As this outline of the growth, we go back to ‘98, we had bookings have been grown about 12% in compound annual growth rate, you see some volatility in that. in the near-term, we’ve also had a good track record of continuing to grow, and as you can see if you look at the period of the great recession, we didn’t suffer a significant amount during that period. And I think that speaks to the robust of our diversified market geographic model for the company.
If you look by segment, and let’s go through briefly what the segments are. Electronics, think semiconductor customers, think Intel, it’s about a third of our business, and we like it at that type. I’d like to emphasize lot of people who often look at noncyclical businesses are little bit scared buyback, and our thesis is within that segment we’re cyclical growth, our opportunity has been growing, and I’ll show you some data on that.
We have a certain call Material Science, think college professors, researchers, and industrial companies that looking material, and I want to understand where the items are, what the items are doing in that information, the capability we provide them with. And then Life Sciences, we provide a similar capability to researchers think National Institutes of Health and universities primarily some technologies, medicals of customer of us. Well we’re providing them with a capability to image in three dimensions, interesting pieces of the biological machinery of life.
And then finally have a large service and components business, two of our sophisticated, they’re complicated average stone crisis of $1 million to give you scale, and we can provide the proprietary service capability for that, a modest gross margin business, but highly profitable business overall.If you look by the bookings by geography, I want to focus on the charts on the bottom. We are about third USA and Canada with the trend lines. Europe plus, which I have been placed include South America, the way we report right now. It’s been about core to a third of our business, and what’s been that the big driver in the past three years, and I’ll show a little bit more on that is the growth of the emerging markets particularly Asia and specifically China over the past few years. China represents about eight of FEI’s business. Read the rest of this transcript for free on seekingalpha.com