| Summary of Segment Reporting Information |
Below are the sales and operating profit by segment for the three and nine months ended October 3, 2015 and September 27, 2014 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.
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Nine Months Ended |
|
Three Months Ended |
(Dollars in thousands) |
October 3,
2015 |
|
September 27,
2014 |
|
October 3,
2015 |
|
September 27,
2014 |
Sales |
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Aerospace |
$ |
413,250 |
|
|
$ |
366,128 |
|
|
$ |
138,728 |
|
|
$ |
122,233 |
|
Test Systems |
121,744 |
|
|
129,065 |
|
|
61,417 |
|
|
57,209 |
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Less Intersegment Sales |
(55 |
) |
|
(237 |
) |
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— |
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— |
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|
121,689 |
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|
128,828 |
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|
61,417 |
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|
57,209 |
|
Total Consolidated Sales |
$ |
534,939 |
|
|
$ |
494,956 |
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|
$ |
200,145 |
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|
$ |
179,442 |
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Operating Profit and Margins |
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Aerospace |
$ |
66,728 |
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$ |
60,308 |
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$ |
23,055 |
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$ |
22,057 |
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16.1 |
% |
|
16.5 |
% |
|
16.6 |
% |
|
18.0 |
% |
Test Systems |
24,618 |
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|
8,034 |
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|
16,980 |
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|
5,699 |
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20.2 |
% |
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6.2 |
% |
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27.6 |
% |
|
10.0 |
% |
Total Operating Profit |
91,346 |
|
|
68,342 |
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|
40,035 |
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|
27,756 |
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17.1 |
% |
|
13.8 |
% |
|
20.0 |
% |
|
15.5 |
% |
Deductions from Operating Profit |
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Interest Expense, Net of Interest Income |
3,600 |
|
|
7,183 |
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|
1,243 |
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|
2,301 |
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Corporate Expenses and Other |
8,518 |
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|
6,463 |
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|
2,905 |
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|
1,985 |
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Income Before Income Taxes |
$ |
79,228 |
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$ |
54,696 |
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$ |
35,887 |
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$ |
23,470 |
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Identifiable Assets
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(In thousands) |
October 3,
2015 |
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December 31,
2014
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Aerospace |
$ |
531,136 |
|
|
$ |
468,481 |
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Test Systems |
87,909 |
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|
69,247 |
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Corporate |
29,348 |
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|
25,182 |
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Total Assets |
$ |
648,393 |
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$ |
562,910 |
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