Quarterly report pursuant to Section 13 or 15(d)

Segment Information (Tables)

v3.20.2
Segment Information (Tables)
6 Months Ended
Jun. 27, 2020
Segment Reporting [Abstract]  
Summary of Segment Reporting Information
Below are the sales and operating profit by segment for the three and six months ended June 27, 2020 and June 29, 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. 
Six Months Ended Three Months Ended
(In thousands) June 27, 2020 June 29, 2019 June 27, 2020 June 29, 2019
Sales
Aerospace $ 243,734    $ 362,793    $ 102,597    $ 174,292   
Less Intersegment Sales (91)   (5)   (24)   (5)  
Total Aerospace Sales 243,643    362,788    102,573    174,287   
Test Systems 37,985    34,649    21,432    14,925   
Less Intersegment Sales (350)   (165)   (311)   (114)  
Total Test Systems Sales 37,635    34,484    21,121    14,811   
Total Consolidated Sales $ 281,278    $ 397,272    $ 123,694    $ 189,098   
Segment Measure of Operating (Loss) Profit and Margins
Aerospace
$ (80,235)   $ 40,160    $ (17,090)   $ 14,392   
(32.9) % 11.1  % (16.7) % 8.3  %
Test Systems
3,334    2,091    2,612    (94)  
8.9  % 6.1  % 12.4  % (0.6) %
Total Segment Measure of Operating (Loss) Profit (76,901)   42,251    (14,478)   14,298   
(27.3) % 10.6  % (11.7) % 7.6  %
Additions/Deductions from Segment Measure of Operating (Loss) Profit
Gain on Sale of Business —    80,133    —    —   
Interest Expense, Net of Interest Income
3,316    3,029    1,983    1,225   
Corporate Expenses and Other
13,511    9,530    7,990    4,243   
(Loss) Income Before Income Taxes $ (93,728)   $ 109,825    $ (24,451)   $ 8,830   
Total Assets: 
(In thousands)
June 27, 2020 December 31, 2019
Aerospace
$ 501,536    $ 629,371   
Test Systems
104,392    110,994   
Corporate
52,598    42,351   
Total Assets
$ 658,526    $ 782,716