers reached 5.7% (2008: 11.4%) of total sales. Revenues of approximately CHF 15.6 million(2008: CHF 7.6 million) are derived from a single external customer. These revenues are included in the geographicallocation Asia. Thanks to the good relationship the risk of losing this customer could be minimized.74 Uster Group – Notes to the Consolidated Financial Statements 2009