Annual report pursuant to Section 13 and 15(d)

SEGMENTS (Tables)

v3.22.0.1
SEGMENTS (Tables)
12 Months Ended
Dec. 31, 2021
Segment Reporting [Abstract]  
Summary of Segment Reporting Information Segment information and reconciliations to consolidated amounts for the years ended December 31 are as follows:
(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:
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:
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:
(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:
(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 
Schedule of Activities with Major Customers The following is information relating to the activity with those customers:
2021 2020 2019
Percent of Consolidated Sales
Boeing 10.0% 9.5% 13.6%
Panasonic * 11.1% 13.0%
(In thousands) 2021 2020
Accounts Receivable at December 31,
Boeing $ 14,545  $ 6,490 
Panasonic
*
$ 4,083 
* Sales to Panasonic represented less than 10% of total consolidated sales in 2021.