| Segment Information |
Segment Information
Below are the sales and operating profit by segment for the three months ended March 30, 2019 and March 31, 2018 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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Three Months Ended |
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| (In thousands) |
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March 30, 2019 |
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March 31, 2018 |
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| Sales |
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| Aerospace |
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$ |
188,501 |
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$ |
164,600 |
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| Test Systems |
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19,724 |
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14,459 |
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| Less Intersegment Sales |
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(51) |
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— |
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| Total Test Systems Sales |
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19,673 |
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14,459 |
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| Total Consolidated Sales |
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$ |
208,174 |
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$ |
179,059 |
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| Operating Profit and Margins |
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Aerospace |
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$ |
25,768 |
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$ |
13,115 |
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13.7 |
% |
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8.0 |
% |
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Test Systems |
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2,185 |
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(1,929) |
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11.1 |
% |
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(13.3) |
% |
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| Total Operating Profit |
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27,953 |
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11,186 |
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13.4 |
% |
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6.2 |
% |
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| Additions/Deductions from Operating Profit |
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| Gain on Sale of Business |
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80,133 |
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— |
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Interest Expense, Net of Interest Income |
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1,804 |
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2,331 |
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Corporate Expenses and Other |
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5,287 |
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4,929 |
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| Income Before Income Taxes |
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$ |
100,995 |
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$ |
3,926 |
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Total Assets:
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(In thousands) |
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March 30, 2019 |
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December 31, 2018 |
Aerospace |
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$ |
674,247 |
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$ |
647,870 |
Test Systems |
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73,519 |
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97,056 |
Corporate |
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32,755 |
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29,714 |
Total Assets |
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$ |
780,521 |
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$ |
774,640 |
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