Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v2.4.0.8
Segment Information
9 Months Ended
Sep. 27, 2014
Segment Reporting [Abstract]  
Segment Information

15) Segment Information

Below are the sales and operating profit by segment for the three and nine months ended September 27, 2014 and September 28, 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.

 

     Nine Months Ended     Three Months Ended  
(Dollars in thousands)    Sept. 27,
2014
    Sept. 28,
2013
    Sept. 27,
2014
    Sept. 28,
2013
 

Sales

        

Aerospace

   $ 366,128      $ 227,870      $ 122,233      $ 87,525   
  

 

 

   

 

 

   

 

 

   

 

 

 

Test Systems

     129,065        7,207        57,209        2,660   

Less Intersegment Sales

     (237     (596     —          (504
  

 

 

   

 

 

   

 

 

   

 

 

 
     128,828        6,611        57,209        2,156   
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Consolidated Sales

   $ 494,956      $ 234,481      $ 179,442      $ 89,681   
  

 

 

   

 

 

   

 

 

   

 

 

 

Operating Profit (Loss) and Margins

        

Aerospace

   $ 60,308      $ 41,112      $ 22,057      $ 15,377   
     16.5     18.0     18.0     17.6

Test Systems

     8,034        (2,880     5,699        (745
     6.2     (40.0 )%      10.0     (28.0 )% 
  

 

 

   

 

 

   

 

 

   

 

 

 

Total Operating Profit

     68,342        38,232        27,756        14,632   
     13.8     16.3     15.5     16.3

Deductions from Operating Profit

        

Interest Expense, net of interest income

     7,183        2,085        2,301        1,605   

Corporate Expenses and Other

     6,463        6,838        1,985        2,280   
  

 

 

   

 

 

   

 

 

   

 

 

 

Income Before Income Taxes

   $ 54,696      $ 29,309      $ 23,470      $ 10,747   
  

 

 

   

 

 

   

 

 

   

 

 

 

Identifiable Assets

 

(In thousands)    September 27,
2014
     December 31,
2013
 

Aerospace

   $ 454,322       $ 428,619   

Test Systems

     114,551         11,035   

Corporate

     22,034         51,617   
  

 

 

    

 

 

 

Total Assets

   $ 590,907       $ 491,271