| Summary of Segment Reporting Information |
Segment information and reconciliations to consolidated amounts for the years ended December 31 are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands) |
2023 |
|
2022 |
|
2021 |
| Sales: |
|
|
|
|
|
| Aerospace |
$ |
605,001 |
|
|
$ |
461,206 |
|
|
$ |
365,261 |
|
| Less Inter-segment Sales |
(171) |
|
|
(10) |
|
|
(23) |
|
| Total Aerospace Sales |
604,830 |
|
|
461,196 |
|
|
365,238 |
|
|
|
|
|
|
|
| Test Systems |
84,376 |
|
|
73,717 |
|
|
80,027 |
|
| Less Inter-segment Sales |
— |
|
|
(19) |
|
|
(357) |
|
| Test Systems |
84,376 |
|
|
73,698 |
|
|
79,670 |
|
| Total Consolidated Sales |
$ |
689,206 |
|
|
$ |
534,894 |
|
|
$ |
444,908 |
|
| Operating Income (Loss) and Margins: |
|
|
|
|
|
| Aerospace |
$ |
24,629 |
|
|
$ |
(1,883) |
|
|
$ |
(8,614) |
|
|
4.1 |
% |
|
(0.4) |
% |
|
(2.4) |
% |
| Test Systems |
(8,745) |
|
|
(8,118) |
|
|
(3,765) |
|
|
(10.4) |
% |
|
(11.0) |
% |
|
(4.7) |
% |
| Total Operating Income (Loss) |
$ |
15,884 |
|
|
$ |
(10,001) |
|
|
$ |
(12,379) |
|
|
2.3 |
% |
|
(1.9) |
% |
|
(2.8) |
% |
| Additions to (Deductions from) Operating Profit: |
|
|
|
|
|
| Net Gain on Sale of Businesses |
$ |
3,427 |
|
|
$ |
11,284 |
|
|
$ |
10,677 |
|
| Interest Expense, Net of Interest Income |
(23,328) |
|
|
(9,422) |
|
|
(6,804) |
|
| Corporate and Other Expenses, Net |
(22,294) |
|
|
(21,654) |
|
|
(18,454) |
|
| Loss before Income Taxes |
$ |
(26,311) |
|
|
$ |
(29,793) |
|
|
$ |
(26,960) |
|
| Depreciation and Amortization: |
|
|
|
|
|
| Aerospace |
$ |
20,801 |
|
|
$ |
22,384 |
|
|
$ |
23,349 |
|
| Test Systems |
5,068 |
|
|
4,341 |
|
|
5,022 |
|
| Corporate |
235 |
|
|
1,052 |
|
|
634 |
|
| Total Depreciation and Amortization |
$ |
26,104 |
|
|
$ |
27,777 |
|
|
$ |
29,005 |
|
| Assets: |
|
|
|
|
|
| Aerospace |
$ |
493,660 |
|
|
$ |
481,416 |
|
|
|
| Test Systems |
122,681 |
|
|
111,513 |
|
|
|
| Corporate |
17,451 |
|
|
22,102 |
|
|
|
| Total Assets |
$ |
633,792 |
|
|
$ |
615,031 |
|
|
|
| Capital Expenditures: |
|
|
|
|
|
| Aerospace |
$ |
5,003 |
|
|
$ |
4,289 |
|
|
$ |
4,932 |
|
| Test Systems |
2,640 |
|
|
3,299 |
|
|
1,082 |
|
| Corporate |
— |
|
|
87 |
|
|
20 |
|
| Total Capital Expenditures |
$ |
7,643 |
|
|
$ |
7,675 |
|
|
$ |
6,034 |
|
|
| 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) |
2023 |
|
2022 |
|
2021 |
| United States |
$ |
518,096 |
|
|
$ |
419,431 |
|
|
$ |
350,428 |
|
| North America (excluding United States) |
14,878 |
|
|
9,222 |
|
|
6,990 |
|
| Asia |
26,165 |
|
|
21,242 |
|
|
21,089 |
|
| Europe |
123,682 |
|
|
78,625 |
|
|
62,138 |
|
| South America |
2,071 |
|
|
3,629 |
|
|
1,082 |
|
| Other |
4,314 |
|
|
2,745 |
|
|
3,181 |
|
| Total |
$ |
689,206 |
|
|
$ |
534,894 |
|
|
$ |
444,908 |
|
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) |
2023 |
|
2022 |
| United States |
$ |
77,939 |
|
|
$ |
82,317 |
|
| France |
6,417 |
|
|
6,974 |
|
| India |
487 |
|
|
653 |
|
| Canada |
593 |
|
|
714 |
|
| Total |
$ |
85,436 |
|
|
$ |
90,658 |
|
|