| Segment Information |
15) Segment Information
Below are the sales and operating profit by segment for the three
and nine months ended September 28, 2013 and
September 29, 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.
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Nine months Ended |
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Three Months Ended |
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| (Dollars in thousands) |
|
September 28,
2013 |
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|
September 29,
2012 |
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|
September 28,
2013 |
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September 29,
2012 |
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Sales
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Aerospace
|
|
$ |
227,870 |
|
|
$ |
190,212 |
|
|
$ |
87,525 |
|
|
$ |
65,788 |
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Test Systems
|
|
|
7,207 |
|
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|
8,814 |
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|
|
2,660 |
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|
|
3,111 |
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Less Intersegment Sales
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|
(596 |
) |
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— |
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(504 |
) |
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— |
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|
6,611 |
|
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|
8,814 |
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|
2,156 |
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|
3,111 |
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Total Consolidated Sales
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$ |
234,481 |
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$ |
199,026 |
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$ |
89,681 |
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$ |
68,899 |
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Operating Profit (Loss) and Margins
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Aerospace
|
|
$ |
41,112 |
|
|
$ |
33,358 |
|
|
$ |
15,377 |
|
|
$ |
10,577 |
|
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|
18.0 |
% |
|
|
17.5 |
% |
|
|
17.6 |
% |
|
|
16.1 |
% |
|
Test Systems
|
|
|
(2,880 |
) |
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|
(3,525 |
) |
|
|
(745 |
) |
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|
(1,132 |
) |
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|
(40.0 |
)% |
|
|
(40.0 |
)% |
|
|
(28.0 |
)% |
|
|
(36.4 |
)% |
|
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Total Operating Profit
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|
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38,232 |
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|
|
29,833 |
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|
|
14,632 |
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|
|
9,445 |
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|
16.3 |
% |
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|
15.0 |
% |
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|
16.3 |
% |
|
|
13.7 |
% |
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Deductions from Operating Profit
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Interest Expense
|
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|
2,085 |
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|
|
803 |
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|
1,605 |
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|
274 |
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Corporate Expenses and Other
|
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|
6,838 |
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|
5,137 |
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|
2,280 |
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|
1,790 |
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Income Before Income Taxes
|
|
$ |
29,309 |
|
|
$ |
23,893 |
|
|
$ |
10,747 |
|
|
$ |
7,381 |
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Identifiable Assets
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| (In thousands) |
|
September 28,
2013 |
|
|
December 31,
2012 |
|
|
Aerospace
|
|
$ |
349,363 |
|
|
$ |
177,168 |
|
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Test Systems
|
|
|
9,584 |
|
|
|
18,121 |
|
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Corporate
|
|
|
73,883 |
|
|
|
16,700 |
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Total Assets
|
|
$ |
432,830 |
|
|
$ |
211,989 |
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