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