Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.8
Segment Information
6 Months Ended
Jun. 28, 2014
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 28, 2014 and June 29, 2013 and a reconciliation of segment operating profit to income before income taxes. Operating profit is 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 28,
2014
    June 29,
2013
    June 28,
2014
    June 29,
2013
 

Sales

        

Aerospace

   $ 243,895      $ 140,345      $ 121,523      $ 68,676   
  

 

 

   

 

 

   

 

 

   

 

 

 

Test Systems

     71,856        4,547        53,167        2,157   

Less Intersegment Sales

     (237     (92     (127     —     
  

 

 

   

 

 

   

 

 

   

 

 

 
     71,619        4,455        53,040        2,157   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Consolidated Sales

   $ 315,514      $ 144,800      $ 174,563      $ 70,833   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating Profit (Loss) and Margins

        

Aerospace

   $ 38,251      $ 25,735      $ 20,761      $ 11,447   
     15.7     18.3     17.1     16.7

Test Systems

     2,335        (2,135     4,030        (610
     3.2     (47.0 )%      7.6     (28.3 )% 
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Operating Profit

     40,586        23,600        24,791        10,837   
     12.9     16.3     14.2     15.3

Deductions from Operating Profit

        

Interest Expense, net of interest income

     4,882        480        2,559        262   

Corporate Expenses and Other

     4,478        4,558        2,310        2,857   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income Before Income Taxes

   $ 31,226      $ 18,562      $ 19,922      $ 7,718   
  

 

 

   

 

 

   

 

 

   

 

 

 

Identifiable Assets

 

(In thousands)    June 28,
2014
     December 31,
2013
 

Aerospace

   $ 448,447       $ 428,619   

Test Systems

     115,325         11,035   

Corporate

     19,003         51,617   
  

 

 

    

 

 

 

Total Assets

   $ 582,775       $ 491,271