Quarterly report pursuant to Section 13 or 15(d)

Segment Information

v3.20.1
Segment Information
3 Months Ended
Mar. 28, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
Below are the sales and operating profit by segment for the three months ended March 28, 2020 and March 30, 2019 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. 
Three Months Ended
(In thousands) March 28, 2020 March 30, 2019
Sales
Aerospace $ 141,137    $ 188,501   
Less Intersegment Sales (67)   —   
Total Aerospace Sales 141,070    188,501   
Test Systems 16,553    19,724   
Less Intersegment Sales (39)   (51)  
Total Test Systems Sales 16,514    19,673   
Total Consolidated Sales $ 157,584    $ 208,174   
Operating (Loss) Profit and Margins
Aerospace
$ (63,145)   $ 25,768   
(44.8) % 13.7  %
Test Systems
722    2,185   
4.4  % 11.1  %
Total Operating (Loss) Profit (62,423)   27,953   
(39.6) % 13.4  %
Additions/Deductions from Operating (Loss) Profit
Gain on Sale of Business —    80,133   
Interest Expense, Net of Interest Income
1,333    1,804   
Corporate Expenses and Other
5,521    5,287   
(Loss) Income Before Income Taxes $ (69,277)   $ 100,995   
Total Assets: 
(In thousands)
March 28, 2020 December 31, 2019
Aerospace
$ 545,378    $ 629,371   
Test Systems
104,866    110,994   
Corporate
199,782    42,351   
Total Assets
$ 850,026    $ 782,716