| Schedule of Segment Reporting Information |
Below are the sales and operating (loss) profit by segment for the three and six months ended July 2, 2022 and July 3, 2021 and a reconciliation of segment operating 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.
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Six Months Ended |
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Three Months Ended |
| (In thousands) |
July 2, 2022 |
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July 3, 2021 |
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July 2, 2022 |
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July 3, 2021 |
| Sales: |
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| Aerospace |
$ |
210,694 |
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|
$ |
170,650 |
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$ |
109,300 |
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$ |
89,220 |
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| Less Inter-segment Sales |
(10) |
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(14) |
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(10) |
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— |
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| Total Aerospace Sales |
210,684 |
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|
170,636 |
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|
109,290 |
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|
89,220 |
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| Test Systems |
34,638 |
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46,683 |
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|
19,840 |
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21,938 |
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| Less Inter-segment Sales |
(19) |
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(304) |
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(3) |
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— |
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| Total Test Systems Sales |
34,619 |
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46,379 |
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19,837 |
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21,938 |
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| Total Consolidated Sales |
$ |
245,303 |
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$ |
217,015 |
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$ |
129,127 |
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$ |
111,158 |
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| Segment Measure of Operating (Loss) Profit and Margins |
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Aerospace |
$ |
(226) |
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$ |
(8,269) |
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$ |
(3,276) |
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$ |
(2,706) |
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(0.1) |
% |
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(4.8) |
% |
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(3.0) |
% |
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(3.0) |
% |
Test Systems |
(1,813) |
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243 |
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(26) |
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(946) |
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(5.2) |
% |
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0.5 |
% |
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(0.1) |
% |
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(4.3) |
% |
| Total Segment Measure of Operating Loss |
(2,039) |
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(8,026) |
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(3,302) |
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(3,652) |
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(0.8) |
% |
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(3.7) |
% |
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(2.6) |
% |
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(3.3) |
% |
| Deductions from Segment Measure of Operating Loss |
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| Net Gain on Sale of Business |
(11,284) |
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— |
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— |
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— |
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Interest Expense, Net of Interest Income |
3,293 |
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3,457 |
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1,662 |
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1,699 |
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Corporate Expenses and Other |
11,277 |
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8,487 |
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5,385 |
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2,815 |
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| Loss Before Income Taxes |
$ |
(5,325) |
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$ |
(19,970) |
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$ |
(10,349) |
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$ |
(8,166) |
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Total Assets:
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(In thousands) |
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July 2, 2022 |
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December 31, 2021 |
Aerospace |
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$ |
463,715 |
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$ |
458,334 |
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Test Systems |
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100,224 |
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105,335 |
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Corporate |
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18,342 |
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45,469 |
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Total Assets |
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$ |
582,281 |
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$ |
609,138 |
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