| Summary of Segment Reporting Information |
Below are the sales and operating profit by segment for the six months ended July 1, 2017 and July 2, 2016 and a reconciliation of segment operating profit 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.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended |
|
Three Months Ended |
(Dollars in thousands) |
July 1,
2017 |
|
July 2,
2016 |
|
July 1,
2017 |
|
July 2,
2016 |
Sales |
|
|
|
|
|
|
|
Aerospace |
$ |
266,374 |
|
|
$ |
281,177 |
|
|
$ |
129,547 |
|
|
$ |
142,528 |
|
Less Intersegment Sales |
— |
|
|
(367 |
) |
|
— |
|
|
(27 |
) |
Total Aerospace Sales |
266,374 |
|
|
280,810 |
|
|
129,547 |
|
|
142,501 |
|
Total Test Systems Sales |
37,136 |
|
|
43,146 |
|
|
21,567 |
|
|
21,925 |
|
Total Consolidated Sales |
$ |
303,510 |
|
|
$ |
323,956 |
|
|
$ |
151,114 |
|
|
$ |
164,426 |
|
Operating Profit and Margins |
|
|
|
|
|
|
|
Aerospace |
$ |
33,738 |
|
|
$ |
43,542 |
|
|
$ |
13,984 |
|
|
$ |
24,851 |
|
|
12.7 |
% |
|
15.5 |
% |
|
10.8 |
% |
|
17.4 |
% |
Test Systems |
1,750 |
|
|
3,284 |
|
|
1,432 |
|
|
1,074 |
|
|
4.7 |
% |
|
7.6 |
% |
|
6.6 |
% |
|
4.9 |
% |
Total Operating Profit |
35,488 |
|
|
46,826 |
|
|
15,416 |
|
|
25,925 |
|
|
11.7 |
% |
|
14.5 |
% |
|
10.2 |
% |
|
15.8 |
% |
Deductions from Operating Profit |
|
|
|
|
|
|
|
Interest Expense, Net of Interest Income |
2,313 |
|
|
2,143 |
|
|
1,180 |
|
|
1,056 |
|
Corporate Expenses and Other |
7,115 |
|
|
6,616 |
|
|
3,667 |
|
|
3,314 |
|
Income Before Income Taxes |
$ |
26,060 |
|
|
$ |
38,067 |
|
|
$ |
10,569 |
|
|
$ |
21,555 |
|
Total Assets:
|
|
|
|
|
|
|
|
|
(In thousands) |
July 1,
2017 |
|
December 31,
2016 |
Aerospace |
$ |
529,369 |
|
|
$ |
500,892 |
|
Test Systems |
77,382 |
|
|
76,575 |
|
Corporate |
21,077 |
|
|
26,877 |
|
Total Assets |
$ |
627,828 |
|
|
$ |
604,344 |
|
|