| Summary of Segment Reporting Information |
Segment information and reconciliations to consolidated amounts for
the years ended December 31 are as follows:
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|
|
|
|
|
|
|
|
|
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| (In thousands) |
|
2013 |
|
|
2012 |
|
|
2011 |
|
|
|
|
|
|
Sales:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace
|
|
$ |
330,530 |
|
|
$ |
254,955 |
|
|
$ |
213,874 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Test Systems
|
|
|
10,103 |
|
|
|
11,491 |
|
|
|
14,289 |
|
|
Less Inter-segment Sales
|
|
|
(696 |
) |
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,407 |
|
|
|
11,491 |
|
|
|
14,289 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
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|
Total Consolidated Sales
|
|
$ |
339,937 |
|
|
$ |
266,446 |
|
|
$ |
228,163 |
|
|
|
|
|
|
|
|
|
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|
|
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|
Operating Profit (Loss) and Margins:
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|
|
|
|
|
|
|
|
|
Aerospace
|
|
$ |
55,200 |
|
|
$ |
44,137 |
|
|
$ |
40,400 |
|
|
|
|
16.7 |
% |
|
|
17.3 |
% |
|
|
18.9 |
% |
|
Test Systems
|
|
|
(3,756 |
) |
|
|
(4,985 |
) |
|
|
(4,760 |
) |
|
|
|
(37.2 |
)% |
|
|
(43.4 |
)% |
|
|
(33.3 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Operating Profit
|
|
|
51,444 |
|
|
|
39,152 |
|
|
|
35,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15.1 |
% |
|
|
14.7 |
% |
|
|
15.6 |
% |
|
Deductions from Operating Profit:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest Expense
|
|
|
(4,094 |
) |
|
|
(1,042 |
) |
|
|
(1,806 |
) |
|
Corporate and Other Expenses, Net
|
|
|
(9,139 |
) |
|
|
(6,527 |
) |
|
|
(4,819 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings before Income Taxes
|
|
$ |
38,211 |
|
|
$ |
31,583 |
|
|
$ |
29,015 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Depreciation and Amortization:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace
|
|
$ |
10,058 |
|
|
$ |
6,043 |
|
|
$ |
3,929 |
|
|
Test Systems
|
|
|
590 |
|
|
|
634 |
|
|
|
584 |
|
|
Corporate
|
|
|
411 |
|
|
|
228 |
|
|
|
430 |
|
|
|
|
|
|
|
|
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|
|
|
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|
Total Depreciation and Amortization
|
|
$ |
11,059 |
|
|
$ |
6,905 |
|
|
$ |
4,943 |
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
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|
Identifiable Assets:
|
|
|
|
|
|
|
|
|
|
|
|
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|
Aerospace
|
|
$ |
428,619 |
|
|
$ |
177,168 |
|
|
$ |
136,930 |
|
|
Test Systems
|
|
|
11,035 |
|
|
|
18,121 |
|
|
|
20,020 |
|
|
Corporate
|
|
|
51,617 |
|
|
|
16,700 |
|
|
|
17,955 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Assets
|
|
$ |
491,271 |
|
|
$ |
211,989 |
|
|
$ |
174,905 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
Capital Expenditures:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aerospace
|
|
$ |
6,711 |
|
|
$ |
16,324 |
|
|
$ |
14,195 |
|
|
Test Systems
|
|
|
61 |
|
|
|
396 |
|
|
|
86 |
|
|
Corporate
|
|
|
96 |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Capital Expenditures
|
|
$ |
6,868 |
|
|
$ |
16,720 |
|
|
$ |
14,281 |
|
|
|
|
|
|
|
|
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|
|
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|
| Summarizes the Company's Sales by Geographic Region |
The following table summarizes the Company’s sales by
geographic region for the years ended December 31:
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|
|
|
|
|
|
|
|
|
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
| (In thousands) |
|
|
|
|
|
|
|
|
|
|
North America
|
|
$ |
300,368 |
|
|
$ |
233,245 |
|
|
$ |
196,447 |
|
|
Europe
|
|
|
21,190 |
|
|
|
16,188 |
|
|
|
16,238 |
|
|
Asia
|
|
|
15,570 |
|
|
|
14,030 |
|
|
|
12,544 |
|
|
South America
|
|
|
1,851 |
|
|
|
1,937 |
|
|
|
2,678 |
|
|
Other
|
|
|
958 |
|
|
|
1,046 |
|
|
|
256 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
339,937 |
|
|
$ |
266,446 |
|
|
$ |
228,163 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summarizes the Company's Property, Plant and Equipment by Geographic Region |
The following table summarizes the Company’s property, plant
and equipment by country for the years ended December 31:
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
2013 |
|
|
2012 |
|
|
2011 |
|
| (In thousands) |
|
|
|
|
|
|
|
|
|
|
United States
|
|
$ |
59,803 |
|
|
$ |
53,235 |
|
|
$ |
40,871 |
|
|
France
|
|
|
10,771 |
|
|
|
— |
|
|
|
— |
|
|
Canada
|
|
|
326 |
|
|
|
302 |
|
|
|
251 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
70,900 |
|
|
$ |
53,537 |
|
|
$ |
41,122 |
|
|
|
|
|
|
|
|
|
|
|
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|