Summary of Segment Reporting Information |
Segment information and reconciliations to consolidated amounts for the years ended December 31 are as follows:
|
|
|
|
|
|
|
|
|
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|
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|
|
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|
(In thousands) |
2021 |
|
2020 |
|
2019 |
Sales: |
|
|
|
|
|
Aerospace |
$ |
365,261 |
|
|
$ |
418,079 |
|
|
$ |
692,614 |
|
Less Inter-segment Sales |
(23) |
|
|
(91) |
|
|
(5) |
|
Total Aerospace Sales |
365,238 |
|
|
417,988 |
|
|
692,609 |
|
|
|
|
|
|
|
Test Systems |
80,027 |
|
|
85,589 |
|
|
80,495 |
|
Less Inter-segment Sales |
(357) |
|
|
(990) |
|
|
(402) |
|
Test Systems |
79,670 |
|
|
84,599 |
|
|
80,093 |
|
Total Consolidated Sales |
$ |
444,908 |
|
|
$ |
502,587 |
|
|
$ |
772,702 |
|
Operating (Loss) Profit and Margins: |
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|
|
|
|
Aerospace |
$ |
(8,614) |
|
|
$ |
(89,833) |
|
|
$ |
16,657 |
|
|
(2.4) |
% |
|
(21.5) |
% |
|
2.4 |
% |
Test Systems |
(3,765) |
|
|
5,549 |
|
|
4,494 |
|
|
(4.7) |
% |
|
6.6 |
% |
|
5.6 |
% |
Total Operating (Loss) Profit |
$ |
(12,379) |
|
|
$ |
(84,284) |
|
|
$ |
21,151 |
|
|
(2.8) |
% |
|
(16.8) |
% |
|
2.7 |
% |
Additions to (Deductions from) Operating Profit: |
|
|
|
|
|
Net Gain on Sale of Businesses |
$ |
10,677 |
|
|
$ |
— |
|
|
$ |
78,801 |
|
Interest Expense, Net of Interest Income |
(6,804) |
|
|
(6,741) |
|
|
(6,141) |
|
Corporate and Other Expenses, Net |
(18,454) |
|
|
(21,385) |
|
|
(25,508) |
|
(Loss) Income before Income Taxes |
$ |
(26,960) |
|
|
$ |
(112,410) |
|
|
$ |
68,303 |
|
Depreciation and Amortization: |
|
|
|
|
|
Aerospace |
$ |
23,349 |
|
|
$ |
25,624 |
|
|
$ |
27,879 |
|
Test Systems |
5,022 |
|
|
5,577 |
|
|
4,534 |
|
Corporate |
634 |
|
|
653 |
|
|
636 |
|
Total Depreciation and Amortization |
$ |
29,005 |
|
|
$ |
31,854 |
|
|
$ |
33,049 |
|
Assets: |
|
|
|
|
|
Aerospace |
$ |
458,334 |
|
|
$ |
484,885 |
|
|
|
Test Systems |
105,335 |
|
|
105,079 |
|
|
|
Corporate |
45,469 |
|
|
29,781 |
|
|
|
Total Assets |
$ |
609,138 |
|
|
$ |
619,745 |
|
|
|
Capital Expenditures: |
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|
|
|
|
Aerospace |
$ |
4,932 |
|
|
$ |
6,494 |
|
|
$ |
11,552 |
|
Test Systems |
1,082 |
|
|
952 |
|
|
380 |
|
Corporate |
20 |
|
|
13 |
|
|
151 |
|
Total Capital Expenditures |
$ |
6,034 |
|
|
$ |
7,459 |
|
|
$ |
12,083 |
|
|
Summarizes the Company's Sales and Long-Lived Assets by Geographic Region |
The following table summarizes the Company’s sales into the following geographic regions for the years ended December 31:
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|
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|
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|
|
|
|
(In thousands) |
2021 |
|
2020 |
|
2019 |
United States |
$ |
350,428 |
|
|
$ |
377,218 |
|
|
$ |
583,589 |
|
North America (excluding United States) |
6,990 |
|
|
7,656 |
|
|
12,585 |
|
Asia |
21,089 |
|
|
27,579 |
|
|
40,764 |
|
Europe |
62,138 |
|
|
85,306 |
|
|
130,227 |
|
South America |
1,082 |
|
|
1,788 |
|
|
862 |
|
Other |
3,181 |
|
|
3,040 |
|
|
4,675 |
|
Total |
$ |
444,908 |
|
|
$ |
502,587 |
|
|
$ |
772,702 |
|
The following table summarizes the Company’s property, plant and equipment by country for the years ended December 31:
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|
|
(In thousands) |
2021 |
|
2020 |
United States |
$ |
85,681 |
|
|
$ |
95,281 |
|
France |
7,688 |
|
|
9,109 |
|
India |
936 |
|
|
1,223 |
|
Canada |
931 |
|
|
1,065 |
|
Total |
$ |
95,236 |
|
|
$ |
106,678 |
|
|