| Segment Information |
Segment Information
Below are the sales and operating profit (loss) by segment for the three and nine months ended October 2, 2021 and September 26, 2020 and a reconciliation of segment operating profit (loss) 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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended |
|
Three Months Ended |
| (In thousands) |
October 2, 2021 |
|
September 26, 2020 |
|
October 2, 2021 |
|
September 26, 2020 |
| Sales: |
|
|
|
|
|
|
|
| Aerospace |
$ |
266,425 |
|
|
$ |
326,282 |
|
|
$ |
95,775 |
|
|
$ |
82,548 |
|
| Less Inter-segment Sales |
(23) |
|
|
(91) |
|
|
(9) |
|
|
— |
|
| Total Aerospace Sales |
266,402 |
|
|
326,191 |
|
|
95,766 |
|
|
82,548 |
|
| Test Systems |
62,811 |
|
|
62,391 |
|
|
16,128 |
|
|
24,406 |
|
| Less Inter-segment Sales |
(357) |
|
|
(798) |
|
|
(53) |
|
|
(448) |
|
| Total Test Systems Sales |
62,454 |
|
|
61,593 |
|
|
16,075 |
|
|
23,958 |
|
| Total Consolidated Sales |
$ |
328,856 |
|
|
$ |
387,784 |
|
|
$ |
111,841 |
|
|
$ |
106,506 |
|
| Segment Measure of Operating (Loss) Profit and Margins |
|
|
|
|
|
|
|
Aerospace |
$ |
(6,352) |
|
|
$ |
(86,567) |
|
|
$ |
1,917 |
|
|
$ |
(6,332) |
|
|
(2.4) |
% |
|
(26.5) |
% |
|
2.0 |
% |
|
(7.7) |
% |
Test Systems |
(1,958) |
|
|
4,270 |
|
|
(2,201) |
|
|
936 |
|
|
(3.1) |
% |
|
6.9 |
% |
|
(13.7) |
% |
|
3.9 |
% |
| Total Segment Measure of Operating Loss |
(8,310) |
|
|
(82,297) |
|
|
(284) |
|
|
(5,396) |
|
|
(2.5) |
% |
|
(21.2) |
% |
|
(0.3) |
% |
|
(5.1) |
% |
| Deductions from Segment Measure of Operating Loss |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense, Net of Interest Income |
5,252 |
|
|
5,091 |
|
|
1,795 |
|
|
1,775 |
|
Corporate Expenses and Other |
13,247 |
|
|
17,481 |
|
|
4,760 |
|
|
3,970 |
|
| Loss Before Income Taxes |
$ |
(26,809) |
|
|
$ |
(104,869) |
|
|
$ |
(6,839) |
|
|
$ |
(11,141) |
|
Total Assets:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
October 2, 2021 |
|
December 31, 2020 |
Aerospace |
|
$ |
474,042 |
|
|
$ |
484,885 |
|
Test Systems |
|
99,323 |
|
|
105,079 |
|
Corporate |
|
36,941 |
|
|
29,781 |
|
Total Assets |
|
$ |
610,306 |
|
|
$ |
619,745 |
|
|