| Summary of Segment Reporting Information |
Below are the sales and operating profit by segment for the three and nine months ended September 26, 2020 and September 28, 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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Nine Months Ended |
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Three Months Ended |
| (In thousands) |
September 26, 2020 |
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September 28, 2019 |
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September 26, 2020 |
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September 28, 2019 |
| Sales |
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| Aerospace |
$ |
326,282 |
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|
$ |
520,495 |
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$ |
82,548 |
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$ |
157,702 |
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| Less Intersegment Sales |
(91) |
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(5) |
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— |
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— |
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| Total Aerospace Sales |
326,191 |
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520,490 |
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82,548 |
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157,702 |
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| Test Systems |
62,391 |
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53,995 |
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24,406 |
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19,346 |
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| Less Intersegment Sales |
(798) |
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(195) |
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(448) |
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(30) |
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| Total Test Systems Sales |
61,593 |
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53,800 |
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23,958 |
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19,316 |
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| Total Consolidated Sales |
$ |
387,784 |
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$ |
574,290 |
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$ |
106,506 |
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$ |
177,018 |
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| Segment Measure of Operating (Loss) Profit and Margins |
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Aerospace |
$ |
(86,567) |
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$ |
48,949 |
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$ |
(6,332) |
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$ |
8,789 |
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(26.5) |
% |
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9.4 |
% |
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(7.7) |
% |
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5.6 |
% |
Test Systems |
4,270 |
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4,166 |
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936 |
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2,075 |
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6.9 |
% |
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7.7 |
% |
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3.9 |
% |
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10.7 |
% |
| Total Segment Measure of Operating (Loss) Profit |
(82,297) |
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53,115 |
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(5,396) |
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10,864 |
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(21.2) |
% |
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9.2 |
% |
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(5.1) |
% |
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6.1 |
% |
| Additions/Deductions from Segment Measure of Operating (Loss) Profit |
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| Net (Gain) Loss on Sale of Businesses |
— |
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(78,801) |
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— |
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1,332 |
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Interest Expense, Net of Interest Income |
5,091 |
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4,576 |
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1,775 |
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1,547 |
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Corporate Expenses and Other |
17,481 |
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15,755 |
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3,970 |
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6,225 |
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| (Loss) Income Before Income Taxes |
$ |
(104,869) |
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$ |
111,585 |
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$ |
(11,141) |
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$ |
1,760 |
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Total Assets:
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(In thousands) |
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September 26, 2020 |
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December 31, 2019 |
Aerospace |
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$ |
490,927 |
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$ |
629,371 |
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Test Systems |
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102,087 |
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110,994 |
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Corporate |
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44,447 |
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42,351 |
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Total Assets |
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$ |
637,461 |
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$ |
782,716 |
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