| Summary of Segment Reporting Information |
Below are the sales and operating profit by segment for the three and six months ended June 29, 2019 and June 30, 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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Six Months Ended |
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Three Months Ended |
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| (In thousands) |
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June 29, 2019 |
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June 30, 2018 |
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June 29, 2019 |
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June 30, 2018 |
| Sales |
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| Aerospace |
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$ |
362,793 |
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$ |
330,857 |
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$ |
174,292 |
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$ |
166,257 |
| Less Intersegment Sales |
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(5) |
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(53) |
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(5) |
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(53) |
| Total Aerospace Sales |
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362,788 |
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330,804 |
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174,287 |
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166,204 |
| Test Systems |
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34,649 |
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56,861 |
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14,925 |
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42,402 |
| Less Intersegment Sales |
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(165) |
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— |
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(114) |
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— |
| Total Test Systems Sales |
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34,484 |
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56,861 |
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14,811 |
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42,402 |
| Total Consolidated Sales |
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$ |
397,272 |
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$ |
387,665 |
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$ |
189,098 |
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$ |
208,606 |
| Operating Profit and Margins |
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Aerospace |
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$ |
40,160 |
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$ |
31,315 |
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$ |
14,392 |
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$ |
18,200 |
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11.1 |
% |
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9.5 |
% |
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8.3 |
% |
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11.0 |
% |
Test Systems |
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2,091 |
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4,318 |
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(94) |
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6,247 |
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6.0 |
% |
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7.6 |
% |
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(0.6) |
% |
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14.7 |
% |
| Total Operating Profit |
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42,251 |
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35,633 |
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14,298 |
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24,447 |
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10.6 |
% |
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9.2 |
% |
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7.6 |
% |
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11.7 |
% |
| 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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— |
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— |
Interest Expense, Net of Interest Income |
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3,029 |
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4,815 |
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1,225 |
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2,484 |
Corporate Expenses and Other |
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9,530 |
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9,710 |
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4,243 |
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4,781 |
| Income Before Income Taxes |
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$ |
109,825 |
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$ |
21,108 |
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$ |
8,830 |
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$ |
17,182 |
Total Assets:
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(In thousands) |
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June 29, 2019 |
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December 31, 2018 |
Aerospace |
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$ |
668,425 |
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$ |
647,870 |
Test Systems |
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68,017 |
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97,056 |
Corporate |
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30,821 |
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29,714 |
Total Assets |
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$ |
767,263 |
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$ |
774,640 |
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