Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.8
Segment Information
6 Months Ended
Jun. 29, 2013
Segment Reporting [Abstract]  
Segment Information

15) Segment Information

Below are the sales and operating profit by segment for the three and six months ended June 29, 2013 and June 30, 2012 and a reconciliation of segment operating profit to earnings before income taxes. Operating profit is the net sales less cost of products sold and other operating expenses excluding interest and corporate expenses. Cost of products sold and other operating expenses are directly identifiable to the respective segment.

 

     Six Months Ended     Three Months Ended  
(Dollars in thousands)    June 29,
2013
    June 30,
2012
    June 29,
2013
    June 30,
2012
 

Sales

        

Aerospace

   $ 140,345      $ 124,424      $ 68,676      $ 62,423   
  

 

 

   

 

 

   

 

 

   

 

 

 

Test Systems

     4,547        5,703        2,157        2,566   

Less Intersegment Sales

     (92     —          —          —     
  

 

 

   

 

 

   

 

 

   

 

 

 
     4,455        5,703        2,157        2,566   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Consolidated Sales

   $ 144,800      $ 130,127      $ 70,833      $ 64,989   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating Profit (Loss) and Margins

        

Aerospace

   $ 25,735      $ 22,781      $ 11,447      $ 10,903   
     18.3     18.3     16.7     17.5

Test Systems

     (2,135     (2,393     (610     (1,318
     (47.0 )%      (42.0 )%      (28.3 )%      (51.4 )% 
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Operating Profit

     23,600        20,388        10,837        9,585   
     16.3     15.7     15.3     14.7

Deductions from Operating Profit

        

Interest Expense

     480        529        262        266   

Corporate Expenses and Other

     4,558        3,347        2,857        1,809   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income Before Income Taxes

   $ 18,562      $ 16,512      $ 7,718      $ 7,510   
  

 

 

   

 

 

   

 

 

   

 

 

 

Identifiable Assets

 

(In thousands)    June 29,
2013
     December 31,
2012
 

Aerospace

   $ 180,075       $ 177,168   

Test Systems

     16,028         18,121   

Corporate

     26,334         16,700   
  

 

 

    

 

 

 

Total Assets

   $ 222,437       $ 211,989