Summary of Segment Reporting Information |
Segment information and reconciliations to consolidated amounts for the years ended December 31 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
2022 |
|
2021 |
|
2020 |
Sales: |
|
|
|
|
|
Aerospace |
$ |
461,206 |
|
|
$ |
365,261 |
|
|
$ |
418,079 |
|
Less Inter-segment Sales |
(10) |
|
|
(23) |
|
|
(91) |
|
Total Aerospace Sales |
461,196 |
|
|
365,238 |
|
|
417,988 |
|
|
|
|
|
|
|
Test Systems |
73,717 |
|
|
80,027 |
|
|
85,589 |
|
Less Inter-segment Sales |
(19) |
|
|
(357) |
|
|
(990) |
|
Test Systems |
73,698 |
|
|
79,670 |
|
|
84,599 |
|
Total Consolidated Sales |
$ |
534,894 |
|
|
$ |
444,908 |
|
|
$ |
502,587 |
|
Operating Loss and Margins: |
|
|
|
|
|
Aerospace |
$ |
(1,883) |
|
|
$ |
(8,614) |
|
|
$ |
(89,833) |
|
|
(0.4) |
% |
|
(2.4) |
% |
|
(21.5) |
% |
Test Systems |
(8,118) |
|
|
(3,765) |
|
|
5,549 |
|
|
(11.0) |
% |
|
(4.7) |
% |
|
6.6 |
% |
Total Operating Loss |
$ |
(10,001) |
|
|
$ |
(12,379) |
|
|
$ |
(84,284) |
|
|
(1.9) |
% |
|
(2.8) |
% |
|
(16.8) |
% |
Additions to (Deductions from) Operating Profit: |
|
|
|
|
|
Net Gain on Sale of Businesses |
$ |
11,284 |
|
|
$ |
10,677 |
|
|
$ |
— |
|
Interest Expense, Net of Interest Income |
(9,422) |
|
|
(6,804) |
|
|
(6,741) |
|
Corporate and Other Expenses, Net |
(21,654) |
|
|
(18,454) |
|
|
(21,385) |
|
Loss before Income Taxes |
$ |
(29,793) |
|
|
$ |
(26,960) |
|
|
$ |
(112,410) |
|
Depreciation and Amortization: |
|
|
|
|
|
Aerospace |
$ |
22,384 |
|
|
$ |
23,349 |
|
|
$ |
25,624 |
|
Test Systems |
4,341 |
|
|
5,022 |
|
|
5,577 |
|
Corporate |
1,052 |
|
|
634 |
|
|
653 |
|
Total Depreciation and Amortization |
$ |
27,777 |
|
|
$ |
29,005 |
|
|
$ |
31,854 |
|
Assets: |
|
|
|
|
|
Aerospace |
$ |
481,416 |
|
|
$ |
458,334 |
|
|
|
Test Systems |
111,513 |
|
|
105,335 |
|
|
|
Corporate |
22,102 |
|
|
45,469 |
|
|
|
Total Assets |
$ |
615,031 |
|
|
$ |
609,138 |
|
|
|
Capital Expenditures: |
|
|
|
|
|
Aerospace |
$ |
4,289 |
|
|
$ |
4,932 |
|
|
$ |
6,494 |
|
Test Systems |
3,299 |
|
|
1,082 |
|
|
952 |
|
Corporate |
87 |
|
|
20 |
|
|
13 |
|
Total Capital Expenditures |
$ |
7,675 |
|
|
$ |
6,034 |
|
|
$ |
7,459 |
|
|
Summary of 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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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
2022 |
|
2021 |
|
2020 |
United States |
$ |
419,431 |
|
|
$ |
350,428 |
|
|
$ |
377,218 |
|
North America (excluding United States) |
9,222 |
|
|
6,990 |
|
|
7,656 |
|
Asia |
21,242 |
|
|
21,089 |
|
|
27,579 |
|
Europe |
78,625 |
|
|
62,138 |
|
|
85,306 |
|
South America |
3,629 |
|
|
1,082 |
|
|
1,788 |
|
Other |
2,745 |
|
|
3,181 |
|
|
3,040 |
|
Total |
$ |
534,894 |
|
|
$ |
444,908 |
|
|
$ |
502,587 |
|
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) |
2022 |
|
2021 |
United States |
$ |
82,317 |
|
|
$ |
85,681 |
|
France |
6,974 |
|
|
7,688 |
|
India |
653 |
|
|
936 |
|
Canada |
714 |
|
|
931 |
|
Total |
$ |
90,658 |
|
|
$ |
95,236 |
|
|